Kambi Group PLC have stuck a deal to supply their sportsbook platform to Mohegan Gaming and Entertainment on their Fallsview Casino brand in the newly regulated Ontario iGaming market.
This will not be Kambi’s only involvement in Ontario. The Malta-based developer also supply their mobile sports betting platform to LeoVegas who are already licensed in the province. They are also active in 17 regulated US markets.
Chief Executive Office and Co-Founder of Kambi, Kristian Nylen, said:
“The Canadian market, and Ontario in particular, is full of potential for Kambi and our partners so I am pleased to have agreed this partnership with Mohegan and its Fallsview online mobile brand.
“I look forward to the combination of our industry-leading mobile sportsbook and the prominent Fallsview name as together we bring players in Ontario all the excitement of single and in-game wagering along with the unrivalled bet combinability our sportsbook offers.”
On MGE’s side, Digital President, Rich Roberts, welcomed the partnership that will see PlayFallsView enter the Ontario market in the near future, which marks their first venture outside the United States.
NEW DEAL IS A BOOST FOR KAMBI AFTER DRAFTKINGS LOSS
The deal with MGE represents welcome good news after Kambi reported a steep decline in year on year numbers for Q1 2022.
In April Kambi reported Q1 revenues 15% down on 2021 with $39.3 million and operating profit of $7.7 million. Earnings per share also dropped by 63% to $0.19.
The poor results were attributed to the loss of one of the company’s biggest sportsbook partners, DraftKings. Kambi’s numbers were also impacted by the regulation of the Dutch market.
Kristian Nylen spoke when the results came out to say that the loss of DraftKings would be offset by the renewal of deals Kindred Group, also active in Ontario with Unibet, and new partnerships with operators in North America including NorthStar Gaming and MaximBet.
Kambi has more than 40 partners using it’s platform in 2022, employing more than 1,000 staff across offices in Malta, Bucharest, Philidelphia, London, Manila, Sydney and Stockholm. The Ontario license granted this year is in addition to ones in the UK, Malta, Spain and Alderney.
Their partners include LeoVegas, Casumo, Mr Green and Grosvenor.
Mohegan Gaming and Entertainment own gaming complex’s in both the US and Canada, including Mohegan Sun Casino in Las Vegas. Their Fallsview Casino resort is is the largest gaming resort in Canada.