Sports betting

Kambi hails US opportunity as New Jersey license progresses

Stockholm-listed firm opens new office in Sweden with a team of US-focused developers

Sports betting provider Kambi has promised to be live for “day one” of US sports betting, having submitted its application for a New Jersey license.

The Stockholm-listed firm, which reported a 15% rise in Q1 revenues to €16.4m this week, said it was receiving “phenomenal interest” from US-based operators.

“The potential opening of the US market is of great interest to Kambi and is the reason why we are currently working closely with the DGE on our application for a New Jersey license,” Max Meltzer, Kambi chief commercial officer, said.

“There continues to be a phenomenal level of interest in Kambi from those looking to offer a sports betting product post-PASPA, from which it’s clear there’s strong demand for a supplier that can not only provide entertaining betting experiences, but also protect operators and their brands from unwanted controversy.

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The firm recently opened a new office in Sweden with developers focused on US product development, and said it’s omni-channel offer was suited to the US market where any sports betting will likely be conducted through land-based casinos and mobile apps.

“With a World Cup around the corner and preparations for the potential opening of a US market progressing well, the levels of excitement and optimism at Kambi continue to grow,” the firm said after its Q1 results this week.

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