Kambi Secures Gaming Control Board Approval for Nevada Expansion

Kambi Group, a leading B2B sports betting service provider, is preparing to establish itself in Nevada’s competitive sports betting market. The Nevada Gaming Control Board recently recommended the company for licensing approval, paving the way for its official entry into the state. A field test with Bally’s Lake Tahoe casino is set to begin by July.

Headquartered in Malta and publicly traded in Sweden, Kambi specializes in offering a comprehensive sports betting platform. Its services include a -friendly front-end interface, odds compilation, risk management, and customer intelligence tools. The company’s advanced technology and expertise have enabled it to successfully operate across 15 U.S. states and Ontario, Canada.

The Nevada Gaming Commission is scheduled to make the final decision regarding Kambi’s licensing on January 30.

Years-Long Effort to Enter Nevada

Kambi’s journey to Nevada has been years in the making. Greg Giordano, an attorney representing Kambi from the McDonald Carano Wilson law firm, highlighted the company’s long-standing goal of entering this key U.S. market. Anders Ström, the co-founder and chairman of Kambi’s board, noted that the company first obtained U.S. licenses in 2018, starting in New Jersey and Pennsylvania.

“We are excited about bringing our services to the state of Nevada,” said Werner Becher, Kambi’s CEO.

Becher emphasized that Kambi’s sports betting solutions are designed to meet the diverse regulatory requirements of different jurisdictions. The company boasts a global network, partnering with more than 45 operators in over 60 regulated markets worldwide.

Global Expertise Meets Local Potential

Kambi’s global reach includes collaborations with both online and land-based operators, as well as state and privately-owned businesses. Its advanced technology s innovations such as in-play betting, same-game parlays, and AI-driven trading.

“Our big global networks mean we have unique data to guide our product development and stay ahead of the game,” Becher explained.

Erik Logdberg, Kambi’s managing director, highlighted the company’s successful partnerships with major U.S. operators, including Rush Street Interactive, Penn Entertainment, and Parx Casino. He expressed optimism about the Nevada opportunity, stating, “We see Nevada as a great business development opportunity for us given the success we’ve had in other U.S. states.”

Logdberg also noted that partnering with Bally’s in Nevada reflects Kambi’s high standards for technology and operations. However, the company did not confirm whether it will collaborate with Bally’s on its Las Vegas project at the former Tropicana site.

A Proven Model for Success

During the Nevada Gaming Control Board hearing, Kambi executives provided detailed insights into their operations and compliance measures. The company handles key responsibilities for its clients, such as managing customer funds, settling bets, resolving disputes, and ensuring tax compliance.

Kambi’s platform is tailored for a wide range of sports, with American football, basketball, soccer, tennis, and eSports being the most popular betting categories. Globally, the company processes over one billion wagers annually.

With approximately 50 employees in the U.S. and its core executive team based in Sweden, Kambi combines local expertise with global insights to offer unmatched services.

Future Prospects in Nevada

Kambi’s licensing in Nevada would allow it to strengthen its foothold in one of the most prominent sports betting markets in the U.S. Its planned collaboration with Bally’s Lake Tahoe marks the beginning of what could be a transformative chapter for the company in the Silver State.

Source:

“European operator Kambi prepares to enter Nevada sports betting market”, cdcgaming.com, January 15, 2025