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Kambi Group plc signs exclusive multi-state Sportsbook agreement with Penn National Gaming, Inc.

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The world’s leading sports betting supplier will provide North America’s largest regional gaming operator with its online and on-property Sportsbook and services

Kambi Group plc, the leading global sports betting supplier, has entered into an exclusive, long-term Sportsbook partnership agreement with Penn National Gaming, Inc., the largest regional gaming operator in North America.

Following a competitive selection process, Nasdaq-listed Penn National Gaming, Inc., which operates more than 40 gaming facilities across 19 U.S. states, will integrate the Kambi Sportsbook platform ahead of an on-property and online rollout in jurisdictions with active sports betting legislation.

Legal sports betting is currently active or pending in at least eight states where Penn National operates a gaming property, including West Virginia, Pennsylvania, Iowa and Nevada. In addition, bills that seek to regulate sports betting are on file across numerous states where Penn National has a land-based presence, potentially giving Penn National unrivalled access to regulated sports betting markets across the country.

The first launches are due to take place in Q3 2019, initially focusing on Penn National’s brick and mortar casinos in Iowa and Indiana, with online to follow in 2020.

The agreement is not expected to have a material impact on Kambi’s 2019 revenues but has the potential to have a significant effect on its revenues in future years, depending on the speed of rollout of relevant state regulations. The scale of the opportunity will result in additional short-term costs, particularly in relation to state licensing fees with an acceleration in licence applications required to capitalise on Penn National’s vast U.S. footprint.

Kristian Nylén, Kambi’s Chief Executive Officer, commented: “Kambi’s strategy has always been to partner with tier one operators, particularly those that share our vision and passion for sports and sports wagering. In Penn National, we have found an ideal partner – one that is not only passionate about providing high quality sports wagering experiences to its customers, but a company that adheres to the highest level of ethical business standards.

“It’s an honour for Kambi to be working with an organisation of the size and stature of Penn National, and we look forward to helping them become a national leader in the U.S. sports betting market in the coming years.”

The deal gives Penn National access to Kambi’s highly flexible and empowering technology, enabling the operator to develop a proprietary front-end and differentiated sports wagering experiences. Penn National also selected Kambi for its multi-channel capability, expertise in trading and risk management, record of delivery and commitment to integrity and corporate probity.

Jon Kaplowitz, Penn National’s SVP of Interactive, said: “Sports betting represents an exciting growth opportunity for Penn National. By controlling our front-end product and leveraging our vast casino footprint, our Company is well-positioned to execute on a sports betting strategy that maximizes value to shareholders. Utilizing Kambi’s best-in-class managed-trading services and omni-channel software allows us to effectively capitalize on this strategy.”


Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Kambi Group plc signs exclusive multi-state Sportsbook agreement with Penn National Gaming, Inc.

George Miller (Gyorgy Molnar) started his career in content marketing and has started working as an Editor/Content Manager for our company in 2016. George has acquired many experiences when it comes to interviews and newsworthy content becoming Head of Content in 2017. He is responsible for the news being shared on multiple websites that are part of the European Gaming Media Network.

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Amusnet Participates as Golden Sponsor in Bulgarian Diversity Charter’s Annual Meeting

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Amusnet has participated as a golden sponsor in the Bulgarian Diversity Charter’s annual meeting this May, organised by the Bulgarian Business Leaders Forum (BBLF) and the Centre for the Study of Democracy (CSD).

The event attracted more than 90 representatives from the Charter community. Official guests were Lazar Lazarov, Deputy Minister of Labour and Social Policy, Assoc. Prof. Ana Dzhumalieva, Chairperson of the Commission for Protection against Discrimination; Dimitar Markov, Director of the Legal Programme of CID; and Levon Hampartzoumian, Chairman of BFBL.

The meeting served as a powerful platform, uniting businesses and organisations dedicated to advancing workplace diversity and inclusion. This year’s gathering focused on the importance of values, featuring insightful discussions, invaluable networking opportunities and a prestigious ceremony with companies recognised for their unwavering commitment to these principles.

The Deputy Minister of Labour and Social Policy gave a compelling speech on the importance of diversity and inclusion in today’s business landscape. He also participated in the certificate presentation ceremony, where over 30 were honoured with membership certificates. These new members join a community of forward-thinking organisations that advocate for various perspectives and fairness in Bulgaria and beyond.

The Charter encourages adopting inclusiveness, fostering a more welcoming business environment. It provides a platform for organisations to share best practices and collaborate on initiatives that promote equality and respect for all individuals, celebrating the richness of diverse perspectives and experiences.

The post Amusnet Participates as Golden Sponsor in Bulgarian Diversity Charter’s Annual Meeting appeared first on European Gaming Industry News.

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Yggdrasil boosts UK presence with Lottomart launch

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Yggdrasil, a leading iGaming publisher, has further enhanced its reach in the UK market after rolling out its extensive slot portfolio with Lottomart.

The operator now has access to Yggdrasil’s entire games offering which has been curated for over 10 years and encompasses a diverse selection of titles with proven themes, mechanics and features.

Fan favourites include the hit Vikings series and newly released Gold Frontier Jackpots FastPot5 and Ragnaravens WildEnergy. Exclusive titles from the YGG Masters programs and slots incorporating Yggdrasil’s high-performing Game Engagement Mechanics (GEMs) have also been rolled out.

Lottomart is a leading UK online gaming operator, offering a varied range of products including over 2,500 casino games, lottery betting, and unique scratch cards.

The partnership sees Yggdrasil reach new audiences and cement its presence in Europe’s largest online gaming market where its portfolio has been available since 2016.

Jose Simon, Commercial Director at Yggdrasil, said: “The UK remains a key market for Yggdrasil with our games resonating well with local players and together with Lottomart, we’re able to introduce our award-winning titles to even more slot fans.

“Lottomart offers its customers a leading online casino with an array of games from the best providers in the world and we are thrilled to join their list of trusted partners.”

The post Yggdrasil boosts UK presence with Lottomart launch appeared first on European Gaming Industry News.

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MGA Provides Information on Updates Made to Audit/Review Process

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The Malta Gaming Authority (MGA) has provided information to its Approved Audit Service Providers and current and prospective licensees about the updates made to the Audits section on the Authority’s portal, and the related Audit/Review process.

“The Malta Gaming Authority (the Authority) would like to inform its Approved Audit Service Providers and current and prospective licensees of minor updates made to the Audits section on the Authority’s portal, and the related Audit/Review process. The following information outlines the considerations to be made for the auditing process, and the submission of reports for any of the System Audits, System Reviews and/or Compliance Audits engagements, hereinafter referred to as the ‘Audits’.

“After receiving approval from the Authority, the appointed Service Provider has sixty (60) days to complete System Audits and System Reviews, and ninety (90) days for Compliance Audits. The completed Audit report must be submitted electronically through the Authority’s portal. Should the appointed Service Provider identify any instances of non-compliance during this review period, the licensee should be notified, and the licensee is strongly encouraged to address and rectify any identified issues within their documentation and/or systems throughout the Audit period.

“In such circumstances, the Approved Service Provider must conduct fresh audit checks of the identified non-compliances and appropriately mark such checks within the Audit Report as ‘Resolved at Audit Stage’, if deemed to be compliant. Furthermore, the ‘Partially Compliant’ status can be used if an audit check is found to be partially compliant with the Regulations.

“In view of these changes, the Authority has added two new External Audit Conclusions statuses, these being ‘Resolved at Audit Stage’ and ‘Partially Compliant’, for the Service Providers to be able to report the Audit findings accordingly.

“Should there be any instances of non-compliance which cannot be resolved within the Audit deadline, the licensee may request a one-time extension of the Audit deadline to resolve and re-audit the identified systems and/or documentation issues. The request of such an extension would need to be accompanied by a summary of the issue/s, and a plan of rectification. The extension is at the Authority’s discretion, the time-frame of which shall be determined by the Authority.

“It is important to note that the Authority retains the right to reject an Audit Report if it is unable to arrive at a conclusive review outcome due to a significant number of instances of non-compliance.”

The post MGA Provides Information on Updates Made to Audit/Review Process appeared first on European Gaming Industry News.

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