Sports betting supplier Kambi plc continues its U.S. growth, announcing a partnership on Monday with Hard Rock Digital.
Kambi will provide the parent company of sports betting operator Hard Rock Bet with pre-match and live betting odds through the power of its turnkey sportsbook and AI trading division Tzeract.
Hard Rock Bet expects to launch Kambi’s Odds Feed+ in eight U.S. states during the fourth quarter of 2024. Terms of the deal were not disclosed.
The technology will allow Hard Rock Bet to customize its odds-feed package on demand and expand its global sports offerings to customers.
“The addition of Kambi’s odds feed will provide us with a greater range of betting options and more flexibility, while still allowing our team to maintain control of our core product,” Matt Primeaux, Hard Rock Digital executive managing director and president, said. “We’re excited to partner with Kambi and create more unique experiences for players on our top-rated platform.”
Expanding business
Hard Rock Bet operates in Arizona, Florida, Illinois, Indiana, New Jersey, Ohio, Tennessee, and Virginia. The Seminole Tribe-owned sportsbook is the only legal operator in the Sunshine State, giving Kambi access to the key Florida market and expanding the gaming supplier’s U.S. reach.
In 2023, the technology provider, which was named Sportsbook Supplier of the Year for the second consecutive year at the Global Gaming Awards, recently extended its partnership with U.S. sports betting and iGaming operator Rush Street Interactive.
Kambi also has an exclusive sportsbook agreement with Bally’s Corporation’s BallyBet.
The company denied rumors last month that technology and data provider Genius Sports was in discussions to acquire Kambi.
Potential revenue
Adding Hard Rock Bet to the mix is part of Kambi’s long-term B2C strategy, which shifted earlier this year based on slow regulatory processes in key markets.
The company noted that the odds feed, as well as other potential services provided to Hard Rock, have “great potential to become a significant source of revenue,” which was up 6% year-over-year in Q2.
“This Odds Feed+ partnership with Hard Rock Digital represents another important step forward for Kambi,” Kambi CEO Werner Becher said. “The deal builds on the strategy Kambi set out 18 months ago to leverage our position as the world’s leading sportsbook provider with the offer of standalone products that uniquely benefit from our turnkey sportsbook. Hard Rock is one of the leading sportsbook operators in the U.S. and precisely the kind of prestigious partner we were targeting as part of this modularisation approach.”
