Under the deal, Kambi will provide sports betting technology and services to gaming companies in Chokto Nation, which covers both online and retail sports betting.
Choctaw Nation operates Choctaw Casino & Resorts, which owns a network of gaming and lodging destinations throughout southeast Oklahoma. The properties include representative casino locations near the Texas border.
The deal came despite Oklahoma not yet legalizing sports betting and betting in person or online remains illegal. It came despite the state having more than 130 Native American gaming and casino facilities.
Kambi, however, noted that the new agreement includes scope to expand to other states across online and retail, which are awaiting regulatory approval.
Cambi’s “Landmark” Sports Betting Agreement 안전 토토사이트
Kambi’s CEO and co-founder, Christian Nylen, welcomes the agreement, which he describes as a “breakthrough” partnership for Kambi with exciting long-term potential.
“Choto Nation has a fantastic and well-positioned gaming and entertainment facility in Oklahoma as well as a proven track record in developing a successful digital business gives athletes every confidence that it will create a thrilling sports betting experience,” said Nielen.
“Thanks to these exciting qualifications, Choto Nation has been an obvious partner. So I’m excited to see the benefits of Cambi’s proven technology and acknowledge our shared values.
“Through each inter-tribal partnership, trust is paramount. We look forward to delivering the best-in-class sportsbook generating long-term sustainable returns for the Choctaw Nation.”
Heidi Grant, a senior commercial executive at Choctonation, Oklahoma, also praised the new partnership. Grant said she supports the Nation’s growth ambitions in Oklahoma and beyond.
“We are excited to enter into a long-term agreement with Kambi,” Grant said. “Adding Kambi’s best-in-class technology and custom player offerings to Chokto Nation’s brand and market positioning, Chokto Nation is poised to remain well positioned as the premier full-service, vertically integrated gaming operator across our region.”
Is there any chance of making a legitimate bet in Oklahoma?
Oklahoma has made several attempts to legalize sports betting. However, the state is yet to push ahead with a firm plan, with no regulations in place.
Hopes were raised late last year when Gov. Kevin Stitt made a proposal to legalize online and in-person sports betting.
At the time, Stitt said retail betting would be limited to federally recognized Indian shortages under the state’s gaming contract. Direct betting revenue would be subject to a 15% tax rate, Stitt added.
For mobile bets, Oklahoma grants a license for operators to offer players this type of bet. The license adds an initial $500,000 and $100,000 annual renewal fee.
Mobile license holders will be able to receive sports betting anywhere in the state. A higher tax rate of 20% of their income will also apply.
But even as the state is nearing the end of its current legislative session, those plans have yet to come to fruition.
Camby Mixed Q1
For Cambi, the deal came after the group reported first-quarter earnings this week.
Revenue for the three months to March 31 was 43.2 million euros, down 1.8% from 44.0 million euros in the first quarter of last year. Cambi says this is also in line with expectations for the period.
Other major figures included a net profit of 3.2 million euros, down slightly from the first quarter of 2023. EBITDA for the quarter also rose 10.2% to 14.1 million euros.
