Kambi has entered into an agreement to supply its sports betting technology and services to the Choctaw Nation’s gaming enterprises, encompassing both online and retail sports betting. The Choctaw Nation operates Choctaw Casinos & Resorts, which includes various gaming and hospitality locations throughout southeastern Oklahoma, notably its flagship casino near the Texas border.
Despite Oklahoma's current lack of legal sports betting—where both in-person and online wagering remains prohibited—the deal presents opportunities for Kambi to expand into additional states, pending the necessary regulatory approvals.
Kristian Nylén, Kambi’s CEO and co-founder, expressed enthusiasm for the partnership, labeling it a 'landmark' agreement with significant long-term potential. He stated, 'Not only does the Choctaw Nation have fantastic, well-positioned gaming and entertainment facilities in Oklahoma, but its proven track record in developing successful digital businesses gives me every confidence that together we will create thrilling sports betting experiences for its players.' Nylén emphasized that trust is essential in tribal partnerships, expressing hope for a first-rate sportsbook that would yield sustainable revenues for the Choctaw Nation.
Heidi Grant, the senior executive officer of commerce for the Choctaw Nation of Oklahoma, echoed his sentiments, stating the deal aligns with the Nation’s growth ambitions within Oklahoma and beyond. 'We are thrilled to have entered into a long-term agreement with Kambi,' Grant said. 'Adding Kambi’s best-in-class technology and custom player offerings to the Choctaw Nation’s brand and market positioning, the Choctaw Nation is poised to remain well positioned as the premier, full-service, vertically integrated gaming operator throughout our region.'
The prospects for legal sports betting in Oklahoma have been a topic of discussion, though concrete steps toward legalization remain pending. Last year, Governor Kevin Stitt proposed measures to legalize both online and in-person sports betting, noting that retail betting would be confined to federally recognized Indian tribes. He suggested taxing in-person wagering revenue at 15% and proposed that mobile betting operators would require licenses costing $500,000 initially, with an annual renewal fee of $100,000. Those holding mobile licenses could accept bets statewide, incurring a higher tax rate of 20% on revenue. However, despite these proposals and the impending end of the current legislative session, there has been little progress toward implementation.
In the meantime, Kambi's announcement comes on the heels of its first-quarter financial results, which showed revenue of €43.2 million, slightly down from €44.0 million during the same period last year. The company reported a net profit of €3.2 million and an EBITDA of €14.1 million, marking a 10.2% rise from the previous year’s same quarter.
