DraftKings and Kambi to cooperate for Q3 2021 tech migration
Daily fantasy and sports betting operator DraftKings and B2B sports betting supplier Kambi have reached an agreement to cooperate on DraftKings’ migration from Kambi’s back-end platform services to SBTech’s.#
Both companies agreed to work towards a termination date for their partnership of 30 September, 2021, but DraftKings will have permission to leverage its proprietary technology before then.
DraftKings will migrate its operations to SBTech’s platform, after shareholders of Diamond Eagle Acquisition Corp. approved the acquisitions of both companies, and the public listing of the new entity under the name DraftKings Inc. in April this year. The merger was first agreed upon in December 2019.
Commenting on the agreement, DraftKings’ president of global technology and product, Paul Liberman, said: “Kambi has been a collaborative partner and was instrumental in DraftKings being first to market in New Jersey with our sportsbook”.
The merged company reported losses of $74.0m for Q1 2020, despite bringing in combined revenue of $113.5m, up $43.5m year-on-year.