Following two extensive hearings with the Nevada Gaming Commission and the Nevada Gaming Control Board, Kambi Group announced that it has secured licenses to operate in the Silver State.
Earlier in January, Kambi Group obtained a unanimous recommendation from the NGCB as part of the licensing approval process. And on Thursday, January 30, the Commission granted its application for Manufacturer & Distributor Licenses as well as an Information Services License.
This regulatory green light means that the company can now supply its sports betting tech to non-restricted gaming platforms in Las Vegas and the rest of Nevada. Additionally, Kambi’s expansion to Nevada spotlights its position as one of the foremost sportsbook solutions providers in North America.
“Securing approval for our licences in Nevada is an important milestone for Kambi and a testament to our market-leading technology, regulatory expertise and corporate integrity…We would like to thank both the Commission and NGCB for their thorough review and approval of our applications,” chief executive officer of Kambi, Werner Becher said in a statement published on the company’s website.
Kambi has been at the forefront of sports betting expansion in the US since the repeal of the PASPA in 2018 and processed the “first legal online wager” outside Nevada. The company will therefore consider its entry into the Silver State as paving the way for establishing its footprint across North America.
Currently, sports betting is legal in 38 states across the US and Washington D.C., but only a few jurisdictions compare to Nevada in terms of the sheer size and potential of the industry. Lifetime wagering handle in Nevada up to December 2024 was an estimated $45.6 billion, with only New York and New Jersey posting more.
With the Super Bowl and the NCAA tournaments upcoming in the 2025 sports calendar, the prospects for improved figures in the coming months is high. These events can foster collaboration between Kambi and other brands, while enabling it to kick off operations in Nevada with a strong financial base.
Besides, B2B competition among sports betting solutions brands in Nevada is pretty limited due to demanding regulatory requirements that not too many brands can meet. Interestingly, in Nevada, bettors must first register in person before they are permitted to wager online.
Becher made a similar remark in the press statement: “Nevada is widely known as the gold standard for betting and gaming regulation, insisting on a standard that few companies can meet, and is therefore recognition of Kambi’s unwavering commitment to excellence.”
Nonetheless, Kambi’s experience and industry leading tech could ultimately present a unique opportunity for growth. The company can also channel its commitment to “the highest standards of regulatory compliance and corporate probity” to thrive in the market.
Handling over a billion wagers each year, Kambi provides its solutions to more than 45 sportsbook operators across 50 jurisdictions worldwide, including US states and Ontario, Canada. With its newly acquired regulatory permits, Nevada becomes the 15th US state where Kambi holds a valid operating license.
The Malta-based company also has a pre-existing exclusive B2B deal with Bally’s Corp physical sportsbooks in Nevada. Similarly, it has worked with other top names in the US sports betting industry, including PENN Entertainment, Mohegan and Rush Street Interactive. Kambi and its partners will be looking to advance their collaboration in the Silver State.
Kambi’s expansion follows closely on the heels of its partnership with online gaming company Stake to launch its turnkey sportsbooks in Brazil's market earlier in the year. The group also recently appointed Mattias Frithiof as its senior vice president of Investor Relations and Sustainability, tasked, among others, with leading the company’s corporate initiatives globally.