Kambi and Mohegan amend sports betting deal ahead of Connecticut regulation
| By Marese O'Hagan
Kambi Group Plc (Kambi) and Mohegan Gaming and Entertainment (MGE) have agreed to amended terms in their respective sports betting services to coincide with Connecticut's impending state regulation.
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The amendment relates to to financial conditions outlined in Kambi and MGE’s initial agreement, which was signed in 2019.
The agreement term was set for five years.
As a result of the amendment, Kambi will receive the full revenue stipulated in the initial agreement, while MGE can collaborate to incept land-based and online sports betting in Connecticut without affecting Kambi’s revenue.
“While we had been looking forward to supporting MGE to become a sports betting leader in the Connecticut market, the amicable discussions between both parties have found a positive conclusion, with MGE respecting Kambi’s financial interests for the duration of the original agreement.” said Kristian Nylén, CEO and co-founder of Kambi.