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”Kambi added that the agreement “is expected to have a small positive impact” on its 2020 revenue but that the “partnership has the potential to become a material source of revenue over the course of the contract. CDI has since entered multiple states with BetAmerica.After recently entering Michigan’s sports betting and iGaming market, Churchill Downs Incorporated (CDI) (NASDAQ:CHDN) has inked multi-year agreements with Game Account Network (GAN) and Kambi Group plc for its BetAmerica sports betting brand....

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BetAmerica acquisition:CDI, which also owns advanced deposit wagering site (ADW), TwinSpires, acquired BAM Software and Services, LLC (BetAmerica) on April 24, 2017, after, in December 2016, it [BetAmerica] lost permission of the Thoroughbred Owners crown holdem poker jdbbof California (TOC) to offer wagering in California to residents of “The Golden State.”In a company press release, Chief Executive Officer for Kambi, Kristian Nylén, said…“It’s a pleasure for Kambi to be partnering with CDI and its BetAmerica brand, which has the potential to benefit from its market access and existing customer database.The London-headquartered supplier went on to say that it will publish third-party sports betting content obtained from Kambi which is currently integrated into its platform and available to clients....

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The high volatility slot features mystery symbols, reel modifiers, and extra spins with symbol upgrades, along with a potential for wins of over 40,000x. The content agreement will see Pragmatic’s full portfolio go live with the leading Brazilian operator.”The acquisition was in anticipation of the May 2018 PASPA (Professional and Amateur Sports Protection Act) reversal, which saw the US Supreme Court determine that the 1992 federal law violated constitutional principles by forcing states to ban sports betting under their own laws....

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”Michigan launch:Earlier this month, CDI announced that its newly-signed partnership with Hannahville Indian Community will see its BetAmerica sports betting and iGaming platform launched in Michigan, where sportsbetting and online casino gambling were legalized in December 2019. CDI has since entered multiple states with BetAmerica.”The acquisition was in anticipation of the May 2018 PASPA (Professional and Amateur Sports Protection Act) reversal, which saw the US Supreme Court determine that the 1992 federal law violated constitutional principles by forcing states to ban sports betting under their own laws....

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The content agreement will see Pragmatic’s full portfolio go live with the leading Brazilian operator.”For its part, CDI Chief Executive Officer Bill Carstanjen said…“We believe the transition to Kambi and GAN as our new technology providers will enable our team to execute the rollout of BetAmerica sportsbooks and iGaming product offering more efficiently as states move to legalize and implement regulations permitting sports betting and iGaming in the coming years.”Kambi added that the agreement “is expected to have a small positive impact” on its 2020 revenue but that the “partnership has the potential to become a material source of revenue over the course of the contract....

 

 

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