Gaming Control Board recommends licensing for sports-betting company
The Nevada Gaming Control Board on Wednesday recommended approval of licenses for a Malta-based sportsbook company that will support Nevada’s Bally’s Corp. properties on a business-to-business basis.
In unanimous votes, board members backed Kambi Group PLC after a nearly two-hour hearing.
Final licensing approval will be considered by the Nevada Gaming Commission on Jan. 30.
If licensed, Kambi would provide software and set up and maintain the sports-betting platform for its regulated clients. It has no immediate plans for business-to-consumer operations.
Kambi’s top customer in the state is Bally’s, which operates a casino at Lake Tahoe. A company representative said there are no immediate plans for future Bally’s developments in Las Vegas. The company has discussed developing a resort at the former site of the Tropicana in connection with the construction of a Major League Baseball stadium for the Athletics on the southeast corner of Tropicana Avenue and Las Vegas Boulevard South.
“We view Nevada as a great business opportunity,” Erik Logdberg, managing director of Kambi, told the board.
The company, established in 2010, serves more than 40 operators in more than 50 jurisdictions. As a global sports-betting company, executives said it supports businesses that take wagers on soccer and tennis matches, basketball and eSports. They said their U.S. outlets, mostly in markets in New Jersey and Pennsylvania, capitalize on betting on American football. It processes more than 1 billion wagers each year.
Most of the company’s executive team is based in Sweden.
This is a developing story. Check back for updates.
Contact Richard N. Velotta at rvelotta@reviewjournal.com or 702-477-3893. Follow @RickVelotta on X.
