The Choctaw Nation of Oklahoma is embracing the future of gaming and entertainment by partnering with Kambi, a renowned provider of sports betting technology and services. Kambi’s industry-leading expertise will be integrated into the Choctaw Nation’s vast network of gaming entities, which includes both online platforms and land-based retail sports betting operations.
The Choctaw Nation operates under its highly successful brand, Choctaw Casinos & Resorts, and has established a series of gaming and hospitality venues in the south-eastern region of Oklahoma. Among these, the flagship casino near the Texas border stands out as a leading destination for gaming enthusiasts.
Despite the fact that Oklahoma has yet to legalize sports betting, with activities such as placing bets, whether online or in-person, still being illegal, the Choctaw Nation is positioning itself for future expansion. Impressively, Oklahoma boasts over 130 Native American gaming and casino facilities, and the new deal with Kambi not only serves the existing market but is also designed with the scope to broaden its footprint into other states as regulators open doors to sports betting.
Kambi is optimistic about the alignment, as CEO and co-founder Kristian Nylén has expressed his confidence in this “landmark” partnership and its significant potential. Nylén highlights Choctaw Nation’s excellence in operating premium gaming and entertainment facilities, as well as its knack for developing successful digital enterprises. He foresees the duo creating unparalleled sports betting experiences for players.
Acknowledging the importance of trust in collaborations with tribal partners, Nylén anticipates that Kambi’s time-tested technology will deliver a sportsbook experience that meets the highest standards, thereby generating sustainable, long-term revenue streams for the Choctaw Nation.
The sentiment is echoed by Heidi Grant, the senior executive officer of commerce for the Choctaw Nation of Oklahoma, who celebrates the partnership with Kambi as supportive of the Nation’s growth aspirations both within Oklahoma and in the greater region. Grant hails Kambi’s technological excellence, suggesting that by bringing together Kambi’s technological prowess with Choctaw Nation’s brand presence and market positioning, they are ready to maintain their status as a leading, comprehensive, vertically integrated gaming operator in their domain.
The quest to legalize sports betting in Oklahoma has seen multiple attempts, with Governor Kevin Stitt having outlined proposals for both online and in-person sports betting towards the end of the previous year. Stitt has advocated for retail betting to be confined to federally recognized Native American tribes with a potential tax rate of 15% on in-person wagering revenue. Mobile betting would see operators licensed by the state, with an initial licensing cost set at $500,000, followed by an annual renewal fee of $100,000. In what would be a digital leap forward, licensees could accept bets from across the state under a tax rate of 20% on revenue. Despite these ambitions laid out by the governor, Oklahoma’s legislative session is drawing to a close without these plans being realized.
Meanwhile, Kambi is pressing ahead, having just released its financial results for the first quarter. The company recorded revenues of €43.2 million for the period ending March 31, a marginal dip from the €44.0 million achieved in the same period last year, though in line with the company’s projections. While net profit was slightly down to €3.2 million, the firm saw an increase in EBITDA, up by 10.2%, reaching €14.1 million for the quarter.
As the industry anxiously watches Oklahoma’s legislative progression on sports betting, this alliance between Kambi and the Choctaw Nation signals a forward-looking strategy, one that is poised to change the gaming landscape for the region. The partnership speaks to a readiness to embrace change, with immediate plans for enhancing the tribal gaming experience and an eye on future possibilities that expanded legal frameworks may bring.
