Kambi Approved for Nevada Gaming Operations

Article by : Erik Gibbs Feb 4, 2025

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Kambi has received approval to operate in Nevada after the state’s Gaming Commission granted the company a license. This decision follows a unanimous recommendation by the Nevada Gaming Control Board last month, marking a significant step for the Swedish sports betting technology provider as it continues expanding in the US market.

Kambi CEO Werner Becher described the approval as a major milestone for the company, emphasizing its advanced technology, regulatory expertise, and strong corporate reputation. He highlighted Nevada’s strict regulatory standards, noting that gaining approval in the state demonstrates Kambi’s commitment to compliance and operational excellence.

Nevada remains one of the most important gambling markets in the United States, having set a record for gaming revenue in 2024. The state saw a total betting turnover of $15.6 billion for the year, with $1.46 billion wagered in December alone, reflecting a 2% increase compared to the previous year. Despite a decline in casino revenue along the Las Vegas Strip, other areas such as downtown Las Vegas, Reno, and unincorporated Clark County have experienced growth.

Kambi’s approval is part of its broader expansion strategy, which began when the U.S. legalized online sports betting in 2018. The company currently processes over a billion wagers annually and operates in more than 50 jurisdictions worldwide. In North America, Kambi serves 15 states in the US as well as Ontario, Canada.

The firm has already established partnerships with major operators, including Bally’s Nevada properties, where it provides business-to-business sportsbook solutions. Additionally, it works with PENN Entertainment, Rush Street Interactive, and Mohegan to support their sports betting platforms. Kambi’s success in securing a Nevada license strengthens its position in the industry, allowing it to offer its services in one of the most competitive gaming markets in the world.

Nevada maintains unique sports betting regulations compared to other states, requiring bettors to register in person at a casino before placing online wagers. Despite these restrictions, the state remains a major hub for sports betting, particularly with major events such as the Super Bowl and NCAA basketball tournaments drawing significant wagering activity. Analysts expect strong betting figures to continue in early 2025 as these high-profile events dominate the sports calendar.

Kambi’s recent expansion efforts align with leadership changes within the company. Mattias Frithiof was recently appointed senior vice president of Investor Relations and Sustainability, taking on responsibilities related to financial reporting and corporate strategy. His role will focus on strengthening Kambi’s long-term growth and regulatory compliance as the company continues its expansion in North America and beyond.

By securing approval in Nevada, Kambi has reinforced its presence in the US sports betting industry. The company’s commitment to regulatory compliance and technology-driven solutions positions it as a key player in an increasingly competitive market.