Details Of The Agreement
On Nov. 8, Kambi Group announced the formation of a long-term partnership with LMG Gaming, a subsidiary of Puerto Rican media company Liberman Media Group. The agreement seeks to combine Kambi’s sports betting services with LMG’s betting brand, ApuestaPRm to offer mobile and retail sports betting in Puerto Rico.
Kristian Nylén, Kambi Chief Executive Officer and Co-Founder, said: “Partnering with LMG Gaming is an exciting opportunity, as they are on a mission to create the most engaging sports betting product in Puerto Rico.”
The goal is to boost the market position of ApuestaPR in Puerto Rico, using Kambi’s technology and LMG’s television network, Teleonce. Streamlined access to Teleonce gives ApuestaPR unique marketing opportunities and exposure on a top-rated Puerto Rican television network.
“By leveraging Kambi’s enhanced empowerment and marketing tools, alongside its popular Teleonce brand, LMG Gaming will be able to reach its target audience and drive player engagement through a bespoke betting experience,” said Nylén
This, combined with Kambi’s API’s, LMG celebrity endorsements, and a talented roster of on-air personalities will allow ApuestaPR to “differentiate itself from competitors,” per Kambi’s press release.
“With our top-rated Teleonce television network providing unlimited marketing and our key retail relationships, we are very confident that ApuestaPR will be the number one sports betting platform in Puerto Rico,” said partner at LMG Gaming, Winter Horton.
Welcome to the Kambi partner network, LMG Gaming.
Owned by Liberman Media Group, LMG Gaming and Kambi have signed a long-term partnership agreement which will see Kambi provide its high-performance sportsbook services to the operator's ApuestaPR brand. https://t.co/N94YxswZwG pic.twitter.com/fZnDSGRUNe
— Kambi (@KambiSports) November 8, 2022
Puerto Rico Sports Betting Outlook
Puerto Rican lawmakers legalized sports betting in 2019. It wasn’t until Feb. 11 of this year that BetMGM got the ball rolling with the launch of its retail sportsbook on the island. Their retail sportsbook is located in Casino del Mar in San Juan. When they launched their brick-and-mortar sportsbook, they announced their intent to launch their mobile sportsbook when it became legal to do so in Puerto Rico.
While BetMGM’s in-person sportsbook is currently the only option, FanDuel and DraftKings are not far behind. In late 2020, FanDuel partnered with CAGE to enter the Carribean sports betting market. As of now, nothing has come of it, but when online sports betting launches on the island, FanDuel is expected to put this partnership to use.
Then in April 2022, DraftKings announced a partnership with the Mashantucket Pequot Tribal Nation which gives them access to the legal betting market in Puerto Rico. This tribe currently operates the Foxwoods El San Juan Casino and it is expected that DraftKings will open a retail sportsbook at that location.
Industry experts believe that once online sports betting is launched on the island, there will be an influx of sportsbooks looking to gain market access. As a popular tourist destination, Puerto Rico poses a valuable opportunity for operators to increase their exposure.