This is an exclusive publishing agreement for the North American and European regions. The press release mentions they are collaborating on releasing an unnamed game next year.
Smilegate RPG’s only title in development at this time is Lost Ark Online for PC (which is live in South Korea, Russia, and Japan) so this is likely the long awaited western release of the game. Amazon Games is an interesting choice since they are a new entry in the field not only in terms of game development (they are currently working on New World and Crucible), but also third party publishing.
This could potentially be promising as far as monetization goes given Amazon’s vast resources and economies of scale not only on the retail side, but also on the IT services side with AWS unlike traditional game publishers. Amazon also owns streaming broadcast site, Twitch.