Kambi Archives

January 8, 2024

Kambi CEO Kristian Nylén announces resignation

CEO and co-founder of Kambi, Kristian Nylén, has notified the board of his intention to step down from his current position during the year, upon the appointment of a successor.

Nylén co-founded Kambi with Anders Strom in 2010. He has since built the company into one of the industry’s leading sportsbook suppliers.

It is understood that Nylén’s decision to resign is driven by his desire to spend more time with his family.

Commenting, Nylén said: “The decision to stand down from my position at Kambi after so many enjoyable years has been difficult, but one predominantly driven by my desire to spend more time with my young and growing family.”

Nylén plans to stand down from his current position during the year, upon the appointment of a successor.

The market has so far not reacted too heavily to the news. At the time of writing, Kambi’s share price was down 1.83%, to SEK160.50 (€14.79/ £12.29/ $15.69).

Timing of Nylén’s resignation

Nylén’s announcement follows a period of sustai..

October 6, 2023

Kambi to power 711’s expansion into Dutch online sports betting market

Sports betting solutions provider Kambi Group has partnered with 711 to support the online gambling operator’s expansion into the Dutch sports wagering market.

Under the deal, Kambi will provide 711 with its Complete sportsbook. This includes a sports betting platform, its Bet Builder offering and AI-powered trading products.

Belgium-based 711 currently only offers online casino to customers in the Netherlands via its internet casino games licence. The operator launched in the Dutch regulated market last year.

However, having partnered with Kambi, 711 will apply to Dutch regulator Kansspelautoriteit to extend this licence to also cover online sports betting.

“711 online casino has achieved strong growth since we debuted in the Netherlands,” 711 COO Gilles de Backer said. “It became clear that sports betting would be an important next step in the brand’s journey.

“By partnering with a leading sportsbook provider like Kambi, we are excited to be in a position to provide our growing..

July 26, 2023

Shape Games, operator margins lift Kambi Q2 results

Kambi Group CEO Kristian Nylén cited a high operator trading margin and the growing impact of the integration of Shape Games for driving a 24% rise in Q2 year-on-year revenue.

Kambi’s sales increased to €42.9m (£36.8m/$47.5m) from €34.7m in Q2 2022. This lifted H1 revenue to €86.9m, up from €71.5m last year.

“The second quarter of the year was another encouraging period for Kambi as we made significant strategic progress towards executing our long-term growth strategy, including a tier-one partner signing, key partner renewals and the continued development of our AI trading capability,” Nylén said.

Bally’s opportunities

The importance of a partnership with Bally’s Corporation in Q2 was also underlined.

“From a commercial perspective, we were delighted to welcome Bally’s Corporation to the Kambi network in Q2,” Nylén said. “As we further solidify our market leadership position, this partner win is a major milestone for the business and comes on the back of our flexible product str..

July 14, 2023

Kambi and Eyas target Brazil with Lance! Betting launch

Kambi Group has partnered with Eyas Gaming and Brazilian-facing football media website Lance! to launch a new online sportsbook in the country.

Under the deal, Kambi will power the launch of the “Lance! Betting” brand with its sports betting technology.

The new sportsbook will draw on the existing Lance! following of more than 15 million active users per month. Eyas Gaming, backed by the Gauselmann Group, will oversee the running of the brand.

The partnership with Eyas Gaming could lead to the launch of sports betting in other markets in future, Kambi added.

Kambi “a natural choice” for Eyas

“It is a pleasure to have put pen to paper on this agreement with Eyas Gaming,” Kambi’s co-founder and chief executive Kristian Nylén said. “They are an operator whose management team boasts clear expertise and a passion for sports betting that mirrors our own.

“This agreement further bolsters Kambi’s impressive range of partners throughout Brazil and Latin America. We are excited to capitali..

June 19, 2023

Kambi and LeoVegas extend sportsbook partnership

Kambi and LeoVegas have agreed to a multi-year extension of their existing sportsbook partnership.

As part of the extended agreement, Kambi will continue to supply its sportsbook technology and services to LeoVegas.

This is the second renewal of the partnership, which first began in 2016. The first renewal took place in 2020.

Kristian Nylén, chief executive officer and co-founder of Kambi, said that the partnership renewal spoke to Kambi’s sportsbook capabilities.

“We are delighted to extend our sportsbook partnership with LeoVegas Group, a world-leading operator with a strong track record of success,” said Nylén.

“Renewing this partnership for a second time is a further testament to the strength of Kambi’s cutting-edge technology and services as we continue to pioneer next generation betting entertainment for players across the globe.”

Strategic developments

In this year alone, both Kambi and LeoVegas have made significant moves in the sports betting space.

In April, Kambi ext..

April 6, 2023

Kambi agrees deal extension with BetPlay operator

Sports betting supplier Kambi Group announced an extension of its sportsbook deal with Colombian BetPlay operator Corredor Empresarial SA.

The deal is the second renewal of the initial agreement that the two parties first signed in 2017, since which BetPlay has become the Colombian market leader.

The provider said that the Latin American has become a “key market” for the supplier, with BetPlay utilising a number of Kambi’s technology and services, including its Bet Builder product.

“We are pleased to agree a long-term extension to our successful partnership with Corredor Empresarial, providing its customers with next generation betting entertainment,” said Kambi CEO and co-founder Kristian Nylén.

“The Latin American market continues to hold great promise for Kambi and we look forward to aiding Corredor Empresarial as it expands across the region with Kambi’s cutting-edge complete sportsbook.”

As part of the renewal contract, the provider will continue to power BetPlay’s sportsbook..

November 9, 2022

Kambi to power Liberman Media’s sportsbook launch in Puerto Rico

Kambi Group has agreed to support LMG Gaming (LMGG), owned by Puerto Rican media business Liberman Media Group, with the launch of a new sportsbook product in the unincorporated US territory.

Under the long-term partnership, Kambi will provide its sportsbook technology to power LMGG’s ApuestaPR betting brand, which will initially launch online and potentially be expanded to retail in the future.

LMGG will also make use of Kambi’s application programming interface (APIs) and range of marketing tools to help promote the brand on LMG’s Teleonce television network in the region.

“After extensive research the choice was clear, Kambi is by far the best-in-class sportsbook in the industry and we are honoured to build our business in Puerto Rico with them,” LMGG partner Winter Horton said.

“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 Puer..

October 21, 2022

Great Canadian to launch sportsbooks at its casinos with Kambi deal

Land-based gaming and entertainment company Great Canadian Entertainment is set to launch sports betting at its venues, thanks to a new deal with Kambi.

As part of the deal, Kambi will provide its retail sportsbook product to ten of Great Canadian Entertainment’s Ontario-based casinos.

This includes Kambi’s sportsbook solution, as well as betting kiosks.

Read the full story on iGB North America

October 14, 2022

Playing the long game

Last week, sports betting solutions provider Kambi and Penn Entertainment finalised the terms of their long-awaited migration deal, wherein Penn’s online and retail sportsbooks will migrate to its proprietary technology. Marese O’Hagan speaks to Kambi CEO Kristian Nylén about the future of the deal and the rise of vertical integration.

In August 2021, Penn Entertainment – then known as Penn National Gaming – announced that it would acquire Canadian sportsbook theScore for $2.0bn (£2.79bn/€2.05bn). The plan was to migrate Penn’s betting products onto a platform created by theScore, which did not yet exist at the time of the deal.

Having worked with Penn since 2019, this deal came as a disappointment to Kambi. From Kambi’s perspective, it was losing a vital client to a platform that had not yet been created. And it certainly didn’t help that the announcement came on the back of the migration of another high-profile client in DraftKings.

The finalisation of Kambi and Penn’s migration a..

August 23, 2022

Kambi pens multi-channel sportsbook deal with Oaklawn Racing Casino Resort

Kambi Group has entered into a multi-channel sportsbook agreement with Oaklawn Racing Casino Resort in the US state of Arkansas.

Under the deal, Kambi will provide its on-property and online sportsbook solutions direct to the thoroughbred racetrack and casino.

Kambi will support Oaklawn with the launch of its online sportsbook operations under the brand “Oaklawn Sports”, subject to Arkansas passing the relevant laws. Online gambling of any kind is not yet legal in the state.

In addition, Kambi will continue to provide its retail sports betting solution to Oaklawn. The venue has been offering sports wagering through Kambi’s retail sportsbook since last year, with the new, multi-channel deal replacing the existing agreement.

“Oaklawn has been one of the most trusted brands in Arkansas for more than 100 years and we are excited to now offer our loyal customers yet another great amenity with our much-anticipated mobile wagering platform,” Oaklawn general manager Wayne Smith said.

Kamb..

August 9, 2022

Kambi to launch in up to seven provinces of Argentina

Online sports betting provider Kambi has penned an agreement with Ondiss to exclusively provide its sports betting technology services to an Argentinian group of three operators.

The deal will see Kambi grow its Latin American footprint with launches in up to seven new Argentinian provinces with the BetWarrior, Casino Magic and Casino Club brands.

Kambi will grow from providing its sportsbook technology services from three today to as many as ten Argentinian provinces in the coming months.

Kambi CEO and co-founder Kristian Nylén argued to the potential that the Latin America has for the supplier.

“The Latin American market continues to hold great promise for Kambi, so I am delighted to sign this exclusive agreement with Ondiss to support these visionary operators across Argentina,” he said.

“BetWarrior and Casino Magic have proven fantastic partners for Kambi since going live and we look forward to working with the two brands, as well as Casino Club, even more closely as they loo..

July 27, 2022

Kambi pivots to modularisation as DraftKings exit continues to hit Q2 revenue

Betting supplier Kambi will increase its focus on modularised products rather than its full sportsbook solution – and may seek to make acquisitions – after key client DraftKings’ migration away from Kambi’s sportsbook continued to affect its earnings in Q2.

Revenue for the supplier for the quarter ended 30 June was down by 18.8% from Q2 of 2022 to €34.7m (£29.2m/$35.2m), a change the business said was due to the migration of US betting giant DraftKings away from Kambi’s platform and onto the SBTech product it acquired in 2020.

While DraftKings has already completed its migration, two other key clients are also taking steps to move away from its platform in favour of in-house options. Unibet operator Kindred has been building its own platform, set to launch when its partnership with Kambi ends in 2024.

If DraftKings – which produced 25% of Kambi’s revenue the prior year – is excluded, revenue was up 16% from Q2 of 2021.

Penn National gaming, meanwhile, acquired theScore last year, ..

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Tag: Kambi