Kambi Extends Sportsbook Partnership With LeoVegas Group Through 2031 in €120M Deal
Sports betting supplier Kambi has renewed its long-standing partnership with MGM-owned LeoVegas Group in a multi-year agreement valued at approximately €120 million. The extended deal will see Kambi continue powering LeoVegas sportsbook operations across European markets through 2031, with expanded scope covering emerging jurisdictions.
Kambi Group announced today it has extended its sportsbook partnership with LeoVegas Group, the online gaming subsidiary of MGM Resorts International, in a deal worth approximately €120 million over five years. The renewed agreement, which extends the existing partnership through 2031, includes expanded terms covering additional European territories and provides LeoVegas with access to Kambi's newly launched modular Turnkey Plus platform.
The partnership between the two companies dates back to 2016 and represents one of Kambi's most enduring operator relationships. Under the extended terms, LeoVegas will continue receiving Kambi's full-service managed trading and risk management alongside odds compilation across sports markets, while gaining greater flexibility to integrate proprietary front-end features developed by LeoVegas's in-house technology team in Stockholm. The deal notably covers LeoVegas brands operating in Sweden, Denmark, Italy, Spain, and the Netherlands, with provisions for future rollout in Finland once the country's forthcoming licensing regime takes effect in 2027.
"LeoVegas has been instrumental to Kambi's growth story, and this extension reflects the depth of collaboration we've built," said Werner Becher, CEO of Kambi Group. LeoVegas Group CEO Gustaf Hagman added that the extended partnership allows the operator to focus resources on player experience and casino product development while leveraging Kambi's specialist trading infrastructure. The announcement comes as Kambi continues rebuilding its B2B pipeline following the departures of Kindred and DraftKings in previous years.
Analysts at Regulus Partners noted the deal provides Kambi with important revenue visibility through the late decade and validates its strategic pivot toward modular, componentized offerings that allow operators to blend supplier technology with proprietary tools. Kambi shares rose 6.4% on the Stockholm Nasdaq First North exchange following the announcement, reaching a six-month high as investors welcomed the extended commitment from one of the supplier's flagship clients.