Kambi Extends Sportsbook Partnership with LeoVegas Group Through 2031 in Landmark Renewal
Stockholm-based sportsbook supplier Kambi has secured a five-year extension with MGM Resorts-owned LeoVegas Group, cementing one of the longest-running B2B relationships in European online betting. The renewed agreement expands coverage to include newly regulated markets and introduces a hybrid tech stack allowing LeoVegas greater customization of its trading operations.
Kambi Group announced Saturday that it has renewed its long-standing sportsbook partnership with LeoVegas Group through the end of 2031, extending a commercial relationship that dates back to 2016. The deal, valued by analysts at north of €200 million in cumulative fees over its lifetime, covers LeoVegas-owned brands including LeoVegas Sport, Expekt, and BetUK across more than a dozen regulated jurisdictions in Europe and Latin America.
Under the renewed terms, LeoVegas will migrate to Kambi's modular Open Platform framework, which allows operators to plug in proprietary trading, risk management, or player-facing components alongside Kambi's core turnkey services. LeoVegas CEO Niklas Lindahl said the flexibility was decisive in the renewal, noting that the group's Danish and Swedish trading teams will now handle a greater share of in-house pricing on niche markets while Kambi retains responsibility for tier-one football, tennis, and North American sports feeds.
The agreement also formalizes Kambi's role in LeoVegas' planned entries into Peru and the soon-to-regulate Finnish market, where MGM Resorts has signaled ambitions to compete with incumbent Veikkaus once the state monopoly ends in early 2027. Kambi CEO Werner Becher described the extension as validation of the company's post-DraftKings strategic pivot toward deeper, more customizable partnerships with mid-tier and Tier-1 operators following several years of client churn.
Shares in Kambi rose 8.4% in after-hours trading on Nasdaq Stockholm following the announcement, recovering ground lost after the supplier's Q2 earnings warning in July. Industry analysts at Regulus Partners noted that the LeoVegas renewal, combined with recent extensions signed with Rank Group and LiveScore Bet, suggests Kambi has stabilized its client book heading into 2027 and may again pursue growth in the U.S. tribal gaming segment where it has historically underperformed.