Kambi to power Allwyn’s sportsbook technology consolidation in source code licensing agreement

Kambi Group plc (“Kambi”), the world-leading provider of cutting-edge sports betting technology and services, has entered into agreements with Allwyn AG (“Allwyn”), a multi-national lottery-led gaming entertainment company. Under the agreements, Kambi will grant Allwyn a perpetual, global license to its sportsbook source code and provide associated services to Allwyn, as well as trading services.

Allwyn is listed on Euronext Athens with market-leading positions across Europe and North America. Allwyn holds long-term national lottery licences in Austria, Cyprus, the Czech Republic, Greece and the UK, and has a significant sports betting and iGaming presence across multiple markets.

Based on current assumptions, the agreements are expected to contribute approximately €45 - 50 million to Kambi’s operating profit during 2027–2031, with around 40% and 20% of this being recognised in 2027 and 2028 respectively. These estimates include an upfront payment in early 2027 and milestone payments linked to deliveries in subsequent years.

The parties have also entered into a long-term trading services agreement under which Kambi will provide its proprietary AI-powered trading and risk management capabilities, which also acts to further strengthen Kambi's global network and liquidity pool.

Werner Becher, CEO of Kambi, said: 
“This agreement shows the quality and strategic value of the sportsbook technology Kambi has built over more than 15 years. A global market leader like Allwyn choosing our technology to unify its sportsbook operations reflects the strength of our product, our expertise and our track record of delivering at scale in regulated markets. It also brings Kambi significant long-term commercial value and shows how we can create additional value from the capabilities we have built, through strong, long-term partnerships.” 

Kresimir Spajic, CEO, Allwyn Digital, said: 
“We are delighted to announce further progress in our strategy to own and manage key technology and content capabilities that enhance product innovation, differentiation and time to market, and support our ability to deliver a best-in-class customer proposition.  
“Our agreement with Kambi, leveraging its proven, scalable technology and deployment expertise to bring our sportsbook platform in-house, represents an important step in that strategy, giving us greater freedom to evolve our offering, tailor products to individual brands and markets, and build a scalable foundation to accelerate future growth.” 

The licensed source code is for Kambi’s proven sportsbook technology, which has powered tier one operators for more than 15 years. The technology supports multi-brand and multi-regulation operations and currently serves partners across more than 100 jurisdictions worldwide. As part of this project, Kambi will build and train a team that will transfer to Allwyn following implementation of Kambi’s source code, to give the operator full operational control and development capabilities. This will add to Kambi’s operating expenses during the 2027–2029 implementation period.

Kambi's capital allocation priorities remain unchanged. The intention is that the majority of net proceeds generated from the agreements will be returned to shareholders, while retaining sufficient financial flexibility to support the continued development of Kambi's products and technology.

Kambi invites analysts, investors and media to a call at 15:30 CET with CEO Werner Becher and CFO David Kenyon to discuss today’s announcement and answer questions. The call can be accessed using the following link: https://kambi.wistia.com/live/events/st2s9iclvf