Kambi has renewed its partnership with LeoVegas Group for the second time, as the MGM-owned gaming company seeks to expand its sports betting operations.
The multi-year extension sees Stockholm-listed B2B provider Kambi continue to provide its sports betting technology to LeoVegas. This will include its AI-powered trading service and Bet Builder product.
LeoVegas has been a client of Kambi since 2016, during which time it has utilised the firm’s solutions across three core verticals, including the sportsbook offering on its flagship LeoVegas platform as well as the UK-facing BetUK and Nordics-oriented expekt brands.
Kristian Nylén, CEO and Co-founder of Kambi, said: “We are delighted to extend our sportsbook partnership with LeoVegas Group, a world-leading operator with a strong track record of success.
“Renewing this partnership for a second time is 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.”
The partnership comes towards the end of an active H1 for Kambi, with the firm having recently concluded its Festival of Sportsbook. On a commercial level, the company has signed several agreements over the past six months, including a number of US-facing deals with the likes of Warhorse Gaming and LMG Gaming.
Meanwhile, for LeoVegas, the partnership extension sits within its strategy of expanding its sports betting product in pursuit of a wider goal of global growth. In its full- year 2022 trading results, the firm reported a 30% year-on-year increase in sports betting revenue.
The group – acquired by MGM late last year for €575m – has been focusing primarily on European sports betting, despite its new American owner. This has included the aforementioned British business of BetUK and the Nordics’ expekt, which was relaunched in Denmark earlier this year.
Per Carlander, Director of Sports Strategy at LeoVegas Group, remarked: “Our recent successful launch of expekt in Denmark and the rapid growth of BetUK in the UK highlight our ambitious plans to expand internationally and increase our focus on sports betting and in Kambi we have a partner to enable us to do just that.
“At LeoVegas Group, we promise our customers the greatest igaming experience – and to deliver that within sports betting we need to stay innovative together with our partners. That’s why we are very pleased to extend our partnership with Kambi.”