The Board of Kambi Group Plc has initiated a share repurchase programme following the mandate approved by investors of the Stockholm-listed sports betting technology group at the Extraordinary General Meeting (EGM) on 19 June 2023. Initiated on the morning of the announcement, the buyback programme will run until 21 May 2024, allowing investors to repurchase Kambi Group plc shares up …
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Svenska Spel pledges SEK 35m for youth access to sports
Svenska Spel is distributing SEK 35 million to youth sports this year through its Gräsroten initiative. Shared between 8,654 different associations, the money goes to, among other things, the purchase of new equipment and leadership training, while for some associations it means an opportunity to carry out projects on important issues. The Gräsroten initiative was launched 11 years ago and, …
Read More »Kristian Nylen, Kambi: AI the next step as betting driven forward by tech
Artificial Intelligence is the next major growth driver in the betting space according to Kambi’s CEO Kristian Nylen following the group’s Q3 earnings presentation, and is an area the company intends to take strides in. As well as announcing its achievement of significant financial targets, such as a 15% increase in revenue to €42m, Kambi today revealed a new name …
Read More »Kambi rebalances network in Q3 as new deals brighten future prospects
Kambi Group Plc has reaffirmed its long-term commercial prospects following strong Q3 trading in which it has secured transformative agreements with Svenska Spel and LiveScore Group. Publishing its Q3 2023 trading update, the Stockholm-listed sports betting technology group achieved corporate revenues of €42m, up 15% on Q3 2022 comparatives of €37m. Headline growth was achieved despite Kambi registering a lower …
Read More »Patrik Hofbauer to step down from Svenska Spel leadership
Patrik Hofbauer will end his five-year tenure as President and CEO of Sweden’s state-backed betting and lottery corporation, Svenska Spel, in the new year. Having first assumed the leadership position at the operator in 2018 after an extensive career in media and communications, Hofbauer has overseen the group’s activities during a transformative few years for the Swedish gaming market. Hofbauer’s …
Read More »Lottery giants rethink the POS experience
Recognised as the most stable and ever-present business segment in global gambling, 2023 has seen the lottery sector undergo a tectonic shift in its competitive makeup. A playfield reserved for giants has evolved. Across European markets, lottery operators have emerged from a period of profound reflection, prompted by changing consumer demands after two years of pandemic-induced adjustments. Consequently, new perspectives …
Read More »Svenska Spel widens reach and impact of Elite Sports Scholarships
Svenska Spel has announced that it will sponsor “50 Swedish athletes from 40 different sports” continuing its ‘Elite Sports Scholarship’ programme in partnership with Riksidrottsförbundets, Sweden’s Sports Confederation. The flagship sports directive of Sweden’s state-owned gambling and lotteries monopoly received applications of 353 athletes from 36 different Swedish sports federations to join its 2023/2024 programme. Scholarship recipients will receive SEK …
Read More »Kambi wins Svenska Spel ‘sportsbook diversification’ tender
Kambi Group Plc has won an exclusive commercial tender to enhance and diversify the end-to-end sportsbook capabilities of Svenska Spel. Announced as a ‘major coup’ for the Stockholm-listed technology group, Kambi will power ‘Svenska Spel Oddset’, the flagship sportsbook brand of Sweden’s state-owned gambling and lotteries group. Svenska Spel has enlisted Kambi to supply all sportsbook-related provisions to deliver a …
Read More »Spelinspektionen submits 2024 lottery reforms to EC
Spelinspektionen, Sweden’s Gambling Inspectorate, has submitted its proposed commercial and technical rule changes on state lotteries and lotteries for charitable purposes to the European Commission (EC). The changes, filed as “The Lottery Inspectorate’s general advice on state lotteries and lotteries for charitable purposes,” will necessitate updates to Sweden’s Gambling Act and a subsequent review by the EC’s Chamber of Commerce. …
Read More »Spelinspektionen reveals YoY drops for Swedish gambling
Sweden’s betting sector took a hit during the second quarter against 2022 comparatives according to the latest figures from the Spelinspektionen, the country’s Gambling Inspectorate. Total Swedish industry revenue for the quarter stood at SEK 6.7bn (€562m), down around 1% on corresponding Q2 2022 results of SEK 6.77bn (€568m). This left year-to-date revenue also down by around 0.5% from SEK …
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