Kambi extends LeoVegas sportsbook deal

Stockholm-listed sportsbook technology provider Kambi Group has agreed a multi-year extension to its sportsbook partnership with MGM Resorts-owned LeoVegas.

Kambi will continue to provide LeoVegas with its sportsbook technology and services, including its AI-powered trading and Bet Builder product.

The agreement is the second renewal to a successful partnership first signed in 2016, during which time the operator has launched Kambi-powered sports betting brands such as BetUK and expekt, as well as LeoVegas.

“We are delighted to extend our sportsbook partnership with LeoVegas Group, a world-leading operator with a strong track record of success,” said Kambi CEO and co-founder Kristian Nylén. “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.”

LeoVegas director of sports strategy Per Carlander said: “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.”

Shares in Kambi Group plc (STO:KAMBI) were trading at SEK198.80 per share in Stockholm earlier Monday, while shares in MGM Resorts International (NYSE:MGM) closed 2.47 per cent lower at $42.64 in New York Friday.