Kambi agrees long-term LiveScore sportsbook deal

Kambi Group has signed a long-term agreement to provide its sportsbook platform to sports media and betting operator LiveScore Group.

Following a competitive selection process, Kambi’s sportsbook platform will power the LiveScore Bet and Virgin Bet brands globally.

The operator’s in-house product teams will also utilise Kambi’s open APIs, as well as leverage Kambi’s incentives tools and bespoke bet offer specials to create a unique user experience for its user base.

“With well-established sportsbook brands in several markets, an immensely popular media platform that acts as an effective acquisition channel, and an experienced leadership team, LiveScore Group has all the ingredients Kambi looks for in an operator,” said Kambi CEO and co-founder Kristian Nylén.

“In partnering with Kambi and integrating our sportsbook, LiveScore Group will have the quality and trusted sportsbook it requires to fulfil its ambitious growth plans and we’re delighted to be supporting them on that journey.”

Formed in 2019 following a spin-off from Gamesys Group, LiveScore’s sportsbook brands are currently active in several markets, including a strong presence in the UK, with the Kambi deal including the group’s subsidiaries in Gibraltar, Malta and Nigeria.

The operator has plans to expand the LiveScore Bet brand further in partnership with Kambi, as it replaces its existing third-party sportsbook technology.

The new Kambi-powered sportsbook is expected to be rolled out across multiple markets from Q1 2024.

“We are thrilled to join forces with Kambi, the premier independent sportsbook provider, as we look to accelerate our growth in the global sports betting market,” said LiveScore Group CEO Sam Sadi. “By combining the strengths of Kambi’s technology with LiveScore Group’s world-class sports betting brands, media assets and in-house product teams, I believe we are ideally equipped to create truly memorable experiences for our users.”

The agreement between Kambi and LiveScore is expected to contribute material revenue for Kambi from the second half of 2024.

Shares in Kambi Group plc (STO:KAMBI) gained 4.67 per cent on the news to SEK163.50 per share in Stockholm Monday.