Kambi Group has agreed to grant Allwyn a perpetual, global licence to its sportsbook source code, as the lottery-led operator moves its sports betting brands onto a single platform that it will own and run itself.

The two companies have also signed a long-term trading services agreement, under which Kambi will provide its AI-powered trading and risk management to Allwyn. Kambi says this also strengthens its global network and liquidity pool.

What the deal is worth

  • Expected contribution: about €45-50m to Kambi’s operating profit over 2027-2031.
  • Timing: roughly 40% of that is expected in 2027 and 20% in 2028.
  • Payment structure: an upfront payment in early 2027, followed by milestone payments linked to deliveries.
  • Costs: Kambi will build and train a team that moves to Allwyn after implementation, which will add to Kambi’s operating expenses during 2027-2029.

Kambi said most of the net proceeds are intended to be returned to shareholders, while it keeps enough flexibility to keep developing its products. The company has been running share buybacks this year, including the programme reported in late October, and reported its third-quarter results earlier this month.

Why Allwyn wants the code

Allwyn, listed on Euronext Athens, holds long-term national lottery licences in Austria, Cyprus, the Czech Republic, Greece and the UK and runs sports betting and iGaming brands in several markets. Owning the sportsbook code lets it tailor products to individual brands and markets instead of relying on a supplier’s roadmap.

The licensed technology has powered tier-one operators for more than 15 years and currently serves partners in more than 100 jurisdictions, with support for multiple brands and regulatory regimes.

What they said

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.”

Kresimir Spajic, CEO of Allwyn Digital, said:

“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.”