Kambi and Allwyn announce a global sportsbook source code licensing deal

Kambi Group plc has entered into agreements with Allwyn AG to support the operator’s plan to consolidate its sportsbook brands on a single technology platform. The arrangement combines a perpetual global licence to Kambi’s sportsbook source code with implementation support and a separate long-term agreement for pricing and trading services.

Kambi announced the agreements on 10 November 2026. Based on its current assumptions, the company expects them to contribute approximately €45 million to €50 million to its operating profit over 2027 to 2031. The estimate is forward-looking and depends on delivery milestones and the timing of payments.

A global source code licence for Allwyn

Under the central agreement, Kambi will grant Allwyn a perpetual global licence to its sportsbook source code. The licence is intended to help Allwyn bring its sportsbook technology in-house and consolidate sports betting brands around a common platform.

Kambi will provide associated implementation services, drawing on its experience of deploying betting technology across digital and retail channels. The licensed technology has powered tier-one operators for more than 15 years, according to Kambi. It supports multi-brand and multi-regulation operations and currently serves partners in more than 100 jurisdictions worldwide.

For Allwyn, a shared platform is expected to create more flexibility in product development and allow features to be tailored to individual brands and local markets. Any such development will remain subject to the rules and requirements of the jurisdictions in which the operator does business.

Long-term pricing and trading support

The source code licence is accompanied by a separate long-term trading services agreement. Kambi will provide its proprietary pricing, trading and risk-management capabilities, which are supported by artificial intelligence.

The two agreements give the companies distinct but connected roles. Allwyn will gain access to the licensed technology and the opportunity to manage more of its sportsbook development internally. Kambi will remain involved through its trading services and says the arrangement will further strengthen its global network and liquidity pool.

Financial contribution expected between 2027 and 2031

Kambi estimates that the agreements will contribute approximately €45 million to €50 million to its operating profit between 2027 and 2031. Around 40 per cent of the expected contribution is projected to be recognised in 2027 and approximately 20 per cent in 2028.

The estimate includes an upfront payment expected in early 2027, followed by milestone payments linked to deliveries in subsequent years. Kambi has also said the implementation work will increase its operating expenses during 2027 to 2029.

As part of the project, Kambi will build and train a dedicated team. Following implementation of the source code, that team is expected to transfer to Allwyn, supporting the operator’s ability to run and develop the platform. The projected profit contribution should therefore be considered alongside the implementation schedule and the additional costs Kambi expects to incur.

The €45 million to €50 million figure represents Kambi's expected operating profit contribution from the agreements over the stated period. It is a company forecast based on current assumptions rather than a guarantee of future financial performance.

Allwyn’s strategy to bring key technology in-house

Allwyn is a multinational lottery-led gaming entertainment company with businesses across Europe and North America. Kambi’s announcement describes the group as holding long-term national lottery licences in Austria, Cyprus, the Czech Republic, Greece and the United Kingdom. Allwyn also has sports betting and iGaming operations in multiple markets and is listed on Euronext Athens as Allwyn AG.

In the UK, the Gambling Commission states that Allwyn Entertainment Limited holds the National Lottery licence for a 10-year period running from February 2024 to January 2034.

The sportsbook project forms part of Allwyn’s stated strategy to own and manage technology and content capabilities that support product innovation, differentiation and faster time to market. A common platform may help coordinate development across its brands while giving the company more flexibility to adapt products to local requirements.

Kresimir Spajic, CEO of Allwyn Digital, said: “We are delighted to announce further progress in our strategy to own and manage key technology and content capabilities that enhance product innovation, differentiation and time to market and support our ability to deliver a best-in-class customer proposition.

“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.”

Kambi highlights the value of its sportsbook technology

Werner Becher, CEO of Kambi, said the deal reflected the strategic value of the sportsbook technology the company has developed over more than 15 years. He also pointed to Allwyn’s decision to use the platform as the basis for consolidating its sportsbook operations.

Becher 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. It also brings Kambi significant long-term commercial value and shows how we can create additional value from the capabilities we have built, through strong, long-term partnerships.”

The agreement provides an example of how a technology supplier can license established intellectual property while continuing to provide selected services. Kambi expects the deal to generate long-term commercial value, while Allwyn aims to gain more direct control over a central part of its sports betting infrastructure.

Shareholder returns and continued investment

Kambi has said its capital allocation priorities remain unchanged. It intends to return the majority of net proceeds from the agreements to shareholders while retaining enough financial flexibility to continue developing its products and technology.

The approach places the expected shareholder returns alongside the company’s ongoing investment requirements. Implementation costs are expected during the 2027 to 2029 period, making the delivery of the project an important factor in the financial outcome.

Conclusion

The agreements represent a significant technology arrangement for both Kambi and Allwyn, although the strategic benefits differ for each company. Allwyn is seeking greater control over a core sportsbook capability and a shared platform to support product development across its brands. Kambi is licensing technology developed over many years while retaining a long-term role through pricing and trading services.

The projected €45 million to €50 million contribution to Kambi’s operating profit between 2027 and 2031 gives the agreement a clear financial dimension. However, that estimate remains dependent on implementation, milestone payments and the additional operating expenses expected during the transition. The planned transfer of a trained team will also be important to Allwyn’s move towards internal platform management.

The partnership’s longer-term value will depend on how effectively the technology is deployed and how well it serves Allwyn’s brands and regulated markets. For Kambi, the deal creates an opportunity to generate value from its sportsbook infrastructure beyond a conventional turnkey arrangement. For Allwyn, it is a step towards a more integrated technology model and greater responsibility for the development of its sportsbook operations.

Ultimately, the agreement highlights the growing strategic importance of technology ownership in the sports betting industry. Its success will be measured not simply by the completion of the licensing arrangement but by the ability of both companies to deliver their respective commercial and operational objectives over the coming years.

FAQs

What is the new agreement between Kambi and Allwyn?
Kambi has agreed to grant Allwyn a perpetual global licence to its sportsbook source code, provide associated implementation services and continue supplying pricing and trading services under a separate long-term agreement.

How much operating profit does Kambi expect from the agreements?
Kambi expects the agreements to contribute approximately €45 million to €50 million to its operating profit between 2027 and 2031, based on its current assumptions.

When will Kambi start recognising the financial contribution?
The company expects approximately 40 per cent of the projected contribution to be recognised in 2027 and around 20 per cent in 2028.

What does Allwyn gain from the sportsbook source code licence?
The licence is intended to give Allwyn greater control over its sportsbook technology and the ability to manage platform development and tailor products to individual brands and markets.

Will Kambi continue providing services to Allwyn?
Yes. Under a separate long-term agreement, Kambi will continue providing pricing, trading and risk-management services.

Does Kambi's sportsbook technology support multiple markets?
According to Kambi, its technology supports multi-brand and multi-regulation operations and serves partners across more than 100 jurisdictions worldwide.

What role will artificial intelligence play in the agreement?
Kambi will provide its proprietary AI-supported pricing, trading and risk-management capabilities as part of the long-term services arrangement.

Will Kambi employees transfer to Allwyn?
Kambi will build and train a dedicated team for the project. Following implementation of the source code, that team is expected to transfer to Allwyn to support the operator's ongoing platform operations and development.

Who are the executives involved in the agreement?
Werner Becher is CEO of Kambi while Kresimir Spajic is CEO of Allwyn Digital. Both executives commented on the strategic importance of the agreement.

How does Kambi plan to use the proceeds from the agreement?
Kambi intends to return the majority of the net proceeds to shareholders while retaining sufficient financial flexibility to support continued investment in its products and technology.