Kambi signs online sportsbook deal in Brazil

Shares in Kambi Group gained over 4 per cent in Stockholm Thursday morning after the sportsbook technology provider announced a multi-year partnership with Brazilian gaming operator KTO Group.

The agreement will see KTO replace its existing third-party sportsbook with Kambi’s turnkey online sportsbook solution, which includes comprehensive odds coverage of Latin America’s most popular sports, as well as Kambi's Bet Builder product.

“We are thrilled to announce this exciting partnership with KTO, one of the leading sports betting operators in Brazil,” said Kambi CEO Werner Becher. “Both companies share a deep passion for delivering exceptional sports betting experiences and this collaboration will enable KTO to take its sportsbook offering to the next level.

“By leveraging Kambi’s advanced technology and expertise, KTO is well positioned to expand its foothold in Brazil as it prepares to launch what will become one of the world’s largest regulated sports betting markets.”

With Brazil set to launch its regulated sports betting market in early 2025, the agreement builds on Kambi’s strong presence in regulated markets in the region including Argentina, Colombia, Mexico and Peru.

KTO founder and chief executive Andreas Bardun said: “Partnering with Kambi is a significant milestone for KTO. Kambi’s cutting-edge technology, combined with their understanding of the sports betting industry, will allow us to elevate our product offering and provide our customers with a best-in-class experience.

“We are excited to leverage Kambi’s product and expertise as we look to grow our brand in the Brazilian market.”

Shares in Kambi Group plc (STO:KAMBI) were trading 4.12 per cent higher at SEK126.50 per share in Stockholm Thursday morning.