LeoVegas Extends Kambi Partnership Through 2027

Kambi Group and LeoVegas have extended their longstanding sportsbook partnership through the end of 2027, signaling a continued collaboration even as LeoVegas advances its plans to migrate to a proprietary in-house platform. The move, announced Tuesday, has sparked fresh industry speculation about the pace and scope of LeoVegas’s strategic platform shift—particularly in light of its 2023 acquisition of Tipico’s U.S. sportsbook technology.

Dual-Track Strategy or Delayed Migration?

While the renewal ensures business continuity, it appears to conflict with earlier projections from MGM Resorts International, LeoVegas’s parent company. In February, MGM CEO Bill Hornbuckle told investors that LeoVegas’s proprietary sportsbook would debut in its “core markets” by the end of H1 2025. That timeline now appears in flux.

LeoVegas maintains that the Tipico integration remains “on schedule,” positioning the Kambi renewal as a pragmatic step during the transition. “The extension with Kambi is a natural part of our strategy to ensure business continuity,” a LeoVegas spokesperson said. The updated agreement also includes extended access to Kambi’s Odds Feed+ product beyond 2027, suggesting ongoing reliance on external data services even after the full in-house migration.

A Win for Kambi Amid Shifting Market Dynamics

For Kambi, the LeoVegas extension offers short-term stability in a market increasingly characterized by operator-driven vertical integration. Kambi has faced attrition from key clients—most notably Penn Entertainment, which migrated to its own platform in 2023. The company reported year-on-year declines in Q1 revenue and net profit, prompting a strategic pivot toward modular products and diversified client relationships.

“This deal speaks to the quality of our trading capabilities,” said Kambi CEO Werner Becher. “LeoVegas securing access to Odds Feed+ takes our partnership into a new phase.”

Analysts at ABG Sundal Collier noted that LeoVegas represented approximately 3% of Kambi’s revenue in 2023 but was expected to grow with MGM’s international sportsbook ambitions. While this new agreement delays any immediate revenue loss, the long-term earnings outlook for Kambi may soften post-2027.

Implications for U.S. and Nevada iGaming

Although the LeoVegas-Kambi relationship is largely international in scope, the implications ripple into the U.S. market—especially Nevada, the spiritual home of American sports betting. MGM operates BetMGM in a joint venture with Entain, with a separate technology stack from LeoVegas. As such, the proprietary platform being developed for LeoVegas will not replace Kambi within the U.S. BetMGM ecosystem.

However, MGM’s continued push for technological independence across its brands underscores a broader trend reshaping the American iGaming landscape: the decoupling of operators from third-party suppliers. This move is particularly relevant in Nevada, where mobile betting remains tightly regulated and platform control is crucial for licensing and compliance.

Kambi’s adaptation strategy—including the development of modular products like BetBuilder and Odds Feed+—positions it to remain competitive in this evolving environment. As U.S. operators seek more tailored and localized sportsbook solutions, Kambi’s pivot may prove essential for survival.

Speaking to iGaming Business, Kambi SVP of Commercial Operations Jamie Mckittrick acknowledged the shift: “While our turnkey sportsbook remains our core offering, we have adapted to market changes by expanding our portfolio… to deliver premium solutions tailored to operators of varying sizes, geographic footprints and strategies.” This flexibility could be especially attractive to operators in tightly regulated states like Nevada, where licensing complexities make proprietary systems both a challenge and a strategic asset.

 

The extension with Kambi is a natural part of our strategy to ensure business continuity while our proprietary Tier 1 sportsbook integration stays on track.

Conclusion

The LeoVegas-Kambi extension reflects a transitional phase in global sportsbook operations, where continuity and innovation must coexist. While MGM and LeoVegas push toward technological self-reliance, the extended reliance on Kambi underscores the operational and regulatory complexities of such migrations—particularly when crossing international boundaries.

In the broader context of U.S. and Nevada iGaming, the deal exemplifies the tension between vertical integration and strategic partnerships—a dynamic likely to shape the industry for years to come.