Under the deal, Kambi will use its Complete sports betting product to power Svenska Spel’s online and retail sportsbooks. Kambi subsidiary Shape Games will also power the front end of the operator’s new sportsbook.
Kambi says it expects the new agreement to have a meaningful financial impact from the second half of 2024.
Founded in 1997, state-owned Svenska Spel has both an online presence and runs a network of approximately 5,000 retail outlets. Svenska Spel selected Kambi as its new sports betting partner after the tender process.
“It has been an extensive process,” Svenska Spel’s head of product for sports betting, Dan Korhonen, said. “We have evaluated a number of different alternatives and we feel we have found the perfect partner in Kambi.
“This partnership will further strengthen our offering. We look forward to launching our new Oddset sportsbook next year where focus will be on accommodating our customers on a new level.”
Kambi co-founder and CEO Kristian Nylén added: “Svenska Spel is widely recognised as one of Sweden’s most prestigious brands. Given Kambi’s strong Swedish roots, I am proud that we have been selected as the operator’s long-term sportsbook provider.
“As we continue to build commercial momentum and execute our long-term strategy, this partnership is a significant milestone for the business and will enable Kambi to further strengthen its position in one of our core markets.”
Increasing focus on Sweden for Kambi
The Svenska Spel partnership comes after Kambi last week penned a similar deal with AB Trav och Galopp (ATG).
Under the deal, which extends a relationship that began in 2018, Kambi will provide ATG with its Complete sportsbook. This covers sport betting across online and ATG’s retail network of nearly 1,500 outlets in Sweden.
Both agreements were possible after Kambi recently secured new approvals in the Swedish market. The provider picked up its B2B gambling permits in June in line with new regulations in the country that require suppliers to hold a B2B licence.
The ATG deal also marked the seventh partnership renewal for Kambi this year. The group recently penned extensions with Corredor Empresarial, LeoVegas, Paf, Rank Group, Rush Street Interactive and Sun International.
It was also revealed last month that Kambi will support BetMGM with its venture into the UK market.