Fresh off a strong first quarter in 2026, Kambi Group announced a major sports betting deal in Canada.
Key Takeaways
- Kambi won a bid to power a sports betting solution in Atlantic and Western Canada.
- New deals will have Kambi soon operating its technology in nine of Canada’s 10 provinces.
- Kambi reported a nearly 5% year-over-year revenue increase in Q1.
The turnkey solutions company was selected by gaming regulators Atlantic Lottery Corporation (ALC) and British Columbia Lottery Corporation (BCLC) to fuel sports betting for seven of the country’s 10 provinces.
“Being selected to power this multi-province sportsbook solution is a strong endorsement of Kambi’s trusted technology, regulatory expertise, and proven ability to deliver at scale,” Kambi CEO Werner Becher said. “ALC and BCLC have set out a clear vision for a single, consistent sportsbook, and we are proud to support its next phase with our high-performance, compliant, and proven Turnkey Sportsbook.”
The ALC recently led a Request for Proposal to appoint a single supplier for a Canada sports betting solution to cover much of the country. Scott Eagles, the ALC’s director of sports betting, said the collaboration represents an “important step in how provincial lotteries work together” and deliver sports betting to players.
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Canadian expansion
Kambi, which works on a global stage, will play into that through a sports betting solution in numerous Canadian jurisdictions.
The technology company will provide a multi-channel sportsbook platform and framework for online and retail wagering operators in British Columbia, Saskatchewan, and Manitoba through the BCLC, and in Nova Scotia, New Brunswick, Prince Edward Island, and Newfoundland and Labrador through the ACL.
Combined with Kambi’s partnership in Ontario’s regulated gaming industry and Alberta's July launch, the Europe-based company said it will soon be powering sports betting in nine provinces.
“It's not always easy to be in the white side of a business with all the tax hits and these other things, but it also provides sustainability for a business in some ways,” Becher said. “So clearly, the strategy of Kambi being one of very, very few B2B sports betting operators, while still many are only focused on black/grey markets, our long-term strategy to fully focus on regulated markets.”
He added, “We would have no chance to win one of these deals, having still a big grey market/market footprint. So this is definitely something which is very important for us going forward that we have done our homework already.”
Quarterly success
Kambi’s first-quarter 2026 revenue of €43.5 million increased by 4.9% compared to the same quarter in 2025. Adjusted EBTIDA spiked 63.5% year over year to €5.7 million with a 13% margin.
Kambi’s operating profit margin increased from 2% to 9.7%, while year-over-year operating expenses dipped by 2.1%.
The company also mentioned a deal with Pari Mutuel Urbain (PMU) in France, positive Odds Feed+ momentum through its multi-year agreement with ComeOn Group, expanded content delivery to Hard Rock Bet, and new launches with Coolbet and LeoVegas as quarterly highlights.
“Q1 saw us post an improved financial performance with revenue growth aided by our commercial momentum alongside continued cost discipline, helping to deliver increased profitability,” Becher said. “This morning's signing of the Canadian lotteries alongside those of PMU and OLG underscores our reputation among publicly owned and run organizations and highlights the benefits of our regulated market strategy with Kambi, undoubtedly the industry's trusted sports betting partner.”
