Canadian lottery deals one of Kambi’s ‘main highlights’ from early 2026
Canadian lottery deals one of Kambi’s ‘main highlights’ from early 2026
Swedish sportsbook firm Kambi expects its deals with Canadian lottery companies to be a major pillar of its revenue in 2026.
The company provided investors and analysts with an outlook for the rest of the year in a call yesterday, following publication of its Q1 results.
As well as updating the market on its Q1 financial performance, Kambi also announced a mulit-pprovincial deal with the Atlantic Lottery Corporation (ALC) and British Columia Lottery Corporation (BCLC).
“We were announced as the winning bidder and signed a contract for the Canadian national sports betting solution, which will see us add another seven provinces to our recent partnership with the Ontario Lottery, giving us a strong position in Canada,” said Werner Becher, Kambi Chief Executive Officer, in its Q1 earnings call.
As Becher mentioned, Kambi already has a background in the Canadian lottery space – though it is a relatively new background. The firm took over the contract as supplier of sports betting solutions to the Ontario Lottery and Gaming Corporation (OLG) in January this year.
It is no stranger to working with lotteries, however. Back in 2020 it penned a deal with the Belgian National Lottery, and in June 2021 it assisted the state-owned operator in relaunching its Scooore sportsbook.
Can Canada save Kambi from European difficulties?
Five years down the line, lotteries are going to be an even more significant part of Kambi’s business, particularly Canadian ones.
This couldn’t come at a more ideal time for the company, as its homeland markets in Europe go through a significant transition period, largely due to tax increases across key markets like the UK, France, Germany and the Netherlands.
According to Becher, the Ontario deal has already had an impact on Kambi’s performance.
He told analysts that a slight decrease in operator turnover from Q4 to Q1, due to there being a full quarter of National Football league (NFL) fixtures during the former and only a partial one in the latter, was ‘partially offset by the launch of our new customer, Ontario Lottery and Gaming’.
The CEO went on to describe the Ontario deal as “a significant delivery for us and one which has started very well,” and the wider network of partnerships it has secured with Canadian lotteries as being one of the two ‘main highlights’ of Q1 – the other being a deal with French firm Pari Mutuel Urban (PMU).
“Coupled with the recent signing of PMU, this underlines our growing reputation among publicly owned and backed organisations, those that place quality and integrity on top of their agenda,” he said.
“More broadly, it’s clear we are the number one choice for operators in regulated markets, which is the result of our long term regulated market strategy.”
All in all, Kambi closed Q1 with revenue growth of 4.9% from €41.5m to €43.5m (£40m), while adjusted EBITDA increased 63.5% from a loss of €3.5m to a gain of €5.7m.
The company’s share price on the Stockholm Nasdaq has since performed well, rising from SEK 128 at the end of trading on Tuesday to 160 SEK (£12.70) as of the writing of this article on 30 April.
https://lotterydaily.com/2026/04/30/highlighted/kambi-canadian-lottery-deals/