Kambi Wins 7-Province Canada Sportsbook Deal as Q1 Revenue Grows

Kambi Group has secured a landmark sportsbook contract with Atlantic Lottery Corporation (ALC) and British Columbia Lottery Corporation (BCLC), covering seven of Canada's ten provinces. The announcement came alongside the company's first-quarter 2026 financial results. The deal followed a joint request for proposal led by ALC to appoint a single national supplier. Kambi will deliver its multi-channel turnkey sportsbook technology across both digital and retail channels. Kambi Group shares rose sharply on the Stockholm Stock Exchange following the news.

A Deal Covering Seven Canadian Provinces

Under the agreement, Kambi will power sportsbooks across a broad stretch of Canada. Through BCLC, coverage extends to British Columbia, Saskatchewan, and Manitoba. Through ALC, it covers Nova Scotia, New Brunswick, Prince Edward Island, and Newfoundland and Labrador. Combined with an existing Ontario partnership and a planned Alberta launch in July, Kambi said it will soon power sports betting in nine Canadian 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," said Kambi CEO Werner Becher. "We look forward to delivering a world-class sports betting experience for players across multiple Canadian provinces."

ALC Director of Sports Betting Scott Eagles welcomed the partnership. "This collaboration represents an important step forward in how provincial lotteries work together to deliver a consistent, high-quality sports betting experience for players, while maintaining strong governance within each jurisdiction. Through this collective approach, we are focused on prioritizing trust, integrity, and player protection."

Kambi is on track to power sports betting in nine Canadian provinces by late 2026, combining new deals in seven provinces through ALC and BCLC with an existing Ontario partnership and a planned Alberta launch in July.

Strong Q1 2026 Financial Results

Kambi's Q1 2026 revenue reached €43.5 million, a 4.9% year-on-year increase. Adjusted EBITA rose 63.5% to €5.7 million, at a 13% margin. Operating profit came in at €4.2 million, at a 9.7% margin. Operating expenses fell 2.1% to €31.9 million. Earnings per share for the quarter were €0.086.

Other Q1 highlights included a long-term deal with PMU in France, a multi-year agreement with ComeOn Group, expanded content delivery to Hard Rock Bet, and new launches with Coolbet and LeoVegas.

AI Trading and the Regulated Markets Strategy

Kambi's fully automated AI trading system priced and traded more than 60% of bets across its network in Q1. The system has expanded beyond football into tennis, ice hockey, and basketball, with more sports to come.

Becher highlighted the company's focus on regulated markets as a strategic advantage. "We would have no chance to win one of these deals, having still a big gray market footprint," he said. "This is definitely something which is very important for us going forward."

The company flagged a €4 million revenue impact in 2026 from a new 16% gross gaming revenue tax in Colombia. Despite this, Kambi maintained its full-year adjusted EBITA guidance of between €20 million and €25 million. Kambi will present its second-quarter results on July 22, 2026.