Kambi Reports Strong Q1 Results, Secures Canadian Lottery Deal

(AsiaGameHub) –   Kambi Group announced increased revenue and enhanced profitability for the first quarter of 2026, subsequently securing a significant sports betting agreement in Canada that covers a large portion of the nation.

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Good to Know

• Kambi revenue increased by 4.9% year-over-year to €43.5 million in Q1 2026.
• Adjusted EBITDA surged 63.5% to €5.7 million, achieving a 13% margin.
• ALC and BCLC have chosen Kambi to provide sports betting support across seven Canadian provinces.

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Profit Growth Comes First For Kambi

Kambi began 2026 with a more efficient cost structure and improved margins. First-quarter revenue hit €43.5 million, a 4.9% increase compared to the prior-year period, while adjusted EBITDA grew 63.5% to €5.7 million.

The operating profit margin also saw significant improvement, rising from 2% to 9.7%. Concurrently, operating expenses decreased by 2.1% year-over-year, providing the sports betting supplier with a more robust foundation for future business agreements.

The company also highlighted several commercial successes in the quarter. These encompassed a partnership with Pari Mutuel Urbain in France, expanded adoption of Odds Feed+ via the ComeOn Group, broader content distribution for Hard Rock Bet, and new platform launches with Coolbet and LeoVegas.

Kambi CEO Werner Becher stated:

“The first quarter demonstrated an improved financial performance, with revenue growth supported by our commercial progress and ongoing cost management, leading to greater profitability.

“Today’s signing with the Canadian lotteries, along with our agreements with PMU and OLG, reinforces our standing with government-owned entities and emphasizes the advantages of our regulated market strategy, solidifying Kambi as the industry’s trusted sports betting partner.”

Canada Deal Covers Seven Provinces

Kambi subsequently achieved one of its most substantial regulated market victories in Canada. The Atlantic Lottery Corporation and British Columbia Lottery Corporation have selected the company to deliver a unified sportsbook solution for seven of Canada’s ten provinces.

The arrangement includes online and retail betting in British Columbia, Saskatchewan, and Manitoba via BCLC. It also extends to Nova Scotia, New Brunswick, Prince Edward Island, and Newfoundland and Labrador through ALC.

ALC recently conducted a Request for Proposal (RFP) to select a single supplier for the joint Canadian sportsbook initiative. Scott Eagles, ALC’s director of sports betting, described the partnership as an “important step in how provincial lotteries work together” to offer sports betting to customers.

Becher commented:

“Our selection to operate this multi-province sportsbook is a powerful validation of Kambi’s reliable technology, regulatory knowledge, and demonstrated capacity for large-scale delivery.

“ALC and BCLC have a defined vision for a unified, consistent sportsbook, and we are honored to support its next stage with our high-performance, compliant, and established Turnkey Sportsbook.”

Kambi is already active in Ontario and anticipates adding Alberta in July. Upon the launch of the new lottery agreement, the Europe-based supplier stated it will be powering sports betting in nine Canadian provinces.

Becher also connected this achievement to the company’s strategic focus on regulated betting markets. He remarked:

“Operating solely in the legitimate sector, with its associated tax burdens and challenges, is not always simple, but it does offer business sustainability in certain respects.

“Therefore, Kambi’s strategy of being one of the very few B2B sports betting operators focused on regulated markets, while many others concentrate on black/grey markets, is our long-term plan.

“We would stand no chance of winning such contracts if we maintained a significant presence in grey markets. This underscores the critical importance of our prior preparations for our future direction.”