Kambi

Kambi was established in 2010 as a separate operating subsidiary of Unibet Group, built to sell Unibet's sports betting technology to third-party operators. Unibet shareholders approved the spin-off of 95 per cent of Kambi Sports Solutions on 19 May 2014; the transaction, valued at about EUR 90.1 million, completed on 31 May 2014 and Kambi shares began trading on Nasdaq First North in Stockholm on 2 June 2014. Unibet Group later renamed itself Kindred Group and remained a Kambi customer. Kambi acquired esports data and odds supplier Abios in August 2021 for up to GBP 22 million and Copenhagen-based front-end company Shape Games in September 2022 for EUR 38.5 million, and incubated an in-house AI pricing division named Tzeract. Co-founder Kristian Nylen stepped down as CEO in 2024 and was succeeded by Werner Becher, previously of Sportradar. Group revenue was EUR 162 million in 2025, down 8.2 per cent on EUR 176.4 million in 2024. On the claimed 'Kambi/Kaizen split': sources do not support it. Kambi did not divide itself into a Sportsbook unit and a Kaizen unit. What actually happened is a licence-entity transfer in Spain — in July 2026 the Spanish regulator DGOJ approved the corporate re-registration of Kambi's Spanish licence holder, Kambi Sportsbook PLC, as Kaizen Gaming XYZ PLC, moving a Spanish general betting licence (fixed-odds sports betting, other counterpart betting and gambling advertising authorisation) to Kaizen Gaming ahead of its Betano launch in Spain. Kaizen Gaming is a separate, unrelated Greek-founded B2C operator (Stoiximan, Betano) headquartered in Malta and founded in 2012; it is a licence buyer here, not a Kambi successor entity. Separately, Kambi denied September 2024 press speculation about an acquisition by Genius Sports, and remains independently listed; it started a share buyback programme on 22 June 2026.