According to a number of reports, Kambi is currently subject to a takeover by Genius Sports – but these claims have been denied by both Kambi and Genius.
The reports claim that Genius has made an approach to Kambi in an effort to “expand its own managed trading offering.”
Kambi has responded to the speculation regarding the future of the company, denying that any such negotiations are currently taking place.
Kambi Chair of the Board Anders Ström released a short statement with regards to the acquisition rumours, saying: “While Kambi tends not to comment on rumour and speculation, I can confirm that Kambi is not engaged in any such discussions."
The Swedish-based sports betting supplier’s share price seemingly reacted well to the news, being valued at 131.50 SEK ($12.74) (4 September 11:51), representing a 14.8% rise from the closing price on 3 September of 114.50 SEK.
Genius Sports has also addressed the speculation, with CEO Mark Locke stating: "As policy, we do not comment on unfounded and ill-informed rumours. To prevent any further speculation, we can confirm that we are not involved in any discussions of this nature with Kambi."
The news comes only two months after Kambi Group’s Board of Directors made the decision to nullify its previously stated 2027 financial targets; following underperformance related to regulation in key global markets.
Should this deal proceed, it would be similar to another recent one where Betsson Group acquired a number of verticals from FDJ Group’s Sporting Solutions, with the operator looking to enhance its B2C and B2B sportsbook offerings.
