Kambi Group Refutes Rumors of Genius Sports Merger Talks

Kambi Group Plc Chairman Anders Ström has refuted reports of a potential merger with Genius Sports, stating: “While Kambi tends not to comment on rumours and speculation, I can confirm that Kambi is not engaged in any such discussions.”

At the time, Kambi’s stock surged 14% to 131 Swedish crowns (approximately €12) amid rumors of a merger with Genius Sports.

Genius Sports CEO Mark Locke also denied the rumors, adding: “To prevent any further speculation, we can confirm that we are not involved in any discussions of this nature with Kambi.”

Kambi is currently undergoing a transitional phase in the second half of the year, following the exit of longtime CEO Christian Nylén, who served for 14 years, and the appointment of Werner Becher as the new CEO.

Before the leadership change, Kambi’s board withdrew its 2027 long-term goals, which aimed to double revenue to €330 million and achieve an EBIT exceeding €150 million.

The company is shifting its focus toward expanding key technology partnerships with major betting platforms like Bally’s, Svenska Spel, LiveScore Group, and LeoVegas.

In late 2023, founder and largest shareholder Anders Ström resumed his role as Kambi’s chairman, emphasizing that the company was significantly undervalued despite its established reputation as a leading sports betting technology provider in global markets.

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