Kambi Group is to add a player account management (PAM) platform to its wider offering through an acquisition agreement with OMEGA Systems.
Under the deal, the terms of which were undisclosed, Kambi will acquire source code for a PAM platform from OMEGA. Kambi said it selected OMEGA after a “rigorous” request for proposal processes.
At first, Kambi will focus on the Nevada sports betting market, where it secured licensure earlier in 2025. It has already started commercial discussions with prospective partners in the state and will now submit the platform for licensing.
Kambi also made reference to existing integrations between its sportsbook and the OMEGA platform, which is already being used by several partners and is connected to the Kambi front-end. As such, the provider expects only “minimal” resource requirements to bring it to market in Nevada, with the aim of it being product-ready in Nevada by the end of H1 2026.
Kambi to unlock commercial opportunities
Outside Nevada, Kambi said the acquisition would potentially open up opportunities in other jurisdictions where third-party PAM options are limited. This viewpoint was reflected by Kambi CEO Werner Becher in his comments on the deal.
“Kambi is already the trusted home of premium sports betting solutions, and this acquisition reinforces that leadership position,” Becher said. “While we remain platform-agnostic, the addition of an in-house PAM solution to our turnkey sportsbook ensures we can unlock commercial opportunities in Nevada and potentially in other jurisdictions as they arise.”
Jim Godsell, founder and CEO of OMEGA, said the deal would see Kambi “take control” of its PAM solution.
“Over the years, OMEGA and Kambi have provided combined solutions to operators in multiple jurisdictions,” Godsell said. “This acquisition allows Kambi to build on the OMEGA PAM architecture and enter new markets quickly.
“As is the case with other OMEGA licensees, Kambi is “Taking Control” of its PAM solution.”
Revenue and net profit down in Q3
In other news, Kambi published its results for the third quarter, revealing a decline in both revenue and net profit.
Revenue for the three months to 30 September reached €37.4 million ($42.9 million), down 13.1%. Kambi said while new partner launches had a positive impact, it was hit by a quieter sporting calendar, deposit limits in the Netherlands, increased taxes in several jurisdictions – such as in the Netherlands – and new commercial terms of certain renewed contracts.
“Since the start of Q3, Kambi has signed seven turnkey sportsbook partners, three Odds Feed+ deals and two partner renewals – a clear reflection of the commercial progress we are making,” Becher said
“Our Q3 financial performance was disciplined in a period impacted by a quieter sporting calendar, which last year included the Euros, Copa América and the Olympics, and the ongoing increased impact of gaming-related taxes.”
Operator turnover in the quarter decreased by 6% year-on-year, with performances mixed across Kambi’s active markets. Operator turnover in Americas climbed 8.9%, helped by going live in the newly regulated Brazil market. However, turnover in Europe dropped by 21.8%, again on the back of higher taxes and fewer sporting events.
In terms of costs, spending was lower on the whole, but reduced revenue meant operating profit slipped 54.6% to €1.6 million. Pre-tax profit was also down 50.9% to €1.8 million.
Kambi paid €820,000 in tax, leaving €1 million in net profit, a drop of 61.5%. In addition, adjusted EBITDA dropped 14.1% to €11.6 million.
Kambi heading for full-year decline?
As for the year-to-date, revenue in the nine months to the end of September sat 9.6% lower at €119.3 million. Gross profit was also down 11.8% to €104.3 million and operating profit 71.8% to €4 million on the back of this.
Pre-tax profit declined 70.1% to €4.3 million while after €2.3 million in tax, net profit hit €2.1 million, a drop of 79.8%. Adjusted EBITDA for the period was also 19.7% lower at €35.1 million.
However, despite the declines, Becher was upbeat on future prospects, including the new opportunities with the PAM.
“With the busy sporting calendar upon us, we continue to focus on delivering an unbeatable product and service to our partners while building the foundations for long-term growth,” he said. “The recent commercial wins, ongoing improvements to our market-leading product, the opportunities that the PAM will create, as well as the continued progress of our efficiency programme are, together, evidence of the positive momentum we are building.
“When coupled with the exciting opportunities we continue to pursue, I have growing confidence we will deliver sustainable growth and long-term returns for our shareholders.”
Kambi will initially focus on Nevada with its new PAM offering, although it said the deal could open opportunities in other markets.