Kambi shares surge 17.4% on first-ever source code licence deal

Allwyn, which bought 62.3% of PrizePicks for $1.53bn in January, is folding the platform into its own tech.

The hit

Kambi shares closed 17.4% higher at 168.80 Swedish kronor on Tuesday after the sportsbook technology provider signed its first-ever source code licensing deal, according to Legal Sports Report. The agreement hands Allwyn, which owns a majority stake in PrizePicks, a perpetual licence to Kambi’s platform as it consolidates its sports betting operations.

Why it matters

The deal marks Kambi monetising its underlying code rather than just supplying tech & services to operators, a shift from its usual business model. For Allwyn, it means bringing sportsbook infrastructure in-house, letting it tailor products by market & cut costs running multiple brands on one platform. Kambi expects the deal to lift operating expenses in the short term but return most net proceeds to shareholders.

The record

Kambi share price	168.80 Swedish kronor, up 17.4% (Legal Sports Report)
Expected operating profit contribution	€45m-€50m ($50.2m-$55.8m) between 2027 & 2031 (Kambi)
Allwyn’s expected cost of the agreements	€50m ($55.8m) through 2029, about half in 2027 (Allwyn)
Allwyn’s 2025 sports betting revenue	more than €800m ($892.9m) (Allwyn)
Allwyn’s PrizePicks stake acquisition	$1.53bn for 62.3% stake, January 2026 (Legal Sports Report)

What happens next

Watch for roughly 40% of the deal’s value to be recognised through an upfront payment in 2027, with another 20% tied to milestone payments in 2028.

Sources: Kambi Stock Surges On Sportsbook Source Code Deal With PrizePicks Parent – Legal Sports Report

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