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FDJ United draws speculation over possible Kambi acquisition

Business

A speculative betting-industry analysis linked FDJ United with a possible acquisition of Kambi after Kambi agreed a source-code deal with Allwyn. Kambi’s share price rose 20% to SEK168 and its market value reached SEK4.5bn, the analysis said.

Speculation over Kambi’s possible acquisition could reshape its commercial relationships with Allwyn, PMU and ComeOn.

End-of-day close FDJ United (FDJU), EUR, to 11 November 2026
Story date29 September 202611 November 2026

Related company prices

Latest reported results

FDJ United Euronext Paris: FDJU

Quarter ended 30 September 2026

Revenue
EUR 794.0m

Kambi Nasdaq First North Stockholm: KAMBI

Quarter ended 30 September 2026

Revenue
EUR 46.0m

Allwyn Athens: ALWN

Quarter ended 30 June 2026

Revenue
EUR 1.25bn
Operating income
EUR 141.0m

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Deals & M&A

Allwyn signs Kambi platform agreement and plans to buy IWG’s remaining 30%

Allwyn announced agreements with Kambi to develop an in-house sportsbook platform and plans to acquire the remaining 30% of Instant Win Gaming (IWG). The Kambi deal includes a global perpetual source-code licence and payments totalling €50 million over three years to 2029; Allwyn expects the approximately $120 million (€107 million) IWG acquisition to complete in the first quarter of 2027.

Allwyn has agreed with Kambi to build its own betting platform and plans to acquire the remaining 30% stake in Instant Win Gaming (IWG) for approximately $120m (€107m). The deals will give the operator more control of its betting technology and digital lottery content, making it less dependent on external suppliers.

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