Kambi posts 28% revenue rise for 2020 after “record” Q4
Kambi has seen its revenue rise by 28% year-on-year for full-year 2020, reaching €117.7m ($142.6m) for the period.
The sports betting supplier also saw its operating profit significantly rise by 119% compared to 2019, up to €32.2m, while profit after tax saw a 130% improvement at €24.1m for 2020.
While for Q4 2020, group revenue was up 76% to €46.9m, with operating profit soaring 260% up to €22.2m. Profit after tax rose 275% to €17.3m and operator turnover was up 77%.
The supplier described its “record quarterly performance” as being attributed to a busy sporting calendar, which was in full flow in Q4, as the major European football leagues made up for the delayed start to the 2020/21 season by fitting more matches in mid-week.
This resulted in its highest ever operator turnover growth being reported in September, with the supplier mentioning how the suspension of live sport hurt its Q1 and Q2 results, with revenue down 32% for the second quarter.
During Q4, Kambi signed partnerships with Rush Street Interactive and DraftKings to support online launches in Iowa and Tennessee respectively, while agreeing deals with the Belgian National Lottery and JVH Gaming and Entertainment in the Netherlands.
Kambi CEO Kristian Nylén said: “In summary, it’s been a year that’s shown that when working together, we can find the right responses to the toughest of challenges.
“The Kambi model is based on partnership, on sharing, on working together with our partners to ensure they have the best chance of success. The model was undoubtedly stress-tested in 2020 but it passed with flying colours, leaving me more excited than ever about Kambi’s future.”
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