Published
FinancialSports Betting

Kambi Q2 revenue down 19% year-on-year

Kambi Group has reported revenue of €34.7m ($35.2m) for the second quarter of 2022, a 19% decline from the second quarter of 2021.

q2 kambi

EBITDA declined by 47% year-on-year to €11.6m, while operating profit for the period declined by 70% to €4.9m, at a margin of 14%. Earnings per share for the second quarter of 2022 were €0.109, while cash flow for the period amounted to €0.1m.

Kambi noted many highlights for Q2 2022, including an online agreement with Mohegan Gaming & Entertainment and its Fallsview Casino brand in Ontario, Canada, an extended deal with Greenwood Gaming and Entertainment, and going live on day one in Canada and launches in the United States and Mexico among other milestones.

“In Q2, Kambi delivered another positive quarter with underlying growth remaining healthy and operator turnover up 16% when adjusting for the migration of DraftKings,” said Kambi CEO Kristian Nylén.

“This performance was achieved despite a quieter than usual sporting calendar, particularly with the soccer World Cup taking place later in the year, outside its usual Q2 starting slot. We also signed a partnership with Mohegan Gaming & Entertainment, launched in Canada and Mexico, and announced an extension to our contract with US multi-state operator BetParx, all while making significant strategic progress.”

Nylén added: “This is an exciting time for Kambi. The product journey we are on today along with our healthy balance sheet and positive underlying financial performance means we are on a strong footing for the future. 

“We were delighted to see Kindred relaunch in the Netherlands recently and with more product launches, partner signings and a World Cup to come, I look forward to an even greater second half of the year.”

Premium+ Connections
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
 
Premium
 
Premium
 
Premium Connections
Consultancy
Executive Profiles
Seminole Hard Rock Support Services
Metropolitan Gaming
Holland Casino
Nederlandse Loterij
Relax Gaming
Follow Us

Facing Facts: Q1 2024 analysis from across the globe

Gambling Insider tracks the Q1 results of operators across t...

Taking Stock: A guide to sports betting operator and supplier prices

Gambling Insider tracks sports betting operator and supplier...

Tailor-made: The power of personalisation in the modern gaming industry

With insights from GR8 Tech, Greentube and the Oregon Lotter...

Sportradar and the Taiwan Sports Lottery: More offerings, greater efficiency

Danny Fok, VP of Strategic Projects at Sportradar, speaks al...