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NEWS 10 January 2018

Kambi announces Q4 update amidst contract extension deal

By Caroline Watson
In announcing its Q4 financial results for 2017, Kambi generated a trading margin of 9.7% due to some unusually high numbers of favourable sporting results.

The results massively exceeded expectations, with the average long-term trading margin expected between 6.5% and 7%.

Despite the good news, the results consequently place some pressure on operator turnover growth. Kambi are now predicts revenue for the fourth quarter to be in the range of €18.8 to €19.2m.

Nonetheless, Kambi’s full-year results will be published mid-February.

2018 has started off on a good note for the sports betting services provider after it announced it had signed a multi-year contract extension with Napoleon Games.

This deal marks the second between the two companies following an initial agreement back in 2012.

The deal ensures Napoleon will continue to benefit from Kambi’s full suite of online and retail products, including its price differentiation tool, real-time bonusing features, and Instant Betting offer.

Kambi’s Chief Executive Officer, Kristian Nylén commented: “We are delighted to have agreed yet another customer contract extension, this time with Napoleon Games.

“Following agreements with 888, LeoVegas and Paf, Kambi has strengthened relationships with four key customers in a short period, which not only underlines the quality and flexibility of the Kambi Sportsbook but also secures important sources of revenues for years to come.

“When coupled with the four new customers signed in 2017, Kambi enters 2018 with real momentum and I am very excited for what the year has in store.”
RELATED TAGS: Industry | Sports Betting | Legal & Regulatory | Financial
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