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NEWS 25 April 2018

Kambi Group Q1 operating profits up 42%

By Harrison Sayers

Kambi Group has achieved a year-on-year revenue growth of 15% and an operating profit increase of 42% according to the company’s latest Q1 report.

The Swedish sports betting providers operating profit (EBIT) totalled $2.44m compared to $1.71m in Q1 2017. This represented an impressive growth of 42% year-on-year.

Between January and March, Kambi received $20m in revenue compared to the $17.32m generated in the previous year. This growth of 15% is higher than its revenue growth rate for the financial year 2017 at 11%.

Profits after tax amounted to $1.83m,  an increase of 36% from $1.34m in the same period in 2017. 

During this period Kambi also acquired a stake of just over 25% in Virtus Sports, one of the company’s virtual sports developers and suppliers for $694,000.

Having also signed Casumo in March and a multi-channel deal with StanleyBet Romania in April, Kambi has consistently positioned themselves to increase their revenue. These acquisitions represent the 10th consecutive quarter of new business being added to the company’s portfolio.

Commenting on his companies potential for future growth Kambi CEO, Kristian Nylén, said: “With a World Cup around the corner and preparations for the potential opening of a US market progressing well, the levels of excitement and optimism at Kambi continue to grow."

RELATED TAGS: Financial | Sports Betting
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