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NEWS 25 October 2019

Kambi praises US deals after Q3 revenue growth

By Owain Flanders

Kambi revenue was €23m ($25.6m) for Q3 2019, a 12% rise year-on-year, while revenue for the year-to-date was €65.6m, a 20% increase.

Operating profit for the period fell 19% however, to €3.4m. Kambi attributed this decrease to the positive impact of the Fifa World Cup on last year's profit.

Kambi’s profit after tax also fell to €2.3m, a drop of 30%, with a year-to-date total of €5.8m, down 12%.

Last month, the supplier expanded into Ohio through a new deal with Jack Entertainment, while August saw Kambi secure an agreement with Penn National Gaming and an extension to its DraftKings deal.

Kambi CEO Kristian Nylén attributed the supplier’s Q3 revenue growth to these new partnerships, along with other global customer launches across retail and online.

Nylén said: "Multiple customer launches, new product releases and major commercial agreements all contributed to a successful period for Kambi.

"The third quarter is traditionally a challenging one for the sports betting industry, particularly in a year with no major summer football tournaments.

"In general, Kambi remains well positioned for the future and I look forward to building on our success in Q4 and beyond."

RELATED TAGS: Online | Industry | Sports Betting | Financial | Casino
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