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Kambi grows revenue 21% year-on-year to €92.3m

By Iqbal Johal

Kambi has announced a full-year revenue increase of 21% year-on-year, after posting its Q4 and full-year results.

Revenue from January to December 2019 rose to €92.3m ($100.7m), while profit after tax increased by 6% yearly to €10.4m and EBITDA rose 29% to €29.1m.

Revenue for Q4 improved by 23% from 2018 to €26.7m, while profit after tax increased 39% to €4.6m.

Kambi CEO Kristian Nylén said: "Looking back on 2019, it was another great year for Kambi, as we continued to build out a fantastic sports betting product, expanded into multiple new markets and signed six new partners, all of which leaves us in a great place for 2020.

"The evolving nature of the sports betting industry means there will always be challenges to overcome but I know we have built a robust business with the capability and strength to withstand these pressures."

The supplier contributed its financial growth to expansion in the US, which saw it launch in all three of Seneca Gaming Corporation’s New York Casinos after signing a partnership in November.

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