Kambi Group published its Q1 2018 results
Kambi experienced a strong financial performance with a 15 per cent year-on-year revenue growth during the first quarter of 2018.
Malta.- Kambi kicked off the year in positive fashion with Q1 2018 delivering double-digit revenue growth, a strategic investment in a virtual sports company and the signing of a new customer. In addition, since the end of the quarter, the company added another operator to the Kambi network, stretching its run of new customer wins to an impressive ten consecutive quarters.
The Q1 metrics were encouraging, reports said, as Kambi continued to build upon the momentum gained during the second half of 2017. Kambi revenue grew 15% year-on-year, while operating profit increased by 42%. In Q1, operator trading margin was higher than the long-term expected average at 7.9%, albeit down from the unusually high operator trading margin of 9.7% in Q4 2017.
In March, Kambi signed its 16th customer in Casumo. As an innovative and gamification-led operator, Casumo sought a sportsbook solution which could give them the ability to create a betting product true to their brand. The Kambi platform is unique in that it promotes operator innovation so Casumo is seen as a good fit for the Maltese company.
Meanwhile, last week Kambi signed a multi-channel deal with Stanleybet Romania, one of the most recognised and respected sports betting brands in the regulated Romanian market. This is a significant deal for Kambi with Stanleybet Romania initially migrating its online players to the Kambi platform ahead of installing Kambi’s full suite of retail products across its 300-plus retail stores. To sign two vastly different customers with very different requirements highlights the Kambi Sportsbook’s ability to satisfy a wide spectrum of operators and player segments.
Finally, in February the company made a strategic investment into virtual sports developer and supplier Virtus Sports. This deal will strengthen the Kambi offering through the addition of a virtual sports product growing in popularity.
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.
