Kambi enjoys strong performance in 2018
The sports betting supplier registered a strong performance both in Q4 and 2018.
US.- Kambi Group has released its latest financial report, which indicates that the company had a strong performance in the fourth quarter of the year and helped achieve €76.2 million for the January-December 2018 period.
For the fourth quarter of 2018 revenue amounted €21.7 million, and €76.2 million for the period of January to December 2018. Operating profit for the three month period between October to December was €4.2 million, with a margin of 19.2% and €12.7 million for the period January to December 2018, with a margin of 16.7%.
Profit after Tax amounted to €3.3 million for the fourth quarter of 2018, and €9.8 million for the period January to December 2018, while earnings per share for the fourth quarter of 2018 were €0.110, and €0.326 for the period January to December 2018.
Moreover, the company registered a strong financial performance, including 42% operator turnover growth, with Kambi revenue growing 14%. Operator trading margin of 8.5% was above expectation, although below the 9.7% margin in Q4 2017.
The company also launched on-property Sportsbooks with DraftKings in New Jersey and Rush Street Interactive’s Rivers Casino and SugarHouse Casino in Pennsylvania, signed a contract with Greenwood Gaming & Entertainment, owner of the largest gaming complex in Pennsylvania, Parx Casino, and received full licence in Mississippi, an interim licence in Pennsylvania and supported operators in securing licences in Sweden.
Kambi’s CEO Kristian Nylén said: “It gives me great pleasure to present another strong quarter for Kambi, bringing to a close what was the most successful year in our history. Thanks to the hard work of all Kambi staff, Q4 2018 produced another period of financial growth, new customer signings and regulated market entries.
“While there were many positive aspects to our Q4 2018 performance, the highlight was Kambi’s retail delivery.”
Furthermore, the CEO added that “with the US market high on Kambi’s priority list, our ability to demonstrate our high-quality on-property Sportsbook and prompt time-to-market leaves us well-placed moving forward, particularly considering the emphasis US operators and state regulators place on the retail channel. When also factoring in the early success we have had online in New Jersey, I’m not surprised Kambi is now seen as the leading multi-channel sports betting supplier in this burgeoning market.”
“Reflecting on the year as a whole, 2018 will be remembered as one of achievement and one in which Kambi reached new heights. And although much hard work remains in front of us, the strong foundations we have put in place leave me confident Kambi can remain on this upward trajectory throughout 2019. The year has already begun positively with the successful launch of new customers in multiple markets and the signing of an agreement to relaunch the popular German sports betting brand mybet later this year. The business remains in great shape for the challenges and opportunities that lie ahead.”
