Kambi declares strong H1 driven by client growth

Stockholm Nasdaq-listed online sports betting solutions provider Kambi has closed a successful first half to 2016, stating that its corporate performance has been driven by ‘exceptional operator turnover growth’.

Presenting its Q2 2016 interim results (unaudited period ending 30 June), Kambi would declare group revenues of €13.7 million (up 28% on Q2 2015: €10.7 million).

Its uplift in revenues would see Kambi declare period operating profits (EBIT) of €2 million (Q2 2015: €800,000). Kambi governance would detail that its improved profit results were aided by a stronger operating margin of 14% (2015: 7%).

A strong first half to 2016, has seen Kambi win significant industry clients, strengthening the company’s focus on delivering sports betting solutions for established European gambling operators.

Kambi governance was pleased to detail that during Q2 2016, it was able to successfully launch three new betting platforms for European online gambling operators; LeoVegas, Mr Green and Rank Group.

Aided by its new client wins, Kambi governance stated that the company’s future performance would be driven by the growth of its operators once further established in the European sports betting market.

Kristian Nylén, CEO of Kambi commented on corporate performance

“Investment in people and technology will continue as we work on building our service and network of operators to drive growth. We are very well positioned as the premier supplier of managed sports betting services.”

“Euro 2016 was a great success for Kambi both financially and operationally. Our operators saw a remarkable increase in turnover. We delivered exciting new features as part of our fantastic offering with excellent technical performance.”

“During the quarter we worked together with our three new operators to launch their Sportsbooks in time for Euro 2016 and we look forward to being an instrumental part of their future success.