Kambi reports continued revenue and profit growth

Business News

Kambi Group revenue amounted to €21.7 (19.0) million for the fourth quarter of 2018, and €76.2 (62.1) million for the period January to December 2018.

Operating profit (EBIT) for the fourth quarter of 2018 was €4.2 (5.0) million,with a margin of 19.2% (26.3%), and €12.7 (7.7) million for the period January to December 2018, with a margin of 16.7% (12.4%). Profit after Tax amounted to €3.3 (3.9) million for the fourth quarter of 2018, and €9.8 (5.9) million for the period January to December 2018

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.

Kambi‘s operator turnover increased by 42% year-on-year in Q4 2018 while revenue was up 14%. Meanwhile, operator trading margin came in at 8.5%, once again above our long-term expected average. Bearing in mind the comparative period in 2017 delivered Kambi‘s highest ever operator trading margin, our Q4 2018 performance is particularly pleasing and highlights the positive momentum we have built within the business.

While there were many positive aspects to our Q4 2018 performance, the highlight was Kambi‘s retail delivery. During the quarter, Kambi successfully launched on-property sportsbooks with DraftKings at the Resorts Casino in New Jersey and with Rush Street Interactive in two casinos in Pennsylvania. Furthermore, much of the planning and preparation work for the launches of ATG in 2,000 retail stores in Sweden and two properties owned by new customer signing Greenwood Gaming & Entertainment in Pennsylvania, took place in Q4, enabling their successful launches in January 2019.

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, said CEO Kristian Nylén.