Kambi CEO: Latam market is “still in a gold rush”
Werner Becher says the region will be a “key focus” for the supplier over the next two years, with the company looking to capitalise on opportunities in Brazil in particular
Kambi CEO Werner Becher has hailed Latam as a “gold rush” jurisdiction which the supplier will focus on in the next two years.
The company reported revenue of €42.7m (£37.2m) for Q4 2025, representing a 4% decrease compared to the corresponding period in 2024.
Kambi’s accounts revealed turnover from the Americas accounted for 60.3% of its operator network total, with the figure bolstered by the regulated Brazilian market that went live in January 2025.
Speaking on the supplier’s Q4 analyst call today, 18 February, Becher explained the region currently presents more of an opportunity than the European market.
He said: “I think we are still in a gold rush in South America. There’s a lot of opportunities and a lot of regulation going on country by country.
“We also still see big movements in the US, and of course we have a lot of expectation prediction markets could speed up regulation in some US states.
“In Europe, our market is already very, very mature, so there is not a lot of business we can gain. We can take some business away from other suppliers, but there’s not a lot of growth in Europe anymore.”
Becher put a particular emphasis on the Brazilian market, stating Kambi is looking to target new deals with operators which have existing agreements with other suppliers that are on the verge of expiration.
“Many customers in the Brazilian market signed up with suppliers when the market opened in early 2025. The next window of opportunity for us is coming right now, where some of these contracts will come to an end,” he added.
“We already have inbound questions from operators in Brazil who are not super happy with their existing suppliers. Not only because of pricing and trading but also mainly because of not being fully compliant with regulations.
“This is one of our big strengths; being licensed in more than 60 jurisdictions around the globe, customers can be 100% sure they are fully compliant and there is no risk of losing a licence.
“For the next 18-24 months, Latin America will be a key focus for sales ambitions.”
Becher has previously spoken of experiencing disappointment in the Brazilian market, with factors such as proposed tax increases and the number of unlicensed operators in the country cited.
In December, the Brazilian senate approved a new 15% tax on player deposits for operators, with an increase of gross gambling revenue (GGR) tax from 12% to 15% over the next three year also tabled.
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