Kambi Q4 revenues up 14% on new market expansion
CEO Kristian Nylén says retail delivery makes the provider well-placed in the US
Kambi has reported a 14% rise in Q4 revenues to €21.7m on the back of new customer launches and additional market entries.
Operator turnover was up 42% year-on-year but trading margin was down from the record-breaking 9.7% last Q4 to 8.5%.
Operating profit in Q4 was €4.2m, down from €5m last year, as costs increased due to an expanded trading and product development teams.
In Q4, 56% of Kambi’s revenue was derived from locally regulated markets, up from 48% in the same period last year.
Kambi CEO Kristian Nylén hailed a strong quarter for Kambi, bringing to a close “the most successful year in our history”.
Nylén said the most pleasing aspect of the quarter was Kambi’s retail delivery including the launch of several on-property sportsbooks in the US.
“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,” Nylén said.
“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.”
For the full year, revenue was €76.2m, up from €62.1m.
After the quarter ended the provider also announced plans to relaunch the Germany-facing mybet brand on a Kambi platform.