Kambi revenues up 12% in Q3 on US growth
Operating profit slips 19% in the quarter after continued investment stateside
Kambi has reported a 12% rise in Q3 revenues to €23m on the strength of the sports betting supplier’s continued US expansion.
Operating profit for the quarter was €3.4m, down 19% year-on-year, after investment in the US opportunity and the lack of a major football tournament.
Operator turnover climbed 23%.
Kambi CEO Kristian Nylen said: “I was pleased to see momentum increase throughout the quarter, culminating in September’s operator turnover, which was up significantly year-on-year and surpassed the previous highest monthly total.
“This encouraging performance was due to the combination of multiple customer launches, enhancements to the Kambi sportsbook, and a busier sporting calendar, which gives me confidence for the rest of the year.”
Kambi signed two new customers during the quarter, including Penn National Gaming and JACK Entertainment, an Ohio casino operator.
It also launched several partners in the US, including Unibet in New Jersey and Pennsylvania.
“In general, Kambi remains well positioned for the future and I look forward to building on our successes in Q4 and beyond,” Nylen added.
The supplier’s share price was up 1.38% this morning at the time of writing.
