Kambi Group has made a positive start to the year, with the signing of new customer Casumo and investment in Virtus Sports adding to double-digit revenue growth in the opening quarter as the company continues with its New Jersey licence application.
Revenue was at €16.4m for Q1 2018, up 15 per cent year-on-year from €14.2m. Operating profit was €2m (€1.4m) with a margin of 12 per cent (10 per cent).
Profit after tax for the first quarter was €1.5m (€1.1m) and earnings per share were €0.051 (€0.036).
The signing of Casumo in Q1 was added to recently by Stanleybet Romania in Q2, while Kambi paid €569,000 for a stake in virtual sports provider Virtus Sports.
"Kambi kicked off the year in positive fashion with Q1 2018 delivering double-digit revenue growth, a strategic investment in a virtual sports company and the signing of a new customer,” the company stated.
“In addition, since the end of the quarter, we added another operator to the Kambi network, stretching our run of new customer wins to an impressive 10 consecutive quarters.
“With a World Cup around the corner and preparations for the potential opening of a US market progressing well, the levels of excitement and optimism at Kambi continue to grow."
