Sports betting solutions provider Kambi Group has reported a 23 per cent year-on-year rise in fourth-quarter revenue and a 52 per cent increase in Q4 operator turnover.
Operating revenue amounted to €26.7m for Q4 2019 and €92m for the period January to December 2019, the firm noted.
Operating profit for the quarter was €6.2m, with a margin of 23.1 per cent and €14.7 m for the period January to December 2019, with a margin of 16.0 per cent.
The uptick in operating revenue is partly driven by expansion into new US states and new customer launches. During the period, Kambi signed with Seneca Gaming Corporation and launched in three of Seneca’s New York casinos.
The company also launched joint ventures with DraftKings and New Hampshire Lottery, going live online in the US state in late December.
Kristian Nylén, Kambi’s CEO, said: “I’m delighted to report another strong quarter, which rounds off a year in which annual revenues grew by more than 20 per cent and operator turnover by more than a third.
“Looking back on 2019, it was another great year for Kambi, as we continued to build out a fantastic sports betting product, expanded into multiple new markets and signed six new partners, all of which leaves us in a great place for 2020.”
