Global sports betting supplier Kambi has announced a new customer in BetWarrior, while posting Q2 2019 results showing a 23 per cent increase in revenue and 26 per cent rise in operator turnover.
A new operator, BetWarrior plans to target countries in Latin America. Kambi has also moved to strengthen its partnerships with National Lottery and the Rank Group.
National Lottery has taken the Kambi sportsbook into Moldova, having enjoyed strong growth in its home country of Bulgaria. Meanwhile, Rank will soon add the Kambi sportsbook to its Spain-facing Enracha brand.
Kambi’s revenue amounted to €21.6m (€17.6m) for the second quarter of 2019 and €42.6m (€34m) for the first half of 2019. Operating profit for the second quarter of 2019 was €2.5m (€2.4m), with a margin of 11.7 per cent (13.8 per cent), and €5.1m (€4.4m), with a margin of 12.1 per cent (12.9 per cent) for the first half of 2019.
Profit after tax amounted to €1.6m (€1.7m) for the second quarter of 2019 and €3.6m (€3.2m) for the first half of 2019. Earnings per share for the second quarter of 2019 were €0.052 (€0.055) and €0.117 (€0.107) for the first half of 2019.
Kambi CEO Kristian Nylén said: “Looking back over the past 12 months, I’m proud to say we’ve built a robust US-facing business with a fantastic portfolio of partners, and I continue to have great confidence in our future prospects.
“The development of the competitive landscape in the US has certainly been dynamic, with operators and suppliers taking a variety of strategic routes. For some, joint ventures or M&A have been the preferred choice, while for our multiple US customers, the decision to partner with Kambi has brought them immediate success, and long may that continue.
“As the number of regulated states steadily increases over the coming years, so too will the number of attractive opportunities. The fact Kambi has proven its ability to deliver in the US, coupled with our ongoing US investments in people and products, puts us in a good position to convert the best of these opportunities.”
