Kambi CEO Kristian Nylén says Latin America is to become a major focus for expansion for the group after an improvement in Q1 revenue was led in the US.
Revenue increased 19 per cent to €44m from Q1 2022’s €36.9m posting, while operating profit was €4.5m at a margin of 10.3 per cent.
Operator turnover climbed 12 per cent year-on-year. The company says this was driven by existing partners and launches into new US states, with extensions signed with Rush Street Interactive and Corredor Empresarial.
Meanwhile, Kambi’s AI-driven algorithmic trading capability was launched with major European football leagues and other key competitions.
Nylén said Q1 saw Kambi hit “several important commercial milestones,” adding that LatAm is on the company’s radar for expansion.
“Kambi already has a strong foothold in some of the region’s most established sports betting markets such as Colombia and Argentina, and recent public announcements from the Brazilian government show positive signs that regulation of sports betting in Brazil is edging nearer in what is projected to become one of the world’s largest regulated markets,” he added.
