Kambi has seen its revenues increase for 2018, thanks mainly to the impact of the FIFA World Cup.
Q2 revenue for Kambi came to €17.6m, an increase of 25 per cent, and €34m for the first half of 2018, an increase of 20 per cent. Operating profit for the second quarter of 2018 was €2.4m, with a margin of 14 per cent, and 4.4m, with a margin of 13 per cent, for the first half of 2018.
Profit after tax amounted to €1.7m for the second quarter of 2018 and 3.2m for the first half of 2018. Earnings per share for the second quarter of 2018 were €0.055 and €0.107 for the first half of 2018. Cash flow from operating and investing activities (excluding working capital) amounted to €1.9m for the second quarter of 2018 and €2.5m for the first half of 2018.
Altogether, the company has seen 25 per cent year-on-year growth.
Another highlight has been the signing of two US-based customers DraftKings and Rush Street Gaming, following the lifting of the US sports betting ban.
A Kambi representative said: "Although the World Cup began on 14 June, of even more long-term significance was a legal judgment handed down one month earlier. On 14 May, the US Supreme Court ruled the country's federal ban on sports betting to be unconstitutional, and in doing so handed each state the authority to dictate their own sports betting laws.
"The decision has the potential to create a significant business opportunity for Kambi. In previous quarterly reports we discussed how Kambi had been preparing for such an outcome, and our proactive efforts in the US can already be seen in our recent business wins.
"Since the ruling, Kambi has signed two prominent operators in the US market. Firstly, in May we signed with Rush Street Gaming, an innovative gaming company with physical casinos in three US states, New York, Pennsylvania and Illinois, and an online presence in New Jersey. In addition, last month we secured a deal with DraftKings, the leading daily fantasy sports operator in the US and a company with a large database of sports fans.
"I'm excited about what we can achieve with both customers, and in the US more generally. However, the state-by-state roll out of regulated sports betting will not happen overnight, therefore our US-facing business should be viewed in the mid-to-long-term."
