Euro 2016 boost drives Kambi revenues up 15%
Operator turnover up 37% year-on-year following "outstanding results" during the tournament
Kambi has announced a 15% year-on-year increase in Q3 revenues after the sportsbook supplier reaped the rewards of a successful Euro 2016 and expanded client portfolio.
Revenues for the quarter ended September 2016 stood at 14.8m, up from 12.8m in the comparative period last year, while the company’s operating profit also increased from 2.5m to 3.1m.
Kambi said it had seen “outstanding results” from Euro 2016, as well as the Olympics and tennis, which contributed to a strong operator margin during the three-month period.
“I am really pleased to deliver an excellent set of results for Q3,” Kristian Nylén, CEO of Kambi said.
“Our unparalleled service drove a 37% growth in operator turnover, which led to strong results for Kambi of 25% growth in operating profit,” he added.
Nylén also said the supplier was now looking to expand its retail business and extend its presence throughout Latin America in the future.
Today’s financial results comes after Kambi recently struck a deal with Novomatic which will see the two suppliers integrate products to provide combined sports and lottery service to state-owned lottery companies.
The agreement was the latest in a long line of deals for Kambi this year having previously signed up LeoVegas, Mr Green and Rank Group during 2016.