Kambi reports 21% revenue rise for 2019

Sports betting supplier Kambi has reported a 21% increase in annual revenue for 2019 to €92.3m.

The Swedish firm detailed year-on-year growth across revenue, EBITDA and post-tax profits in its annual report, noting “continued growth, underpinned by the success of our operators”.

EBITDA for 2019 hit €29.1m compared to €22.5m in 2018, while post-tax profit also rose to €10.4m for 2019 from €9.8m in 2018.

Kambi’s operators experienced a total 37% increase in turnover, which was attributed to both an 8% growth in the key European market and Kambi’s expansion into five new US states.

Operators saw active players increase by 52% when comparing December 2019 to December 2018, as well as a 40% increase in bets placed year-on-year.

Kambi chair Lars Stugemo said that despite a coronavirus outbreak, which has severely impacted sports betting revenues, Kambi would be prepared when normality resumes.

Stugemo said: “Kambi remains focused on developing the best sports betting experience possible to ensure its partners are the natural choice for consumers.

“Although the current global situation makes this more of a challenge for us, we know this won’t last forever, and we’ll continue to develop and perfect the sports betting experiences consumers love, so that when normality does return, which it will, our partners are best placed to secure their share of consumer spend,” he added.