Kambi revenues up by a third as client list grows

Kambi saw revenues increase by a third during the first three months of 2016, a period in which the sportsbook supplier added two significant operators to its roster of licensees.

Revenues rose 33% year-on-year to ?13.3m in Q1, leading to operating profit of ?2m and profit after tax of ?1.8m ?0.6m.

These figures were driven by a 50% rise in turnover from existing licensees, including Unibet and 888sport, however sportsbook margin fell to 6.7% compared to 7% in Q4 2015.

Kambi celebrated two high-profile client wins during Q1, in the shape of LeoVegas and Rank Group and also added Mr Green to that list earlier this month.

CEO Kristian Nyl?n said the firm upgraded its Italian service in Q1 with the addition of more sports and greater depth around existing markets. The revised product is now live for three Italian-facing licensees, Nyl?n said.

Kambi also said its new HTML5 client is now being rolled out to all its operators, allowing bookies to “create a unique player experience”.

“2016 has started at a strong pace with an increase in operator turnover of 50% compared to the same period last year,” Nyl?n said.

“We are very pleased with the traction and market share gains we continue to see from our operators.”

Shares in the supplier, which now employs 467 employees across offices in Malta, Bucharest, London, Manila and Stockholm, were down SEK11 to SEK137.25 at the time of writing.