Kambi hails bright future despite flat Q3 revenues

Kambi has reported a flat quarter of revenues in Q3 at €14.8m, with EBIT down 65% to  €1.1m.

The operator blamed a tough comparative period for the downturn thanks to a strong trading margin in Q3 2016 and the impact of costs associated with the 888sport contract renewal

“In many ways, Q3 could be viewed as a springboard quarter for Kambi,” said CEO Kristian Nylén.

“I’m pleased to report Kambi was able to continue its progress, with operator turnover rising 16% year-on-year versus a period which included the final stages of Euro 2016 and the Olympic Games.

The firm also announced it has agreed extended deals with both LeoVegas and Paf for the long-term

“Contract renewals are always pleasing, as they re-affirm the strength and relevance of the Kambi product, as well as the strong relationships we foster with our customers,” Nylen added.

The exec said the firm had also completed an in-depth strategic review of the business during the quarter which led to improvements to its strategy, processes and organisational structure

“All of the developments I’ve mentioned underline the quality, scalability and flexibility of the Kambi Sportsbook, giving us great confidence for the future,” Nylen added.

Operator turnover grew 16% with a margin of 7.5% for the quarter, meaning the margin for the first nine months of the year stands at 6.6%.