Kambi eyes LatAm expansion after 20% profit hike
CEO Kristian Nylén points to success of operators on Kambi platform during H1 and targets Mexico as future growth market
Sportsbook supplier Kambi reported a 20% H1 revenue rise to 20.7m (£14.43m) this morning and its CEO said the firm was looking towards Latin America for further growth.
Revenues for Q2 were up 13% to 10.7m (£7.46m) while H1 EBITDA hit 1.6m (£1.12m), more than double that registered for the same period last year.
Operator turnover, derived from the likes of 888, Unibet and 32Red, increased 36%, despite going up against last year’s World Cup quarter, with CEO Kristian Nylén saying the increase underlined the continued growth of operators on the Kambi platform.
The firm focused on international expansion during the quarter, announcing plans to open a new office in Bucharest to strengthen its trading function, and making its first moves into the Mexican market.
In June, Kambi announced the deal to provide an in-house sportsbook to Grupo Televisa’s PlayCity Casino group, with plans to develop an online sportsbook offering for the casino in the near future as Mexico liberalises its gambling laws.
“We have been working to extend our customer base to South America,” Nylén said. “This led in Q2 to the signing of an initial contract with the Mexican media company Grupo Televisa.
“It is the first customer Kambi has signed in this region and we are very pleased to be working with a major player, which has the potential to become a future market leader in Mexico,” he added.
Nylén also said Kambi had begun rolling out its new betting client, saying it expected the client to “create a better and more exciting user experience” as well as offering enhanced flexibility to operators.