Kambi Group H1 results boosted by US growth
Revenue for the first half of 2021 saw a year-on-year rise of 101.5%.
Sports betting solutions and investment group Kambi Group PLC has today announced both the company’s Q2 and H1 results for 2021. Results show the company continues to recover well from the Covid-19 pandemic, with US growth a key reason for this.
Revenue for the first six months of 2021 was $101.2m, which is a year-on-year increase of 101.5%. 2020 H1 revenue was $42.7m
Kambi currently operates in 13 states across and North American revenue was responsible for the majority of the company’s improved numbers, producing more money than its European counterpart.
Kambi noted that revenue increased post-March, helping the company post these improved results.
The group will continue to expand its US presence in the coming months with New York, Florida, Arizona and California soon to be added to their portfolio.
H1 operating costs were €50.7m ($60m), with an operating profit of €35.3m, representing a 908.6% year-on-year increase. EBITDA also rose 281.5% to €45.4m.
“We’re very excited about what the future holds,” Kambi’s chief executive Kristian Nylén said. “In June, we held a virtual Capital Markets Day, which enabled us to present our strategy for the future, including our position in markets with strong potential for growth, the global opportunities ahead and how we plan to capitalise on those opportunities.”
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