US expansion sees Kambi’s Q3 revenue rise by 48%
The company reported revenue of $48.3m for the period ending September 30, 2021.
Kambi, a provider of sports betting services to licensed B2C gaming operators, has today revealed its financial results for the Q3 of 2021.
These results see Kambi boast a 48% year-on-year increase in revenue, coming in at $48.3m. The group cited its launch in Arizona and the start of the NFL season as key reasons for growth.
“I’m pleased to report another excellent quarter for Kambi, with strong financial results against tough 2020 comparables, which is a testament to our robust business model and the hard work of our staff across the world,” commented Kambi’s CEO Kristian Nylén.
“We had a strong start to the new NFL season, which kicked off on 9 September, with our platform outperforming the competition and our market-leading Bet Builder product engaging a large number of bettors and returning higher average operator trading margin.”
He concluded: “Furthermore, revenue in Q3 was boosted by our continued US expansion, including day one launches in Arizona, the 15th state in which Kambi has launched. In total, Kambi completed approximately one launch per week on average throughout the quarter.”
Kambi has also reported its financial results for the period of January to September 2021. The nine-month stretch saw the company report revenue of $147.8m, an 80% increase from the same period in 2020.
Expansion throughout the Bahamas also played a role in the company’s growth during Q3, with Kambi signing a partnership with Island Luck.
Yesterday, Kambi announced an enhancement to its Game Parley product that will see the platform add NCAA college football.
Simon Noy, SVP Trading of Kambi, said: “The expansion of college football within Game Parlay is an exciting step forward for our product, our partners and bettors alike. Now bettors can enjoy even more college football markets in their Game Parley bets that span not only across multiple games but across multiple leagues too.”
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