March 30, 2022 iGaming, Finance, Results

Kambi Group PLC releases the annual report for 2021

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Highlights include Kambi's global network being extended to 40 partners worldwide.

The annual report for the Kambi Group PLC has been released and covers a revenue increase along with new operator signings. There will also be an upcoming annual general meeting on May 17, 2022, at 11:00 CEST in Stockholm, Sweden.

The annual report detailed the company's 38% increase in revenue to an all-time high of $181.2m, with operator turnover up 40%. Kambi’s net cash position now stands at $80.7m, a 77% growth in operating profit.

In the US, Kambi launched 50 partners, the total going over 70 worldwide. Kambi also signed eight new operators in 2021, bringing its global network to 40 total. There were no contingent liabilities or contingent assets at December 31, 2020, or at December 31, 2021.

The Kambi Group plc Share Option Plan 2021 was introduced in July 2021. Under the scheme, the Board of Directors can grant options over shares in the Kambi Group to employees of any entity within the Kambi Group.

The group also moved into eSports, by acquiring Abios, an esports data, odds, and content provider. On February 8, 2022, Kambi Group plc and Kindred Group plc agreed on a three-year extension to their sportsbook partnership after signing a new agreement up to the end of 2026.

In addition to the contract, Kambi’s financial performance met specific conditions required to prepay, at its discretion, the convertible bond previously issued to an owned subsidiary of Kindred.

On April 27, the Q1 report for 2022 will be released as well, displaying the results for the beginning of the fiscal year. Kambi is a provider of sports betting services to licensed B2C gaming operators, the group has over 35 customers including ATG, Churchill Downs Incorporated, Kindred Group, LeoVegas, and Penn National Gaming. 

Kambi employs more than 1,000 staff across offices in Malta (headquarters), Australia, the Philippines, Romania, Sweden, the UK, and the United States.

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