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July 27, 2022 Sports Betting, Finance, Results

Kambi Group plc reports earnings for Q2 2022

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Revenue amounted to $35.7m for the second quarter, declining from $43.3m in Q2 of 2021.

The second quarter numbers for Kambi Group plc have been revealed, discplaying a decline in revenue compared to the same time last year.

The company also highlighted recent deals and acquisitions made during the second quarter.

Revenue generated amounted to $35.7m for the second quarter, declining from $43.3 during the same time in 2021. The first half of the year saw the company generate $72.4m, compared to $87.1m in the first half of 2021.

Earnings per share for the second quarter of 2022 were $0.11 and $0.29 for the first half of 2022.

A statement from Kambi Group plc read: "In Q2, Kambi delivered another positive quarter with underlying growth remaining healthy and operator turnover up 16% when adjusting for the migration of DraftKings.

"We also signed a partnership with Mohegan Gaming & Entertainment, launched in Canada and Mexico, and announced an extension to our contract with US multi-state operator betPARX, all while making significant strategic progress."

The group signed an extended deal in the second quarter of 2022 with Greenwood Gaming and Entertainment, which owns betPARX.

Greenwood Gaming uses a Kambi-powered on-property sportsbook at Parx Casino in Pennsylvania and with retail partners, Gun Lake Casino and Freehold Raceway in Michigan and New Jersey respectively.

Kambi Group plc also announced the phase one completion of pricing separation from the platform which will enable the provision of modularised trading services while delivering more differentiation capabilities.

The statement continued: "Integral to our product and wider company strategy is our commitment to opening up our platform and modularising our service, enabling Kambi to increase its total addressable market."

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