SPORTS BETTING
UK – Kambi enjoys its best ever year with eight new operator signings
By Phil - 30 March 2022
Sports betting operator Kambi enjoyed a 38 per cent increase in revenue in 2021 to an all-time high of €162.4m, with operator turnover up 40 per cent
This led to a 77 per cent growth in operating profit, strengthening Kambi’s net cash position which now stands at €72.3mwith the year seeing eight new operator signings, bringing Kambi’s global network to 40 partners with 70 partner launches completed, including over 50 in the US alone.
Kambi’s Chairman Lars Stugemo said: “Regulators previously hesitant to regulate online sports betting are increasingly turning to the leisure activity, in large part due to operator demand, i.e. land-based casinos in the US wanting to introduce or expand their digital offerings to diversify their predominantly retail business and provide their customers with the excitement that online sports betting provides.
“This increase in the regulation of sports betting is something we see the world over and is set to continue over the coming years, with great potential in countries such as Canada and Brazil in the near term and Japan and India in the mid-long term. When considering Kambi’s current focus regions, the combined operator gross gaming revenue in regulated markets is expected to grow significantly over the next five years. This steep growth trajectory presents an exciting opportunity and one Kambi is in prime position to capitalise on.”
“We have continued to develop our market-leading Bet Builder product, giving players the ability to create their own off-menu bets by combining outcomes not just in a single game as is increasingly common, but across multiple games and sports to a level of combinability never seen before,” he added. “The commercial impact of this innovative Bet Builder product contributed to what was another year of excellence for Kambi and our partners, providing them with a key competitive edge in a very competitive market. Players are increasingly demanding more control over how and what they bet on, and Kambi’s passion, expertise and technology will ensure we continue to provide players with the sports betting experiences they desire.
CEO Kristian Nylén added: “It was another extremely positive 12-month period for the business with revenue up 38 per cent year-on-year at €162.4m and operator turnover up 40 per cent. The scalability of the business model was also on show with a high operating margin of 35 per centeven as we continued to invest in both product and our staff, whilst completing more than 60 launches across the globe. Furthermore, 77 per cent growth in operating profit significantly strengthened the company’s net cash position, which now stands at €72.3m and leaves Kambi in a strong position to expedite its growth plans where needed.
“Our expertise and regulatory compliant technology were crucial in Kambi being able to power more than 60 online and on-property launches during 2021, averaging a launch every five to six days,” he added. “This included several market-firsts in the US where Kambi retains a strong position having now launched in a total of 18 states since the repeal of PASPA in 2018. The US market underpins our global growth strategy and continues to be of great promise for Kambi after hitting several milestones in 2021, not least receiving a mobile platform licence in New York State which is the most populous state to regulate online sports wagering to date.”
