Issuing a market statement, Nordic Nasdaq-listed sports betting platform/software supplier Kambi Plc, has revised its Q4 2017 corporate revenue forecasts, due to favourable football results recorded during the month of December.
Updating investors, Kambi details that its was able to maintain an ‘all-time high sportsbook margin of 9.7%’ during its Q4 2017 trading, a figure which is significantly higher than its target ‘average margin’ of 6.5 – 7.0%.
“The full speed of the football season over Q4 paired with a December month which was particularly strong for the sports-book operators, and with results in favour of the operators within top football leagues (70% of Kambi’s sportsbook), Kambi’s sports book margin for Q4 17E came in at historical highs of 9.7% (and an operator index at 196 -19% y/y growth)” read a Danske Bank equity research analyst note.
Following its ‘upbeat trading’, Kambi governance now estimates its topline fourth-quarter revenue to be in the range of €18.8 – €19.2 million, which will include the a circa €800,000 cost related to the contract renegotiation of 888Sport.
Closing its trading statement, Kambi governance informs that it will present its Q4 2017 corporate results on 14 February 2018 – 07:45 CET.