Kambi Group Plc maintains a positive outlook for 2024 trading, as its business overcomes client wagering deficits related to the cessation of its Penn US sportsbook contract. Publishing its Interim 2024 accounts, the Stockholm-listed sports betting technology group achieved Q2 revenues of €46m (Q2 2023: €43m) and €89m (H1 2023: €87m) for the first half of year trading. As noted …
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Kambi Group Plc has withdrawn its long-term 2027 financial targets, which aimed to triple the revenue and EBIT results of the Stockholm-listed sports betting technology group. The decision was announced by Kambi’s board, who have withdrawn ‘underlying assumptions’ to achieve 2027 targets of generating “revenue of 2-3x FY2022 levels, approximately €330m – €500m and EBIT in excess of €150m”. The …
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The board of Kambi Group Plc has confirmed the appointment of Werner Becher as the new CEO of the Stockholm-listed sports betting technology group. Announced this morning, Becher will take charge of Kambi’s leadership from late July, succeeding incumbent Kristian Nylén, who ends his 14-year tenure as Chief Executive. As confirmed by the board: “Becher will officially assume the position …
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Kambi Group plc has signed a partnership with the Mohegan Pennsylvania casino for the provision of its sportsbook offering to a number of retail locations. Kambi’s sportsbook will be onboarded to more than 20 kiosks that are part of the main Mohegan Pennsylvania entertainment venue, as well as the Mohegan Pennsylvania at Lehigh Valley Race and Sportsbook. Kristian Nylén, Kambi …
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Kambi’s latest commercial performance report has painted a strong start to the year, with elevated commercial expectations for Euro 2024. Net cash was at €46m compared to the €61.2m in Q1 2023. According to David Kenyon, CFO at Kambi, this balance sheet is enough to give customers assurances that Kambi “is here for the long haul”. Kenyon also suggested the …
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Anders Ström, Kambi Chair, and Kristian Nylén, Group CEO, have reflected on a year of strategic and operational progress, as 2023 saw a shift in the firm’s business model. Addressing investors, the duo reflected on a year which saw €173.3m in revenue, multiple operator signings and partnership extensions, as well as sportsbook launches, amongst other successes. Speaking of the Stockholm-listed …
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Kambi Group Plc has declared that it has achieved a ‘stronger foundation for growth’, following a difficult close to year-end trading which impacted its full-year 2023 results. Publishing its Fourth Quarter and FY2023 results this morning, the Stockholm-listed sports betting technology group registered a 23% decline in Q4 revenues to €44.3m (Q42022: €58m). The decline in period revenues was attributed …
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The board of Kambi Group Plc has announced this morning that Kristian Nylén has expressed his intention to step down as CEO of the Stockholm-listed sports betting technology group. Nylén, who co-founded Kambi in 2010, will resign from leadership duties upon the appointment of a successor, as the Board initiates a search for a new CEO. Having served as Kambi’s …
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Kambi has signed a long-term partnership with Bingoal – a well known operator in both Belgium and the Netherlands. The deal will see the Malta-headquartered platform provider supply its complete sportsbook to Bingoal across its online and retail channels. Kristian Nylén, Kambi CEO and Co-Founder, commented: “We are delighted to announce our new agreement with Bingoal, an established European operator …
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Artificial Intelligence is the next major growth driver in the betting space according to Kambi’s CEO Kristian Nylen following the group’s Q3 earnings presentation, and is an area the company intends to take strides in. As well as announcing its achievement of significant financial targets, such as a 15% increase in revenue to €42m, Kambi today revealed a new name …
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