SBC News Voice of the Sports Betting Industry
Sports betting software supplier Kambi Sports Solutions announced Q1 2015 revenues of €10 million up 29% on €7.7 million Q1 2014, as the supplier looks to expand its European sports betting services in the coming months.
NASDAQ listed Kambi, the former B2B division of Unibet Plc, reported an operating profit of €800,000 (Q1 2014 -€100,000) with net margins maintained at 8%, the company would record a profit after tax of €600,000 for its 2015 opening quarter.
Kambi noted that its improved performance had been driven by improved activity on its clients sports betting systems, in particular its UK client-base which had recorded high wagering levels during the period.
Kambi management outlined that the company plans to grow its services for the Italian sports betting market during the year. Kambi has added resources to its operations in order to help its planned Italian expansion.
The company further announced that it would continue to provide bookmakers Unibet and PAF with upgraded services during the year
Kristian Nylén, CEO of Kambi commented on Q1 2015
“The first quarter showed a significant increase in our operators’ turnover, up 47% compared to the same period last year. This demonstrates very strong growth, which clearly shows the strength of our service. For Kambi, this resulted in a 29% increase in revenue, partly explained by lower than average margins. We are positive about regulatory changes in the Italian market and the opportunities they give us, as we prepare the launch of a premium offering compliant with the new regulation. We continue to strengthen our sales team and are in a number of ongoing discussions with potential customers.”,
