Kambi Q2 helped by European Soccer Championship as US sport experiences seasonal lull

Supply: Kambi

Sports activities betting know-how firm Kambi launched its second quarter and first half monetary replace this week, citing robust monetary outcomes pushed by the European Soccer Championship that helped offset a seasonal lull in U.S. sports activities motion.

Income amounted to $ 50.4 million (Q2 2020: $ 17.4 million) for the second quarter of 2021 and $ 101.2 million (H1 2020: $ 50.3 million) for the primary half 2021, a rise of 102%. Working income (EBIT) for the second quarter of 2021 was $ 19.5 million (- $ 4 million), at a margin of 38.8% (-22.7%), and 41, $ 5 million ($ 4.1 million), at a margin of 41.0% (8.2%) for the primary half of 2021

Updating buyers, the corporate drew consideration to its elevated presence in the US, supporting Churchill Downs Integrated, Penn Nationwide Gaming and Kinship with sports activities betting launches in 4 states. He additionally highlighted its in depth presence within the rising sports activities betting market in South America, fueling the launch of Olimpo.wager in Peru earlier than a wider deployment

CEO Kristian Nylén commented: “I’m delighted to say that Kambi’s optimistic momentum continued into the second quarter of the yr, with robust monetary outcomes pushed by the UEFA European Soccer Championship, making up for the dearth of of NFL and faculty sports activities in the US.

“In opposition to the backdrop of the seasonal US sports activities calendar, Kambi has persistently been in a position to ship good leads to the second quarter, with gross sales of 42.8 million euros ($ 50.4 million), a operator turnover index of 911 and an operator gross sales margin of 9.3%, thus finishing an encouraging semester.

“When it comes to international alternatives and our addressable market, there was optimistic information from Canada with the repeal of its ban on single betting, in flip giving provinces the flexibility to supply a way more liberalized type of regulated sports activities betting.

“We’re happy to see the provinces take over and make progress in direction of new licensing frameworks. Ontario, the nation’s largest province with a inhabitants of round 15 million, could possibly be the primary to go stay by the top of the yr.

“Within the meantime, our success over the previous few years provides us a stable observe file, giving us the chance to develop when and the place vital, speed up our international development plans and create extra shareholder worth. “

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