Strong US performance contributes to significant gains in the third quarter for Kambi. at

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""US Sports"" – Google News
Source: Camp

Sports betting technology company camp released its report for the third quarter of 2021, citing a robust performance in the U.S. sector that helped boost quarterly revenue 48% year over year to $ 48.2 million. Revenue for the first nine months of the year was $ 147.8 million, beating the total for 2020 as a whole.

Operating profit (EBIT) for the third quarter of 2021 was $ 17 million ($ 7.5 million) on a margin of 35.4% (23.3%) and $ 58 million ($ 11.6 million) with a margin of 39.2% (14.2%) for the period January to September

The company reported after-tax earnings of $ 13.8 million ($ 5.9 million) for the third quarter of 2021 and $ 46.7 million ($ 7.9 million) for the period January to September.

CEO Kristian Nylén, updated Investors, commented, “I am pleased to report another excellent quarter for Kambi with strong financial results versus difficult comparisons in 2020, which is testament to our robust business model and the hard work of our people around the world.

“Kambi’s sales in the third quarter increased by 48% compared to the previous year, the operating margin was again strong at 35% and we continue to generate high levels of cash. Exclusively Draft kings, operator revenue increased 10% year over year, underscoring the underlying growth of the business.

“We had a strong start to the new NFL Season that began on September 9th when our platform outperformed the competition and our market leading Bet Builder product attracted a large number of bettors and achieved a higher average operator trading margin.

“In addition, third-quarter revenue increased from our continued US expansion, including day one launches in Arizona, the 15th state where Kambi launched. Overall, Kambi completed an average of about one roll-out per week in the quarter. “

In relation to Penn National Gaming‘s Decision to Acquire a Canadian Sports Media Company The score, Nylén added, “It is incredibly difficult and costly to build, maintain and develop a world-class sports betting company, as we have seen in the unsuccessful efforts of others in the past.

“In the meantime, we will continue to support their growth with our fantastic platform and service that we have built over many years and that continue to be of great interest to our growing list of potential partners.

“In summary, we have developed well and the future looks bright. We currently have a sales pipeline as strong and diverse as I know it. As the global regulatory trend continues, we are in a great position to take advantage of future opportunities when they arise and we have announced the implementation of a share buyback program. “

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