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Kambi Reports All-Time High with €166 Million in 2022

04 april 2023
Author: James Burton

Kambi, the premium provider of sports betting services, surprised the audience with an excellent performance in 2022. Its annual revenue reached € 166 million, which became an «all-time high».

Kambi’s Annual Performance

Kambi gambling profit has risen in 2022

The brand finally reached and even surpassed its pre-pandemic results. This is a great achievement considering how hard it was for the company to survive the crisis.

Let us take a look at the group’s revenue throughout the last few years:

  • 2019 — € 92.3 million;
  • 2020 — € 117.7 million;
  • 2021 — € 162.4 million;
  • 2022 — € 166 million.

When Kambi introduced its latest annual financial report, it was hard to deny the positive trend across the world. The gross gaming revenue (GGR) per region demonstrates the dominance of the European market at 43%. The solid share was also taken by the American territories. The rest of the world covered 3% only.

In 2022, Kambi signed a series of important agreements with leading companies in the web gambling industry. Meanwhile, the acquisition of Shape Games and extended contracts with Kindred Group and betPARX required additional costs. Taken together, these affected the organisation’s net income.

Kambi’s EBITDA, indicating the company’s financial health before interest, taxes, depreciation and amortisation, went from € 79.2 million to € 63.4 million. Meanwhile, the group’s operating profit for the full year stood at € 34.8 million which is 39% lower compared to the previous result. After deducting taxes, the earnings fell to € 26.5 million.

Kambi’s Future Trends

The role of third-party software developers looks very optimistic. Kambi decides to stick with its accomplishments to grow domestically and internationally. Last year, the company introduced its first modular service called Bet Builder. The innovative solution in the sports betting sector proved itself as «a key differentiator» that aims to change traditional sportsbooks once and for all.

Kristian Nylen, the CEO at Kambi, said that the company’s success in 2022 revealed the huge potential of its products. They are determined to improve the studio’s sportsbook and all the related services. The team will be working hard to maintain the growing trend in 2023.

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