Despite the suspension of real-world sporting action for much of 2020, Kambi–one of the world’s premier providers of sports betting technology and services–is predicting an impressive 76 per cent surge in revenue for the year’s final financial quarter.
The Malta-based gaming affiliate estimates its Q4 revenue to be in the region of €47m (£42.5m/US$57.6m), which would drive 2020 revenue up around 28 per cent to an estimated €118m (£106.8m/US$144.6m).
Kambi, partner to 25 major national and international operators, in the UK, USA, Sweden, Australia, The Philippines and Romania, among other countries, has reported growth in staking and a strong trading margin of just under 10 per cent.
Although expenses grew to a more-than-anticipated €25m (£22.6m/US$30.6m), the company’s shares, listed on the Nasdaq Stockholm Exchange, rose almost 35 per cent in value in the quarter and ended the year at SEK393.4 per share (£35.41/US$47.96/€39.12).
Full 2020 costs will nudge just over €105m (£95m/US$128.7m), the firm says.
Expected earnings in Q4 before interest and tax (EBITA) should be in the region of €21m to €24m (£19m-£21.7m/US$25.7m-US$29.4m), while full 2020 EBITA is expected to be between €31m and €34m (£28m-£30.8m/US$38m-US$41.7m), up around 120 per cent from the previous year.
With Penn National Gaming’s Kambi-powered Barstool Sportsbook now on full stream (after a September launch) and a new deal with Dutch casino operator JHV Gaming inked, the future is looking clear for Kambi.