During the period Kambi signed two new customers: Mohegan Gaming and Entertainment in Connecticut, US, and Rhinoceros Operations (mybet) in Germany. The company also launched three on-property sportsbooks in Pennsylvania with Greenwood Gaming and established an early market leadership position.
At Kambi, revenue represents fees received for sports betting services rendered to its operators. Re-regulation in Sweden and Kambi’s entrance into a number of regulated states in the US meant the provider expanded its customer base and generated more revenue as a result.
“Following a hugely successful 2018, I’m pleased to report 2019 kicked off in similarly positive fashion for Kambi,” said CEO Kristian Nylén. “Building on our tremendous achievements last year, we continue to reach new heights with Q1 2019 one of our best quarters yet.”
Nylén cited new partnerships with the Mohegan Sun casino in Connecticut, US, and the relaunch of mybet in Germany as major highlights for Kambi in Q1. The provider will supply an online and on-property sportsbook to Mohegan Sun, with a free-to-play variant already live.
Nylén said expansion in the US market remains one of Kambi’s main strategic priorities and the provider will continue to seek out new partners as more states move to legalise sports betting.
“As expected, the regulation of sports betting state-by-state has been a slow process but one which may pick up in the coming months as states push for legislation ahead of the start of the next NFL season in September,” he said.
“Of more importance is that states regulate the right way. As we have seen in New Jersey, where mobile betting represents 80% of the market, online regulation is key if states are to channel players away from the illegal market into a safe and regulated environment,” Nylén concluded.
Source: GMB
