Revenue grew to €42.6 million, aided by a trio of launches in the regulated Pennsyvlania market in the three months ended June 30, 2019. Having processed the first legal online bet in New Jersey in the prior year, Kambi achieved the same feat in the neighbouring state, with Rush Street’s PlaySugarHouse.com site.
Kambi also supplied the sports betting technology for the second and third brands to launch in the market, Greenwood Gaming & Entertainment’s Parx Casino and Rush Street’s BetRivers.com.
“It was during Q2 last year that the US Supreme Court decided to repeal the country’s federal sports betting ban, a judgment I said at the time would create significant business opportunities for Kambi,” the firm’s CEO Kristian Nylén said. “Looking back over the past 12 months, I’m proud to say we’ve built a robust US-facing business with a fantastic portfolio of partners, and I continue to have great confidence in our future prospects.”
“As the number of regulated states steadily increases over the coming years, so too will the number of attractive opportunities,” he continued. “The fact Kambi has proven its ability to deliver in the US, coupled with our ongoing US investments in people and products, puts us in a good position to convert the best of these opportunities.”
It also supported William Hill’s launch in the regulated Swedish market, after the operator rebranded the Redbet.se site, acquired through its purchase of MRG Group, in late April. According to Kambi’s Turnover Index, operator turnover was up 26% year-on-year.
The second quarter also saw Kambi strike a long-term supply agreement with igaming startup BetWarrior, which aims to launch in Latin American and European markets. A roll-out is expected before the end of 2019.
“This remains an exciting time for Kambi and I look forward to seeing what the second half of the year,” Nylén said.
Source: GMB / iGaming Business
