Kambi put this growth down to a 27.0% increase in operator turnover and an operator trading margin of 9.3%, aided by a strong performance in the global football market, particularly in the English and Spanish leagues before the virus saw all major competitions suspended.
The company noted a number of key developments in the US market during the quarter, including launching in Illinois, Michigan and Mississippi. The provider is already active in Indiana, Iowa, New Hampshire, New Jersey, New York, Pennsylvania and West Virginia.
Up to mid-March, Kambi’s average daily operator turnover was 47% up on the same period in 2019 and 7% better than Q4 2019.
The suspension of sport globally is expected to have a major impact on Kambi’s figures for the next quarter, said CEO Kristian Nylén: “The coronavirus pandemic is having a major impact on people’s lives and livelihoods and represents a global challenge of the like we have never faced before. Industries of all kinds have been affected and interrupted, with our own sports betting industry no exception.”
“The sports calendar has been stripped bare across the world, with major leagues and events being cancelled or postponed, quite rightly, until safety can be guaranteed. And while I have no doubt sports will return, the current situation has understandably led to a reduction in our revenues, although our teams have done a wonderful job to stem the flow and ensure our partners have a good product to sell,” he added.
“We owe it to our all our employees, partners and investors to ensure we are in the strongest position possible to pick up where we left off when sports do resume, and we enter what promises to be a prolonged period of busy sporting action. I’m confident the cost-saving measures we’ve introduced in recent weeks, our strong balance sheet, and the flexibility we have retained to be back running at 100% capacity almost immediately, will ensure we are able to do so, alongside our fantastic partners.”
“There are positive signs some leagues and tours may resume before or during the summer, albeit behind closed doors, and when they do, we’ll be ready,” Nylén concluded.
Source: GMB
