MAR 11 DE MAYO DE 2021 - 08:31hs.
Quarter report

Kambi lauds resilience in handling COVID impacts

In releasing its Q2 report, Kambi Group pointed out that the pandemic, combined with the temporary closing of U.S. casinos, resulted in a “greater effect on the U.S.-facing sector of Kambi relative to other regions.” But it lauded the “resilience” of the firm in handling the COVID-19 impacts. “While much attention is on the U.S. market, Latin America also holds great potential for Kambi,” said firm’s CEO Kristian Nylén.

Revenue for the quarter was a 32% hit, dropping from €21.6 million in Q2 2019 to €14.8 million, while EBITDA fell to €3.4 million , down from € 2.5 million in the same quarter last year.

Firm’s CEO Kristian Nylén said: “After what has undoubtedly been a testing period for Kambi, as it has for everyone in our sector, I’m proud of the resilience and underlying strength we have displayed in recent months, which bodes well for our future.”

“Given the impact the pandemic is having on the sporting calendar, to generate 68% of the revenues of the comparative quarter last year is a great achievement. Furthermore, operator turnover accelerated through the period, finishing with year-on-year growth for June, which tells me we are on the right track as a business and well positioned for the second half of 2020 and beyond,” Nylén added added.

“Our ability to successfully navigate the COVID-19 crisis was underpinned by the exceptional contribution from our incredible staff around the globe, who continued to provide a fantastic service to our partners and their end users during these difficult times,” he concluded.

According to its Q2 study, the US and Central America have become a key target for Kambi as its geographic reliance on the European market has declined from 77% in Q2 2019 to 73%.

“While much attention is on the US market, the Latin American market also holds great potential for Kambi,” Nylén also mentioned.

“Although challenges remain, and an element of uncertainty persists, the past few months have proven Kambi can overcome the toughest of tests, and emerge the other side stronger for it. With sports gradually returning and our ambitious partners keen to catch up on lost time, we’re ready for an exciting second half of the year,” he concluded

Source: GMB