Kambi Group Delivers Impressive 2022 Financial Results
The sports betting technology and solutions supplier had a successful start to its ambitious five-year plan
Kambi’s Q4 2022 report reveals growth across all key verticals after the hugely successful World Cup. Solid financials, many new partnerships, and expanding growth opportunities provide the company with a solid jump-off point to tackle 2023’s challenges and take the first steps towards its goal of €50 billion gross gaming revenue (GGR) by 2027.
The Supplier Seized Many Expansion Opportunities
A busy US sporting calendar and significant market expansion were the primary driving factors behind Kambi’s impressive 2022 performance. The supplier recorded Q4 revenues of €57.8 million for Q4. The World Cup substantially boosted Kambi’s profits during the last quarter, resulting in a 30% growth. Overall, the company made €166.0 million in 2022 thanks to platform stability and leading offerings for partners.
The year finished with a flourish with the business delivering across several key areas, providing the perfect springboard into 2023.
Kambi Group plc Q4 Report 2022
Kambi’s cutting-edge solutions continue to draw in operators as the company expands its growing number of partners. Some of 2022’s highlights include the deal with Rei do Pitaco, Brazil’s leading fantasy sports operator, and the extended agreement with Rush Street Interactive. Day one launches in Massachusetts and Ohio, and a new contract with del Lago Resort & Casino New York cemented Kambi’s position in North America.
Kambi Continues to Pursue Its Long-Term Objectives
With another successful year behind it, Kambi group has already set its sights on the future. The supplier recently shared its ambitious five-year plan, estimating that its global addressable market could reach €50 billion in gross gaming revenue (GGR) by 2027. Kambi’s projections rely on its innovative product strategy and ability to secure partnerships during the unprecedented worldwide sports betting growth.
The company puts great hopes in its third-gen algorithmic trading capability, which exceeded expectations during the World Cup, helping Kambi present players with more betting opportunities quickly and cost-efficiently. The technology will form the cornerstone of the company’s expansion plans and help it stay ahead of the competition, delivering an even better product with more betting opportunities.
The global economic outlook might be uncertain, but we have a proven, robust business, one which is ready to meet any challenges that lie ahead.
Kambi Group plc Q4 Report 2022
Kambi’s 2022 achievements place it in a fantastic position to achieve its planned objectives. Super Bowl LVII proved the viability of its latest solutions and elicited an overwhelmingly positive response from gamblers. With a clear plan for 2023 and beyond, Kambi continues to steadily pursue its financial targets, relying on its engaging products and rising reputation.
Deyan is an experienced writer, analyst, and seeker of forbidden lore. He has approximate knowledge about many things, which he is always willing to apply when researching and preparing his articles. With a degree in Copy-editing and Proofreading, Deyan is able to ensure that his work writing for GamblingNews is always up to scratch.
