Annual Report and Accounts

Kambi completes over 50 launches with US sportsbook operators in 2021

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Sports betting partner Kambi Group announced Wednesday the release of its 2021 Annual Report and Accounts, for the period ended last December. 

Overall, Kambi perceived a 38% increase in revenue, which led to an all-time high of €162.4 million ($181 million), with operator turnover up 40%.  EBITDA for the full year 2021 was €79.2 million ($88.3 million).

The company also saw 77% growth in operating profit, thus strengthening Kambi’s net cash position, which now stands at €72.3 million ($80.6 million).

During the year, there have been 8 new operator signings, bringing Kambi’s global network to 40 partners. The brand also completed more than 70 partner launches, including over 50 in the US alone. 

One of the most significant milestones in 2021 was the acquisition of esports data, odds and content provider, Abios, which took place in August 2021. The group acquired 100% of the shares and voting rights in Abios gaming AB, a global B2B provider of esports products and services. For the 4 months ended December 31, 2021, Abios contributed revenue of €666,000 ($742,000) and profit of €121,000 ($134,931) to the group’s results. 

In an official press release, Lars Stugemo, chairman of Kambi Group plc, spoke about these results and said: “When reflecting on the year, I feel proud to see just how far Kambi has come since spinning out of what is now the Kindred Group back in 2010. Kambi is a true leader in its field, powered by unique technology and a strong and experienced team. 

“Yet as the global regulated market grows, I feel we’ve only just scratched the surface of what’s possible. Following the recent announcement regarding the Kindred Group – that Kambi now has the option to repay the convertible bond held by Kindred since the spin-off, while separately extending what continues to be an extremely successful partnership – I have even greater conviction in my belief that, with our destiny in our own hands, the Kambi growth story has only just begun.”

Kristian Nylén, CEO of the company, added: “The business is in great shape and the global opportunities ahead are exciting. I’m proud of our achievements in 2021, driven by the hard work of our employees who care passionately about delivering for our partners.”

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