Kambi Sports Betting
The majority of the proceeds will be used to repay, with interest, a £1.2m (€1.3m/$1.6m) interest-bearing loan provided to Nylén by a subsidiary of Kambi in order to exercise options in March 2020.
We caught up with Kambi Group at G2E in Las Vegas and talked with Max Bichsel, who gave us his projections on the future of the gaming and sports betting ind.
The loan was used to pay the option price and income tax due on the exercise of 300,000 share options issued to the chief executive in 2013.
He remains a major long-term shareholder in the supplier, and owns 720,000 shares or 2.3% of the company, following the transaction.
- Kambi, a top sports betting supplier in the US has announced a week-long content series in mid-March dubbed the Kambi Festival of Sportsbook.
- Kambi secures sportsbook deal in the Netherlands with JVH Group 4th January 2021 10:05 am GMT Stockholm-listed sports betting technology provider Kambi Group has agreed a multi-year partnership with Dutch land-based casino operator JVH Gaming & Entertainment.
Results published last week showed that Kambi expects revenue for the fourth quarter of 2020 to fall between €46.0m and €48.0m, meaning full-year revenue could rise 27.6% to €117.8m, despite the suspension of sports for much of the year.
Revenue for the quarter was up around 76% year-on-year, however expenses also rose to between €24.0m and €25.0m. The supplier said this was mostly due to the higher costs of stock options caused by the strong performance of Kambi shares.
Kambi’s share price increased 34.3% during Q4, ending the year at SEK393.4 (£35/€39/$48) per share. Full-year earnings before interest and tax is expected to be between €31.0m and €34.0m
Former Unibet entity Kambi has gone from strength to strength since spinning off from its fellow Stockholm based partner (a behemoth of a sportsbook in its own right) back in 2014 and the performance of it as a business can be well documented.
Kambikuttan
Growing from a headcount of just 80 to well over 500 people, this growth is in no small part due to a board with a clear direction and vision as to what the future would hold. The company provides online and land based technology solutions to a range of clients across the globe.
Now Kambi boasts some of the biggest names as clients in the sports betting world, providing its software services to the likes of 32Red (a Unibet brand), while Leo Vegas is also counted among its esteemed clientele.
Considered a leader in providing premium sports betting technology services with its customer very much at the heart of everything they do, Kambi are well versed in this industry and its long affiliation with Unibet, helps them to stand out from the crowd.
Also renowned for being somewhat of a laboratory for innovation, the company’s deep pockets allow for vast amounts to be invested into research and development of new, cutting edge technologies, while their forward thinking approach has won Kambi a lot of respect in the industry.
New Kambi Betting Sites
Kambi US Domination Plans
While Kambi are already in numerous regions around the world, their recent move to America has paid dividends since they opened up across the Atlantic in early 2019 with them winning the award of ‘America’s Number One Sportsbook Provider’ at the EGR North America Awards, with judges clearly impressed.
“Kambi has a very good track record of platform scalability and tech integration,” judges said. “The company has demonstrated how it can scale operations for major brands and integrate new brands on the back of a growing reputation.”
“Kambi’s clients are running 60% of New Jersey’s handle, so picking up so many clients speaks to the company’s commercial success,” judges continued. “It is arguably the most successful sports betting supplier to capture market share in the US.”
Meanwhile, Max Meltzer, Kambi Chief Commercial Officer, said of the awards: “Kambi succeeds when our partners succeed and recognition from the EGR judges, in the shape of these two awards, is a reflection of the fantastic growth our partners have displayed since that historic first bet last August.
“In providing exciting and relevant sports wagering experiences, along with flexible and empowering online and on-property technology, our partners are given the freedom they need to execute on their unique strategies and take their own path to market leadership,” he continued.
Kambi Usa
Kambi Group
“Coupled with an unwavering commitment to integrity and corporate probity, which has seen us develop strong and trusting relationships with local regulators, Kambi’s partners operate with confidence, safe in the knowledge they are receiving an ultra-reliable and high-quality sportsbook service.”