Kambi Group reported revenue of €34.7 million in the second quarter of 2022, down 19% from the second quarter of last year.
EBITDA decreased by 47% year-on-year to €11.6 million, while operating income for the period shrank by 70% to €4.9 million, with a margin of 14%. Earnings per share for the second quarter of 2022 were €0.109, while cash flow for the period stood at €0.1 million.
The company did, however, point to many highlights for the second quarter of this year, including an online deal with Mohegan Gaming & Entertainment and its Fallsview Casino brand in Ontario, Canada, an extended contract with Greenwood Gaming and Entertainment, and going live on the first quarter. day in Canada and launches in the United States and Mexico, among other milestones.
CEO evaluates Kambi’s strategic performance in the period
“In the second quarter, Kambi saw another positive period, with healthy underlying growth and operator turnover up 16% as we adjust for the DraftKings migration,” said Kambi CEO Kristian Nylén.
“This performance was achieved despite a more relaxed sports calendar than usual, especially with the Football World Cup taking place at the end of the year, out of the ordinary in the second quarter,” he added.
As the CEO of Kambi: “We also signed a partnership with Mohegan Gaming & Entertainment, launched in Canada and Mexico, and announced an extension of our contract with US multi-state operator BetParx, while making significant strategic progress.” .
In Nylén’s view, this is a very important phase for the company. “This is an exciting time for Kambi. The product journey we are on today, coupled with our healthy balance sheet and positive financial performance, means we are on a solid foundation for the future.”
“We were delighted to see Kindred relaunch in the Netherlands recently and with more product launches, partner announcements and a World Cup to come, I look forward to an even better second half.”
