The global sports betting provider, Kambi Group published its financial report for last year, revealing that its revenue grew 28% and its operating margin increased 27%.
“Summarizing a year like 2020 is not easy. As in previous crises, COVID-19 was and will be an important catalyst for change. As our business is predominantly online, with our partners we are well positioned to accompany this transformation ”, said Lars Stugemo, the Chairman of the Board of Directors.
Stugemo further commented: “If someone had told me that 2020 would be a record financial year for Kambi, I would not have believed it. I congratulate all partners and our employees who have adapted and excelled in such challenging circumstances ”.
According to the Chairman of the Board of Directors, the company’s positioning as a reliable partner for sports betting operators has been strengthened in the last year. “Despite the temporary suspensions of sporting events worldwide, Kambi has managed to demonstrate its strength and the ability to adjust to any situation”.
Kambi’s positive result in 2020 was leveraged by business in the US and Europe
Kambi’s CEO Kristian Nylén also spoke officially about the performance last year. “Despite the restrictions in 2020, Kambi presented its most impressive financial performance to date. Revenue increased by 28% and the sales volume of operators increased by 38% ”, he revealed.
The expansion of the North American market significantly leveraged business expansion and the company is already in 14 states. In addition, the group has advanced in Europe and the extension of the contract with LeoVegas has become a milestone. The company also closed important deals in the Netherlands.
“Promising developments in Latin America and Canada allow us to project the year 2021 with great growth potential. In addition, more and more operators are believing in our capacity ”, concluded Nylén.
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