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Kambi Group’s second quarter 2016 results

KAMBI SUCCESS STORY CONTINUES

Impressive growth in revenue and operating profits.

Aided by new client wins, sports betting provider Kambi Group’s second quarter 2016 results highlight the continued success of the business following a successful Euro 2016.

The Swedish firm reported key performance highlights for the three month period ending June 30 that include:

-    Revenue of Euro 13.7 million (Q2/2015: Euro 10.7 million), up 28 percent.

-    Operating profit (EBIT) amounting to Euro 2 million (Q2/2015: Euro 800,000).

-    Profit after tax was Euro 1.8 million (Q2/2015: Euro 500,000).

-    Operating margin of 14 percent (Q2/2015: 7 percent).

“Investment in people and technology will continue as we work on building our service and network of operators to drive growth,” Kristian Nylén, chief executive officer of Kambi said.  “We are very well positioned as the premier supplier of managed sports betting services.”

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Gambling News :

Karaoke parlour Gambling Ring Busted - The Cambodia Daily newspaper reports that police in Poipet have shut down an online gambling company being run out of a karaoke parlour, and have interrogated 63 Chinese nationals associated with the enterprise.

Law Firm Says Gambling Legalisation can Help Macau - The paper goes on to reveal that legislation to legalize online gambling more generally was prepared several years ago but not submitted to the Legislature.

GVC In Content Deal With Microgaming’s Quickfire - Microgaming-powered Prima Networks Limited will supply over 50 new titles to GVC’s recently acquired bwin Casino, PartyCasino and Party Poker gaming sites within the coming weeks.

Opap in memorandum of understanding With Inspired - Virtual sports provider Inspired has entered into a memorandum of understanding (MOU) with Greek betting and lottery operator OPAP for the supply of its full suite of virtual sports, for integration online and across OPAP's retail network.

DeltaCorp To Acquire ace2three - Our readers will recall Delta Corp. acquired a 26 percent stake in Gaussian Networks, parent company of India’s largest online poker operator Adda52 earlier this month

More Australian POC Taxes - In an interview with The Australian, Tabcorp chief executive offer David Attenborough warned “global rivals” of his belief that other Australian states are moving fast to follow South Australia’s lead in implementing a point of consumption tax.

William Hill Exits Russia - "Starting from September 23 William Hill Casino Club will terminate its activities in the Russian territory for legislatory reasons. All active customer accounts will be suspended," the advisory reportedly detailed.

Pennsylvania Online Gambling Hearing Postponed till October - HR 2150, which includes DFS and e-gaming elements, was passed as part of the critical state budget bill by the House in June this year, with lawmakers expecting the bill to contribute $100 million annually in licensing and fees to help balance the state budget.

Two Mega Fortune Dreams Jackpots Hit - Both Swedish players, the first lucky punter hit a GBP 100,000 jackpot playing on his mobile phone, while the second, identified as Martin, staked just 18p before netting a GBP 60,000 jackpot on the popular series thinking he was playing in demo-mode.

ASA Looking at Ladbrokes and Netbet ads - A TV ad for Cosmo Gaming’s NetBet online casino was determined by the UK Advertising Standards Authority (ASA) as glamorising online gambling following a single complaint.

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