Kambi has lauded the significant steps made in the US during the almost 12 months of legalised sports betting, as the company published its latest quarterly report.
Significant steps made thus far have been deepened during 2019’s first three months, with the company now powering five of the eight sportsbooks now live in the state of Pennsylvania.
This is due to recent manoeuvres made alongside Greenwood Gaming and Entertainment, alongside which saw launches at Parx Casino and South Philadelphia Turf Club were added to with a third at it’s Valley Forge Turf Club.
Furthermore, recent figures posted by state regulator the Pennsylvania Gaming Control Board showed that Kambi customers generated more than 82 per cent of Pennsylvania’s sports betting revenue.
An important step was also made by the Malta-headquartered firm in Connecticut, as Kambi has group revenue increased 28 per cent for Q1 to €21m (2018: €16.4m), with operating profit also rising 12.7 per cent to €2.6m (€2m).
Mohegan Gaming and Entertainment was added to the roster, with online and on-property offerings set to be installed at its flagship Mohegan Sun property, ahead of potential legislation within the state.
Kristian Nylén, Kambi chief executive officer, explained: “We signed two new customers in Q1 – one based in the US and one in Europe. We outlined the signing of Rhinoceros Operations, which operates the Germany-facing Mybet brand, in our Q4 report. I’m glad to say Mybet has already launched on the Kambi Sportsbook platform.
“Towards the end of Q1, we signed Mohegan Gaming and Entertainment, the owner of Mohegan Sun, not just one of the largest entertainment resorts in the state of Connecticut, but one consistently rated among the finest in the US.
“MGE is a fantastic signing for us. As well as its size and stature, MGE is Kambi’s first Native American customer and, we hope, the first of many. There are approximately 500 Native American casinos in the US, generating around 40 per cent of the country’s casino gaming revenue, and for Kambi to be trusted to supply one of the largest Native American casinos is testament to the reputation and trust we have built since entering the US.”
