Kambi Q2 results boost confidence in AI trading

Kambi Group has reported strong results across the board for its second quarter in 2023 and the first half of the year. Revenue for the three months in Q2 stood at €42.9m and first-half results stood at €86.9m. Both figures cited in the group’s report were a net gain on the results reported over the same period last year, putting Kambi Group well ahead.

Among the key highlights the company had to report during the second quarter was the acquisition of Shape Games, which resulted in a direct increase in company revenue which surged by 24% year-over-year and is likely to retain this momentum.

The group confirmed that it has been making significant strides in AI pricing with a dedicated division now described as the next step for the future of sports betting in general. Kambi Group is determined to leverage this division to elicit even strong results in the long run and continue to consolidate its financial foothold.

Commenting on these new opportunities, the company released a statement in which it said that AI-powered training grants powerful benefits to partners and that operators that utilize Kambi’s solutions are increasingly aware of this. Tellingly, Kambi Group was able to bring Bally’s Corporation into its network of partners, powering the latter with advanced sports betting solutions, and further consolidating Kambi’s own leadership position as a supplier of cutting-edge tech for sports betting companies.

The AI service can also one day be leveraged as a separate module and be extended to companies that are not necessarily part of the Kambi network but want to benefit from the group’s powerful trading capabilities.

Speaking of partnerships, Kambi Group similarly managed to extend its existing relationships with BetPlay, LeoVegas Group, and Paf, once again demonstrating the company’s staying power with the world’s elite in sports betting. Foreign exchange headwinds did impact the company a little and made it post a slightly lower operator turnover growth than expected, but this is all to be expected.

Kambi recently won Sports Betting Supplier of the Year at the EGR B2B Awards 2023, once again reaffirming the company’s dedication to building a stable and reliable platform for the future.

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