Sports betting provider Kambi saw an 11% drop in its third-quarter revenue, reporting total revenue of €36.7 million ($36.7 million) for the period.

Operating profit dropped sharply to €3.9m, with cash flow also citing a traditionally “challenging” period for sports betting given the “calm” sporting calendar – especially in Europe and the US.

However, among its Q3 highlights, the supplier highlighted a 12% increase in revenue – driven by new market launches and partnerships.

Kambi also highlighted its acquisition of Shape Games – “front end specialist”. Since Q3, the vendor has partnered with Apollo Global Management, also signing the terms of a termination agreement with operator Penn Entertainment (which previously announced it would move to its own proprietary platform).

The organization’s total revenue in Q3 was also higher than Q2 (€34.7 million), with the yoy percentage decline also smaller (Kambi saw revenue drop 19% in Q2).

Kambi CEO Kristian Nylén said: “The third quarter is always the most challenging for the sports betting industry given the calm sporting calendar and this year was no exception. of life higher”.

“Despite this, Kambi has once again proven its resilience and I am pleased to report another busy quarter for the company with a 12% growth in turnover,” added Nylén.

About Kambi

Kambi is a leading provider of premium sports betting technology and services to the global betting and gaming industry. Today, the company has headquarters in Malta and offices in Australia, the Philippines, Romania, Sweden, the United Kingdom and the United States.

Trusted partner of more than 25 operators on six continents, Kambi not only offers a first-class betting experience, but also encourages innovation in the industry due to its data-based betting core and state-of-the-art technology.