Kambi releases annual report for 2022 highlighting all-time-high revenue, record new partner signings

Sports betting services provider Kambi Group has shared its 2022 Annual Report and Accounts, “showcasing a landmark year for the business as it redefines what’s possible in sports betting entertainment.”

The provider saw a successful year in 2022, with several key highlights worth mentioning. The company achieved a total of €166 million ($181.8 million) in revenue; the number represents a 2% increase over the previous year. Additionally, 94% of the revenue generated by Kambi came from locally regulated markets, indicating the company’s strong presence in these regions.

Another notable achievement for Kambi in 2022 was the record number of new partner signings. During the year, the company signed agreements with nine new operators. Additionally, the company saw over 60 partner launches completed, including over 30 in the United States alone.

In February, the company entered into a new agreement to run until the end of 2026 with Kindred Group. Meanwhile, in June, the provider signed a contract extension with Greenwood Gaming and Entertainment, owner, and operator of online casino and sportsbook brand betPARX and Pennsylvania’s largest casino gaming complex, Parx Casino

“Looking back on the progress we made in 2022, I feel nothing but excitement and optimism for what Kambi has the potential to achieve as leader in a growing market,” stated Chair Lars Stugemo. “We are now in full control of our destiny following the agreement we signed with Kindred last year and we go into 2023 and beyond full of confidence for the future. As industry innovators with a track record of success, we have never been better placed to redefine the sportsbook product of tomorrow.” 

Kambi also launched pioneering 3rd Gen trading ahead of the World Cup. Lastly, in September, the company acquired Shape Games, a native front-end technology provider, which helped the company enhance its technology capabilities and improve its overall offering to customers.

Kristian Nylén

In 2022, we made fantastic progress across the company, and I believe the best is yet to come as we redefine what’s possible and build towards our long-term goals,” said Kristian Nylén, Kambi CEO and Co-founder. “The year 2023 has already started in a positive fashion, not least the extension we signed with Rush Street Interactive.”

In 2022, Kambi pioneered the third generation of sports trading and acquired front-end specialists Shape Games, while its financial and commercial momentum continued with all-time-high revenue and a record number of new partner signings,” the company summarized the year.

You can read Kambi Group’s full Annual report here.