Kambi loses €3m in pandemic Q2, sets date for DraftKings divorce

Sports betting technology supplier Kambi Group lost €3m in the pandemic-plagued second quarter of 2020.

On Friday, Kambi reported revenue of €14.8m in the three months ending June 30, a nearly one-third decline from the same period last year. The company booked an operating loss of €3.4m and an after-tax loss of €3m versus a €1.6m profit in Q2 2019.

Kambi CEO Kristian Nylén said the mass cancellation of sports leading into Q2 was a “testing” period for the company but turnover began to accelerate as major leagues resumed play, leading to year-on-year operator turnover and revenue growth in the month of June.

The English Premier League’s restart fueled June’s rise, as the new staggered kick-off times led to greater media focus on each game, which in turn boosted betting turnover by around one-third from EPL games in Q1 2020.