Kambi Group’s Q2 Report
Kambi Group, a leading sports betting company, has reported a decline in revenue and profits for the second quarter of 2025. The company’s revenue decreased by 11.5% year-on-year, with profits dropping from €6.2 million to €1.6 million.
Disappointing Results
Werner Becher, CEO of Kambi Group, expressed disappointment with the results, stating that his ambition for the business is far greater. Despite this, he noted that the first half of the year played out broadly as expected. The company’s revenue for the second quarter totalled €40.5 million, down from €45.7 million in Q2 last year.
Challenges and Comparisons
The decline in revenue can be attributed to tough comparisons with 2024, which included a €4.5 million payment from PENN Entertainment as the company ended their partnership. Even with this taken into consideration, revenue still declined by 2%. For the first half of 2025, revenues were €81.9 million, a decrease of 7.9% from last year. However, excluding €8.9m of transition fees received in H1 2024, revenues increased by 2.3%.
Industry Dynamics
Becher noted that the quarter reflected both the resilience of the business and the evolving dynamics of the industry. Challenging market conditions and tough comparisons with Q2 2024 contributed to the decline in revenue. Foreign exchange movements and regulatory and tax headwinds, such as deposit limits in the Netherlands and Colombia’s VAT, also affected performance.
Growth Areas
Despite the disappointing results, Becher remains optimistic about the company’s future growth. He cited Kambi’s esports betting site as an area of growth, with the company’s esports betting product becoming an increasingly important part of its product offering. The product, powered by Abios division, is proving its worth and becoming a unique selling point for the company.
New Partnerships
Kambi has signed a deal with Latin American operator RedCap to expand its presence in the region. The deal will see RedCap launch its Betpro and Starplay brands online in Panama and El Salvador, with scope to expand into retail and additional markets in the future. The company has also extended its partnership with LeoVegas through a new two-year Turnkey Sportsbook agreement.
Conclusion
In conclusion, while Kambi Group’s Q2 report showed a decline in revenue and profits, the company remains optimistic about its future growth. With its esports betting site and new partnerships, Kambi is positioning itself for long-term, sustainable growth. Becher’s ambition for the business is high, and he is hopeful that the company can deliver value for its partners and expand its network in the latter part of the year. Despite the challenges posed by the external environment, Kambi Group is confident that it can achieve its goals and become a leading player in the sports betting industry.
