Supplier Kambi increased its Q1 revenue by 55% to €43.2m ($52.2m), up from Q1 2020’s €27.9m.
The 55% growth was at an operator trading margin of 8.5% and the operator turnover index exceeded 1,000 for the first time.
Last year, Kambi only reported a profit of €4.8m; this year, however, the profit after tax climbed to €15.1m and the earnings per share were also up to €0.487.
Operating profit (EBIT) increased year-on-year by 173% to €18.7m and at a margin of 43.2%, while cash flow from operating and investing activities amounted to €16.5m for the first quarter of 2021.
During this quarter, Kambi expanded in the US after launching in Michigan, Illinois, Virginia and Arkansas, which means the company now operates in 14 different states.
The supplier also announced partnerships with Racing & Wagering Western Australian and Casino Magic, while extending its partnership with Napoleon Sports & Casino.
CEO of Kambi, Kristian Nylén, said: “I’m pleased to report the exceptional performance we produced during the latter part of last year has continued into 2021, with significant growth across a range of KPIs including operator turnover, revenue and operating margin. We also continued our impressive commercial momentum with new partner signings and extensions in key target markets.
“This strong performance was driven by a busy sporting calendar, including the end of the NFL season and the March Madness college basketball tournament.”