Betting supplier Kambi published its report for the second quarter of 2022 with turnover increased by 16%, when adjusting for the migration of DraftKings, leading to revenue of €34.7 million. It also informed a strong financial performance against demanding 2021 comparatives, with numerous headwinds including the Netherlands impact, the seasonality effect of the quiet sporting calendar and the DraftKings migration.
When asked during the conference call about the current situation in Latin America, and special in Brazil, Kambi’s CEO Kristian Nylén explained: “It is a region we look at it very positively. We have a very, very strong position in Colombia. We have partners in Peru and in Argentina already and we keep on, yes, looking at more and more partners in Latin America.”
“But I think the big thing that is a big focus for us now is to find the suitable partners for the opening of Brazil,” he added.
In its Q2 report, Kambi detailed the situation of the market in Brazil: “It was recently confirmed that no moves to initiate regulation will be made before the election in October 2022. However, given that the original implementing statute requires market launch by December 2022, there is hope that any incoming regulation will try to launch as close to this date as possible.”
And by giving more details about Kambi's plans and possibilities in the country, the company leaves no doubts in its report: “Once launched, Brazil will be among the top five largest regulated markets in the world and Kambi’s ongoing expansion across the region, as well as a strong soccer product, leaves it well positioned to enter the market.”
Source: GMB
