Kambi Group provides information. 15% decrease in revenue in the first quarter of 2022

Operating profit was €7.3 million, a 61% decrease from the previous year, and profit after taxes was €5.4 million, a 64% decrease. There was a 67% reduction in cash flow from operating and investing operations to €5.5m, and a 63% decline in earnings per share to €0.178.

Kambi highlighted some of the period's highlights, including the renewed long-term partnership with Kindred Group through 2026, the signings of NorthStar Gaming and MaximBet to strengthen the North American partner network, and the acquisition of regulatory approval from Ontario and the subsequent launch with partners on the first day of the market opening in Q2.

"We delivered new partner signings, contract extensions, continued market expansion, and multiple product and technology advancements during the first quarter of the year," stated Kristian Nylén, CEO of Kambi Group.

After taking into account DraftKings' relocation, operator turnover increased by 25%, demonstrating the continued strength of the company's core financial performance. This rise is occurring in spite of challenging Q1 2021 comparatives and the short-term effects of regulatory obstacles in the Netherlands, which we anticipate will shortly pass.

In summary, Nylén continued, "Kambi has a bright future ahead of it, with great interest in the sportsbook and services we provide now as well as those we are creating for the future.

"I think we have just begun to scratch the surface of what is possible, as Kambi reached the milestone of 40 partners during the quarter. The scale of the Kambi network has never been greater nor more diverse."