Kambihas withdrawn its financial goals for 2027 due to the “slower-than-expected” regulatory progress on certain key markets.
In February of last year, sports betting service provider started a review on its assumptions which formed the financial targets for 2027, first announced in January.
The targets included revenue two-to-three times greater than the FY2022 level – between EUR330m and EUR500m, as well as EBIT exceeding EUR150m.
Kambi’s Board of Directors, in reflecting on the target set by Kambi, concluded that although Kambi has made “progress in areas under its control” there have been “slower-than-expected progress towards regulatory requirements in certain key market”, which will likely cause revenue delays.
The board stated that following Werner Becher being appointed as Kambi CEO this past week, it would “focus on giving Becher its full support to execute on the long-term strategic plan and extend Kambi’s leadership as the leading sports betting provider in the world”.
The board also stated that Becher will evaluate and share the long-term targets with Kambi.
Kambi also announced recently that it would report its second-quarter financial results, April to June 2020, later this month.
