An increased mix of parlays and overall higher hold helped Kambi quarterly revenue jump 24% in the second quarter. Kambi’s sports betting partners reported a blended 9.9% operator gross revenue hold for the quarter, which CEO Kristian Nylén said dampened overall handle growth to 4% on the Q2 2023 earnings call.
That hold is up from 8.6% last year and above the 12-month rolling average of 8.8%. Favorable basketball and soccer results also contributed to the growth.
The B2B sportsbook platform supplier’s stock rose 2.37% Wednesday in Stockholm on nearly 3.5 times average volume.
Bally’s is the kind of high-level operator Kambi has wanted to get back on its books, Nylén said.
