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BRIEF-Kambi Q1 average Sportsbook margin significantly lower than expected
April 5, 2017 / 8:28 AM / 4 months ago

BRIEF-Kambi Q1 average Sportsbook margin significantly lower than expected

1 Min Read

April 5 (Reuters) - KAMBI GROUP PLC:

* SAID LATTER PART OF QUARTER RESULTED IN UNUSUALLY HIGH NUMBER OF PLAYER-FRIENDLY OUTCOMES IN MAJOR FOOTBALL LEAGUES WHICH LED TO AVERAGE SPORTSBOOK MARGIN OF 5.9 PERCENT IN Q1 2017, WHICH IS SIGNIFICANTLY LOWER THAN EXPECTATION

* AS CONSEQUENCE, KAMBI'S REVENUE FOR Q1 IS EXPECTED TO BE 14.2 MILLION EUROS ($15.2 MILLION)

* SAID THIS WILL LEAD TO EBIT BEING IN RANGE OF 1.2 MILLION - 1.4 MILLION EUROS

* SAID DOES NOT SEE ANY REASON TO ADJUST PROJECTIONS OF SPORTSBOOK MARGIN FOR LONG TERM AND BELIEVE PERIOD HAS BEEN EXCEPTION, BASED ON EXTERNAL FACTORS BEYOND ITS CONTROL

Source text for Eikon:

Further company coverage: ($1 = 0.9369 euros) (Gdynia Newsroom)

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