Kambi Reports Significant Gains in Q2 With a Focus on Tech
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00:00As we move ahead to Camby, who, of course, they don't need to be involved in taking any
00:07money as sports betting operators, but they certainly have had a big footprint in the
00:11operators themselves and running some of the tech for it.
00:14Really good second quarter, Sam, for Camby.
00:17I mean, this is a company we've talked about on the show for several years.
00:20It seems like their success continues to grow.
00:23Yeah.
00:24Camby is a really interesting case in the sports betting landscape.
00:27They basically outsource their tech to sports books that don't have their own tech or haven't
00:32built out their own tech.
00:33It's been a big trend lately in America for companies like DraftKings, Penn, that was
00:38Barstool, now ESPN Bet, to move off of Camby and onto their own tech.
00:42We've seen kind of how hard that can be for some to maintain a competitive product.
00:46But good news for Camby here with revenue up 6.5% year over year as they report second
00:52quarter earnings and profit up 67% as well.
00:55The really interesting thing, I think, within all that is how well they did with international
01:00soccer, which they still have a ton of customers in Europe and across the world.
01:04So a lot of their business is tied to how well they do there.
01:07They had a 20% increase in betting volume this quarter, which is basically the handle.
01:12It's what the Europeans call a handle.
01:14So that means, you know, they were taking more bets than ever on a super popular sport.
01:18And with that, they also posted a record hold of 10.3%.
01:22That's essentially what the sports books keep, which is the best ever.
01:26So it was really a great quarter.
01:28Thanks a lot to the Euros and Copa America, but also Camby's product has developed a lot.
01:33They were really vocal about this being kind of a test period for their new AI trading
01:37platform, and we're seeing it pay dividends.
01:40So as we expand to football later in the fall, maybe this is a good sign that that'll all
01:45roll over.
01:46It's going to be really interesting to see how these business-to-business providers survive
01:50now in this new sports betting landscape.