Sports betting technology supplier Kambi has projected potential revenue figures of up to €600m (£513m/$718m) by 2026, as revealed in its virtual Capital Markets Day presentation.
The betting supplier said that “if all its assumptions materialise”, Kambi estimates achieving such a figure in an addressable market it believes could be worth €63bn in five years time.
It said that if so, its revenue could fall between €400m and €600m.
In its latest financial results, Kambi recorded a 55% Q1 revenue increase to €43.2m owed to the continued growth of the US market and a more congested sporting calendar.
Kambi co-founder and CEO Kristian Nylén said: “Kambi has demonstrated strong growth consistently over a long period of time, yet we are only at the start of our exciting journey, with many fantastic opportunities awaiting us.
“Having established ourselves as the global industry’s trusted sports betting partner, we more than anyone know what it takes to capitalise on the rapidly increasing total addressable market.”
The potential growth comes despite DraftKings, Kambi’s largest client, currently working on its migration away from the Sweden-based supplier’s technology and onto the platform of SBTech, which it acquired last year. The migration is set to be completed in the next quarter.
In addition, Kambi’s recent share buyback scheme was approved during the company’s extraordinary general meeting.
