Ever since its establishment in 2019, KTO has been making huge strides in the gaming market of Brazil, thanks to its strategic marketing strategies, influencer partnerships, and local sponsorships.
The recent decision to exit Peru and Chile demonstrates KTO’s unwavering focus on expanding its presence in Brazil. One of the key elements in this expansion strategy is the collaboration with Kambi, a renowned technology provider in the industry.
In a statement, Kambi CEO Werner Becher expressed his excitement about the partnership, saying, “Both companies share a deep passion for delivering exceptional sports betting experiences and this collaboration will enable KTO to take its sportsbook offering to the next level.”
With Kambi’s advanced technology and expertise at their disposal, KTO is well-positioned to solidify its position in Brazil, particularly as the country gears up to establish itself as one of the largest regulated sports betting markets in the world.
Despite holding the 15th position in the Brazilian market with a 1.29% share according to Blask data, KTO remains optimistic about the future. However, uncertainties loom large, with factors like the delayed regulation of the Brazilian market and the fallout from losing Penn Entertainment to proprietary technology.
2024 is expected to be a transitional year for KTO, with its revenue likely to be impacted by various external factors. This includes the extended timeline for Penn Entertainment’s migration from Kambi to their own technology, a move that was initially planned for completion in 2024 but was pushed back due to the successful mobile migration in 2023.
As KTO continues to navigate the ever-evolving gaming landscape of Brazil, the company remains committed to providing innovative and engaging experiences for its customers, guided by a vision of growth and sustainability in the competitive market.
