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Kambi Provides Q1 Updates and Measures to Strengthen its Financial Position in Light of COVID-19 Impact
Kambi Group has announced a series of cost saving measures to strengthen its financial platform and increase its ability to withstand the impacts of the COVID-19 outbreak.
Despite the impact of COVID-19 on the sporting calendar in the last two weeks of the first quarter, Q1 revenue was strong and is expected to be in the range of €27.5–28.0m. Opex is expected to be €21.0–21.5m, giving EBIT of €6.0–7.0m. The cash balance at the end of the quarter was in the range of €45–47m.
The sporting calendar has been severely impacted by COVID-19 since mid-March. In the last three weeks, revenue from sporting activities was in the range of 25–30% of those in Q4 2019.
The cost saving programme will result in savings across the whole business, including significantly reduced travel and marketing costs, a freeze on staff recruitment and a substantial reduction in data costs associated with fewer sporting events.
Kambi has also decided to apply for the financial support packages recently announced by the Swedish and UK governments, both of which are designed to protect jobs. Furthermore, with effect from 1 April 2020, Kambi Board members, the CEO and Executive Management have agreed to salary deferrals of 20%, 15% and 10% respectively.
Based on these savings and several smaller initiatives, operating expenditure in Q2 2020 is anticipated to be in the range of 10–20% lower than in Q4 2019. The cost saving package will also result in associated savings in capitalised development costs of 20–30% compared to Q4.
“Kambi is conscious of its duty to protect the company, its staff, partners and investors at all times, but particularly during a period of such uncertainty. The cost saving measures we are announcing today enable us to do just that for a significant period of time,” Kristian Nylén, CEO of Kambi, said.
“Kambi is a technology company powered by skilled and experienced people, all of whom have helped establish Kambi as the global market leader, and who will be pivotal to us pushing on further in the coming years. Therefore, it is in Kambi’s long-term interests to retain these staff while also reducing our costs, including payroll, and I firmly believe we have found the right balance in order to achieve this goal. When sports resume, we are ready to gear up to normal activity immediately, and in the meantime, we are being creative and agile in order to offer a high-quality and compliant service to our partners and their end users,” Kristian Nylén added.
Carl Gatt Baldacchino Head of Account Management SlotMatrix
High-Voltage Reels: SlotMatrix Debuts Salty Sam’s Rage Bait
SlotMatrix, the premier casino content aggregator globally, is enhancing its unique portfolio by introducing Salty Sam’s Rage Bait, an energetic fishing experience that merges character-focused gameplay with dynamic Spin & Win features.
Situated in the chaotic waters overseen by fisherman Salty Sam, the game invites players to throw their lines over colorful reels filled with Wilds and Bonus icons. Each Wild that appears intensifies Sam’s fury, bringing him nearer to exploding with rage, activating the Spin & Win feature.
The core game offers thrilling speed, while hitting three, four, or five Bonus symbols triggers the Free Spins Bonus, granting eight, ten, or twelve complimentary spins. In this mode, extra Wilds fill the reels, enhancing the likelihood of triggering the Spin & Win feature and forming powerful combinations.
The Spin & Win function includes fish multipliers and bait symbols that work together to enhance nearby values via dynamic chain reactions. Multipliers can increase significantly, resetting spins and revealing substantial possibilities as the grid becomes populated with enhanced symbols.
Available solely via SlotMatrix, Salty Sam’s Rage Bait features EveryMatrix’s unique gamification features, such as leaderboards and free spins, and can be effortlessly incorporated with EngageSuite, the comprehensive player loyalty system.
Carl Gatt Baldacchino, Head of Account Management, SlotMatrix, said: “Salty Sam’s Rage Bait is a highly entertaining title and a strong addition for operators looking to keep engagement high. I’m confident it will be especially popular with players who are fans of fast paced, all action content.”
The post High-Voltage Reels: SlotMatrix Debuts Salty Sam’s Rage Bait appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
James Jelliffe Head of Slots at Stakelogic
Stakelogic reinvents vintage slot thrills with Mega Fortune’s Hold ’n’ Win twist
From fruit to wealth, traditional slot icons reappear alongside Coin collections and bonus elements.
Stakelogic has broadened its slot collection with the launch of Mega Fortune, a Hold ’n’ Win game that embraces traditional slot design while incorporating bonus features to maintain the momentum from one spin to the next.
Set on a traditional 5×4 grid featuring 20 paylines, Mega Fortune combines fruit, BARs, and sevens symbols with Gold and Silver Coins that are central to the game’s winning possibilities. The game has an RTP of as high as 96.03% and a top multiplier of x1,000.
Coin symbols enhance the primary experience, showcasing fixed values of up to 25 times the total wager and replacing each other to assist in forming winning combinations. The Hold ’n’ Win Bonus activates when five or more Coins appear anywhere on the reels during a single spin. In the feature, Coin symbols become固定不变, enabling wins to accumulate as more Coin values are gathered and summed to the total.
Aside from the bonus round, the game features the Sevens Sweep mechanic, in which a Red 7 Chest symbol can gather visible Coin values from the reels, generating chances for quicker win accumulation and maintaining excitement even when not in the Hold ’n’ Win feature.
For those wanting to speed up the gameplay, Mega Fortune features a Buy Bonus option, granting instant access to the Hold ’n’ Win feature, along with Super Stake
, which increases the likelihood of activating Free Spins for half of the wager.
James Jelliffe, Head of Slots at Stakelogic, said: “Mega Fortune is a game that players who appreciate our classic slot catalogue will enjoy and we have enough new gameplay features involved to keep the game rewarding. The core mechanics, multipliers and collection lock in with the Hold n Win bonus and make this game a winner for both old and new players.”
The post Stakelogic reinvents vintage slot thrills with Mega Fortune’s Hold ’n’ Win twist appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
Konami Gaming Inc. has appointed Deron Hunsberger as its vice president, North American game sales, bringing a 25-year track record of customer partnership and business results. In this role, he is responsible for developing and executing strategic sales initiatives in land-based casino games markets across the US and Canada. Formerly appointed director of slot sales from 2000 to 2006, Deron Hunsberger returns to Konami Gaming with a significant prior term as one of the organization’s earliest employees.
“Deron Hunsberger’s demonstrated customer commitment, solutions-driven approach, and passion for continuous improvement algin with our organization’s enduring values and key objectives. Hunsberger’s prior experience with Konami further positions him for success in this role, leading an incredibly talented and dedicated team of representatives serving casinos from coast-to-coast,” said Tom Jingoli, president & chief operating officer at Konami Gaming Inc.
The post Konami Gaming Appoints Deron Hunsberger as Vice President, North American Game Sales appeared first on Americas iGaming & Sports Betting News.
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