Latest News
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.
Balkans
SYNOT Group Announces New Partnership with Lutrija Bosne i Hercegovine
SYNOT Group has announced a new partnership with Lutrija Bosne i Hercegovine. Following the successful completion of all stages of the Public Call for Business Cooperation, SYNOT has been selected as an additional supplier for operations in Bosnia and Herzegovina for a period of up to five years.
“The announcement of the Public Call for the Submission of Offers for Business Cooperation represented a clear challenge for us, and we are very pleased to have succeeded. Immediately after its completion, we signed a contract with Lutrija Bosne i Hercegovine for the supply of up to 500 units of the latest gaming equipment,” said Roland Andrýsek, Sales Director of SYNOT Group.
“This is a challenge for the Lottery of BiH as well, a new partnership and an opportunity for further growth and development. SYNOT Group has excellent references and experience across many markets, and I am confident that we will achieve strong results,” said Edhem Pašukan, Director of Lutrija Bosne i Hercegovine.
Local players can soon look forward to the introduction of entirely new gaming systems, Gamifire Prime and Exclusive Games – the latest game mixes in SYNOT’s portfolio, offering dozens of engaging titles ranging from classic fruit and themed games to popular Hold & Win concepts. The delivery will also include the proven Explosive Games Premium+ systems. All game mixes will be supplied together with state-of-the-art SYNOT cabinets, including the most advanced models ST2-32, ST3-27, Eclipse FL-32, as well as the highly popular UP1-24.
“SYNOT Group has a long-standing history and a strong position in the Balkan market. This region is of strategic importance to us, and establishing cooperation with another leading state lottery in the region represents an important milestone in our expansion and confirms our commitment to delivering top-quality gaming equipment to the region,” said Roland Andrýsek, Sales Director of SYNOT Group.
The post SYNOT Group Announces New Partnership with Lutrija Bosne i Hercegovine appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
2026 FIFA World Cup
Americans Expected to Bet More Than $3B on the 2026 FIFA World Cup
A new report by Sweeps Pulse estimates American bettors will place total bets amounting to about $3.1 billion on the 2026 FIFA World Cup. This represents the most extensive single sport betting event ever conducted inside the US. The estimate also exceeds the $1.8 billion projected amount for wagers placed on the Super Bowl in 2024. Both amounts represent growth in the legal sports betting market. The 2026 football competition will be held in the US, Canada and Mexico.
Projected Betting Breakdown (2026 FIFA World Cup)
• $1.6 billion via licensed U.S. sportsbook apps
• $920 million via offshore and unlicensed platforms
• $380 million via retail sportsbook locations
• $200 million via sweepstakes and social sports formats
Why This Tournament is Different
There have been no previous World Cups where there is serious U.S. betting volume. This is due to the mobile sports betting being non existent in the U.S. for a large part of the time leading up to the 2022 FIFA World Cup in Qatar. There is now a huge difference when it comes to how mature (and big) the market is in 2026; all major players in the space are already established; they each have their own significant budgets to promote their brand(s); and users have developed four years worth of habits using the NFL, NBA, and College Sports to bet on games.
Another fact is that many of the 2026 World Cup games will be held in cities like New York, Los Angeles, Dallas, and Miami will generate much more local involvement.
The Mobile Factor
In terms of placement (mobile apps) it is estimated that 68% of all World Cup bets will be made using mobile apps. This is compared to an estimate of 41% of all bets taken in the 2018 World Cup. The sportsbooks have committed to spending an estimated $400 million on promotions related to the World Cup. These promotions include but are not limited to; Deposit Matches, Odds Boosts, Free-Bets, and other promotions targeting new soccer bettors.
Key mobile betting statistics:
• Average user session time per game is 23 minutes during major soccer events. Major soccer events average 38% longer than NFL regular season games.
• There is an expectation that live in-game betting will make up 44% of the total World Cup wagered amount.
• FanDuel and DraftKings are expected to take approximately 58% of the licensed app volumes.
The Soccer Audience is Younger and Growing
There are many factors that contribute to an increase in betting at this time. One major factor contributing to the surge in bets at this time is demographics. The data collected from surveys shows that 61% of Gen Z sports bettors have soccer as one of their top 3 wagering sports, while only 29% of bettors who are over 50 years old identify soccer as one of their top 3 wagering sports. This trend demonstrates how the demographics of the sports-betting population are changing.
The post Americans Expected to Bet More Than $3B on the 2026 FIFA World Cup appeared first on Americas iGaming & Sports Betting News.
AGLC
Alberta iGaming Corporation Appoints Dan Keene as its CEO
Dan Keene, who served as the interim CEO of the Alberta iGaming Corporation (AiGC), has been appointed to the role permanently, effective April 21, 2026. Under his leadership, AiGC will launch Alberta’s regulated iGaming market on July 13. Keene has played a pivotal role in shaping the province’s gaming landscape, both through his work standing up AiGC and in his previous roles at the Alberta Gaming, Liquor, and Cannabis Commission (AGLC).
“Dan brings deep operational experience and a strong track record in gaming and market development. His leadership will be essential as the Alberta iGaming Corporation prepares for launch and delivers a regulated market built on social responsibility and player protection,” said Sanjeev Kad, Board Chair, Alberta iGaming Corporation.
About Dan Keene
Serving as Vice-President, Gaming at AGLC since July 2022, Keene overseen a broad portfolio, including gaming retail services, technical operations, compliance, online gambling, player loyalty, supply chain, electronic gaming, and product development across Alberta. He has been instrumental in advancing consumer-focused initiatives. He co-led the creation of Winner’s Edge, Alberta’s first province-wide casino loyalty program, and guided the operations of PlayAlberta.ca, currently, the province’s only regulated online gambling platform. Previously, Keene worked at AGLC as Manager, Casino Products. In this role, he led a team of specialists responsible for selecting slot games and terminals for Alberta’s 30 casinos and 750 VLT locations. Before joining AGLC, he completed successful tenures with Molson Breweries and Century Casinos Inc.
The post Alberta iGaming Corporation Appoints Dan Keene as its CEO appeared first on Americas iGaming & Sports Betting News.
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