Connect with us

Latest News

Kambi Provides Q1 Updates and Measures to Strengthen its Financial Position in Light of COVID-19 Impact

Published

on

Reading Time: 2 minutes

 

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.

Continue Reading
Advertisement

Central America

FeedConstruct takes exclusive data and streaming rights for Nicaragua’s Liga Primera

Published

on

feedconstruct-takes-exclusive-data-and-streaming-rights-for-nicaragua’s-liga-primera

Deal covers worldwide distribution of Liga Primera and Copa Primera content for sportsbooks and betting suppliers.

FeedConstruct has acquired exclusive worldwide streaming and data rights for Nicaragua’s top-tier football competitions, Liga Primera and Copa Primera.

The company said the agreement delivers start-to-finish coverage of every match across both competitions and expands its Central American football portfolio for sportsbook operators and providers using its data integration and streaming.

Ani Isakhanyan, Head of Rights and Content at FeedConstruct, stated, “Securing these exclusive rights is a highly valuable addition to our portfolio. Liga Primera and Copa Primera deliver the consistent football content that the global iGaming industry demands. This acquisition ensures our partners can offer comprehensive coverage of a rapidly emerging betting market.”

Allan J. Chamorro, Managing Partner at Apollo Sports Business Group, added, “Nicaragua has rapidly established itself as one of Central America’s fastest-growing football markets, attracting growing regional recognition and international commercial interest. Our partnership with FeedConstruct builds on that momentum by expanding the global distribution of Liga Primera and Copa Primera while powering sustainable commercial opportunities that strengthen clubs, elevate the competitions, and accelerate the long-term growth of the game.”

Liga Primera and Copa Primera are the main competitions in Nicaragua’s professional football calendar. FeedConstruct said the competitions are gaining regional recognition in Central America, supported by regular participation in CONCACAF tournaments.

 

The post FeedConstruct takes exclusive data and streaming rights for Nicaragua’s Liga Primera appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.

Continue Reading

Cool Bus Shelter

The UAE Lottery backs Cool Bus Shelter initiative for outdoor workers

Published

on

the-uae-lottery-backs-cool-bus-shelter-initiative-for-outdoor-workers

The UAE Lottery has partnered with SmartLife Foundation to support outdoor workers during the UAE summer, backing the Cool Bus Shelter initiative in Abu Dhabi on July 20, 2026.

The programme aligns with the UAE’s Midday Break rules, which require outdoor work to stop between 12:30 PM and 3:00 PM during peak heat. As part of the initiative, air-conditioned buses were stationed near labour sites to provide workers a place to rest before returning outdoors.

Volunteers from The UAE Lottery and SmartLife Foundation provided cold towels, cold water and drinks, according to the organisations. Workers also received portable rechargeable neck fans intended to provide additional cooling after the break.

Suzan Kazzi, Associate Director – Corporate Social Responsibility at Momentum- The UAE Lottery, said: “Outdoor workers are the backbone of our cities’ urban development, and initiatives like the Cool Bus Shelter ensure they receive the care and recognition they deserve during the most challenging months of the year. This is our small way of saying thank you and reminding them that their wellbeing truly matters”.

Abhijeet Oak, Vice President at SmartLife Foundation, added: “At SmartLife Foundation, we believe that protecting the wellbeing of outdoor workforce is a shared responsibility. Through the Cool Bus Shelter initiative, we are proud to collaborate with organizations such as The UAE Lottery and other community partners to create moments of comfort, appreciation and human connection that leave a lasting impact”.

The post The UAE Lottery backs Cool Bus Shelter initiative for outdoor workers appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.

Continue Reading

Bally’s Intralot

Intralot Ireland Limited Signs Seven Year Contract Extension with Premier Lotteries Ireland

Published

on

intralot-ireland-limited-signs-seven-year-contract-extension-with-premier-lotteries-ireland

 

Bally’s Intralot announced that its subsidiary Intralot Ireland Limited has signed a seven year contract extension, through November 2034, with Premier Lotteries Ireland (PLI). The agreement supports PLI’s continued operation of the Irish National Lottery through the remainder of its license period and reinforces Bally’s Intralot’s role as a trusted technology and services partner.

Under the terms of the agreement, Bally’s Intralot will modernise PLI’s technology ecosystem by deploying its next-generation LotosX Omni solution and PlayerX Player Account Management platform. The solution will provide a modern, cloud-based technology foundation supporting lottery operations across retail and digital channels, while incorporating advanced retailer management, instant games management, device management and content management capabilities. The agreement also includes comprehensive support and maintenance services, along with cloud operations and cybersecurity services for the first year, designed to ensure the long-term reliability, security and performance of PLI’s technology environment.

Through this partnership, Bally’s Intralot will support PLI in delivering a future-ready operating environment designed to enhance operational efficiency, accelerate innovation and strengthen player engagement. The modernisation will provide a secure, scalable and resilient platform that enables PLI to continue evolving its offerings while improving time-to-market implementation of new initiatives, along with maintaining the highest standards of reliability and service to players and retailers across Ireland.

“We are pleased to extend our partnership with Bally’s Intralot, a relationship built on trust, commitment to excellence, and shared ambition since 2014. As we look to the future, this agreement provides a strong platform for continued innovation and growth, ensuring we can deliver a modern, secure, and world-class National Lottery that places responsible play at its heart while continuing to benefit communities across Ireland,” said Cian Murphy, CEO of PLI.

Robeson Reeves, CEO of the Bally’s Intralot Group, said: “We are proud to extend our long-standing partnership with Premier Lotteries Ireland for a further seven years. This agreement reflects the strength of our technology and the trust we have built with PLI over more than a decade of collaboration. We look forward to continuing to support the National Lottery of Ireland and to delivering innovative, responsible gaming experiences to players across the country.”

The post Intralot Ireland Limited Signs Seven Year Contract Extension with Premier Lotteries Ireland appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.

Continue Reading

Trending

Get it on Google Play

Fresh slot games releases by the top brands of the industry. We provide you with the latest news straight from the entertainment industries.

The platform also hosts industry-relevant webinars, and provides detailed reports, making it a one-stop resource for anyone seeking information about operators, suppliers, regulators, and professional services in the European gaming market. The portal's primary goal is to keep its extensive reader base updated on the latest happenings, trends, and developments within the gaming and gambling sector, with an emphasis on the European market while also covering pertinent global news. It's an indispensable resource for gaming professionals, operators, and enthusiasts alike.

Contact us: [email protected]

Editorial / PR Submissions: [email protected]

Copyright © 2015 - 2024 - Recent Slot Releases is part of HIPTHER Agency. Registered in Romania under Proshirt SRL, Company number: 2134306, EU VAT ID: RO21343605. Office address: Blvd. 1 Decembrie 1918 nr.5, Targu Mures, Romania