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

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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.

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PokerStars Big Game on Tour returns May 17 with Koon, Deeb and Berkey

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Season 3 runs weekly on PokerStars’ YouTube channel through June 14 and includes a $50,000 staked ‘Loose Cannon’ amateur spot.

PokerStars will launch a new run of PokerStars Big Game on Tour episodes on May 17, with Jason Koon, Shaun Deeb and Matt Berkey set to headline the line-up. The series will air on the PokerStars YouTube channel, with weekly episodes through June 14.

The cast for the new instalment also includes MMA fighter Sean O’Malley and high-stakes cash game player Randy ‘3Coin’ Sadler, according to the company. The episodes follow the Big Game format, featuring No Limit Hold’em cash game play.

PokerStars said the season’s ‘Loose Cannon’ will be Canadian operations manager Andy Taylor, who will be staked $50,000 and will keep any profit made at the table. The company described Taylor as running a property maintenance company and, with his wife, a non-for-profit organisation focused on supporting young athletes in Toronto.

A teaser for the new episodes aired during the livestream of the €100,000 High Rollers Invitational at PokerStars European Poker Tour (EPT) Monte Carlo, which featured Koon. PokerStars noted Koon “took home €1,000,000” from the event.

Release schedule: May 17 (Episode 1), May 24 (Episode 2), May 31 (Episode 3), June 7 (Episode 4), and June 14 (Episode 5).

The post PokerStars Big Game on Tour returns May 17 with Koon, Deeb and Berkey appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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Jason Koon, Shaun Deeb, and Matt Berkey Headline New Instalment of PokerStars Big Game on Tour

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Poker’s most thrilling televised cash game, PokerStars Big Game on Tour, will return on May 17 with a brand-new set of episodes featuring a stellar line-up headlined by PokerStars Ambassador and number three in the all-time poker money list Jason Koon, reigning two-time World Series of Poker Player of the Year Shaun Deeb, and American high-stakes poker pro and coach Matt Berkey.

MMA Fighter and poker enthusiast Sean O’Malley, and well-known high stakes cash game player and businessman Randy ‘3Coin’ Sadler complete the line-up, who will take to the felt against the ‘Loose Cannon’ to win big.

As always, each episode will showcase high stakes No Limit Hold’em cash game action in the beloved Big Game format, where one amateur player or ‘Loose Cannon’ is staked $50,000 and gets to keep any profit they make at the table.

Canadian Operations Manager Andy Taylor will shake up the felt as the ‘Loose Cannon’ hoping to beat the pros. Andy runs a property maintenance company as his main job and, alongside his wife, runs a non-for-profit organisation aimed at improving the skillset and mindset of young athletes across Toronto.

The teaser for the new Big Game episodes was aired during the live stream of the €100,000 High Rollers Invitational at PokerStars European Poker Tour (EPT) Monte Carlo, featuring Big Game player Jason Koon. Koon took home €1,000,000 after topping a field of some of the best in the world.

The first Big Game episode will air on PokerStars YouTube channel on May 17, with new episodes airing weekly and culminating on June 14.

  • Sunday, May 17 – BGOT Season 3 Episode 1
  • Sunday, May 24 – BGOT Season 3 Episode 2
  • Sunday, May 31 – BGOT Season 3 Episode 3
  • Sunday, June 7 – BGOT Season 3 Episode 4
  • Sunday, June 14 – BGOT Season 3 Episode 5

The post Jason Koon, Shaun Deeb, and Matt Berkey Headline New Instalment of PokerStars Big Game on Tour appeared first on Americas iGaming & Sports Betting News.

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IBJR hails App Store approval as a milestone in the fight against illegal betting in Brazil

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The Brazilian Institute for Responsible Gaming (IBJR) considers Apple’s decision to allow the distribution of regulated sports betting and online gaming applications on its Brazilian App Store a key milestone for the consolidation of a transparent and integrity-driven sector.

This measure strengthens regulation by making it easier for users to clearly identify operators that are duly authorized to operate in compliance with national rules.

Following Google’s decision, made less than a year ago, to authorize the distribution of sports betting apps on the Play Store in Brazil, this initiative acts as a powerful cybersecurity filter and helps protect consumers from the risks of the illegal market.

Since only operators licensed by the SPA are allowed to offer services to iOS users, the process of channeling traffic into the regulated environment is further strengthened.

However, for the measure to be fully effective, continuous enforcement is required, as several illegal apps can still be found on major platforms.

Data from Instituto Locomotiva, in partnership with LCA Consultoria, indicate that the illegal environment—much of it controlled by organized crime—moves around R$40 billion per year in Brazil and generates an estimated annual loss of R$10.8 billion in tax revenue.

In this context, actions that help distinguish legal operators from unauthorized ones are essential.

The presence of applications on both the Play Store and Apple Store reinforces the commitment to Responsible Gaming, as they integrate functionalities required by legislation and audited by the platforms.

These include strict age verification to prevent access by minors under 18, clear risk warnings related to gambling, and self-exclusion tools.

The post IBJR hails App Store approval as a milestone in the fight against illegal betting in Brazil appeared first on Americas iGaming & Sports Betting News.

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