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.
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Galaxsys, the award-winning games developer, is proud to announce the launch of Olympian Legends, a new slot game that brings the power and majesty of ancient mythology to life.
More than just a tribute to ancient mythology, Olympian Legends combines breathtaking visuals, innovative features, and dynamic gameplay, promising players an unforgettable journey through the myths of Olympus. As players progress and reveal mythic features, they face the power of ancient gods. With cascading symbols and exciting bonuses, the game delivers a dynamic adventure thatâs truly worth exploring.
This marks the third slot title that Galaxsys has announced over the last two months, following the launches of Funny Faces: Hoglet-Moglet and El Dorado.
What Makes Olympian Legends Special
Olympian Legends stands out by blending rich narrative elements with innovative slot mechanics. The progress bar on the right side of the grid consists of five elements. Each time a winning combination is formed, the progress bar fills from bottom to top, triggering a mythical feature when an element is completed. Additionally, the Buy Bonus option allows players to take fate into their own hands, enabling them to access the bonus game at any time they choose.
Dynamic animations and sound design ensure every encounter with Zeus, Poseidon, and more characters feels like stepping into an epic saga rather than playing a traditional slot.
Vigen Safaryan, CPO at Galaxsys, commented: âOlympian Legends combines strong gameplay mechanics with a detailed and dynamic theme. Our goal was to deliver a slot that feels rewarding to play while offering players a more refined experience through mythology. We paid special attention to balancing the gameâs features to ensure that the experience feels dynamic, without overwhelming the player. From the visuals and animations to the way the bonuses unfold, every element was designed to create a journey that feels both entertaining and authentic.â
Olympian Legends is now live and available for Galaxsysâ global network of partners.
The post Olympian Legends: Galaxsysâ New Slot Game Inspired by Ancient Myths appeared first on European Gaming Industry News.
Conferences in Europe
Inaugural iGaming Event for Technology Leaders: Technology in Gaming Conference 2025
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The iGaming industry is getting a dedicated space for its most forward-thinking technical leaders with the launch of the Technology in Gaming Conference 2025 (TiG 2025) â an exclusive new event created specifically for CTOs, CIOs, and senior technology stakeholders in the iGaming world.
Taking place on 1st July 2025 as part of London iGaming Week in partnership with iGB Live!, this specialist conference will bring together some of the most innovative minds in technology to explore the future of cybersecurity, infrastructure, artificial intelligence, compliance, and scalability. TiG 2025 is designed to give technical leaders a forum tailored to the real challenges and opportunities shaping iGaming today and in the years to come.
âI am delighted to see other organisers bringing their own events that meet the need of specialist verticals within the industry as part of London iGaming week. The team at iGB L!VE are pleased to be able to support this event, and encourage iGaming senior IT professionals to join what we know will be an event that offers excellent content and networking opportunities for themâ said Naomi Barton, Portfolio Director at Clarion â Organiser of iGB Live!
Topics on the agenda include:
- Scalable architecture & infrastructure
- AI & machine learning in iGaming
- Compliance & security in regulated markets
- Future-ready platform innovation
- Engineering teams, DevOps, and automation
âAs an industry driven by technology I think itâs important to create a space that speaks specifically to the leaders developing and driving the change that has such a big impact on the growth and development of such an exciting sectorâ commented Shona ODonnell, Event Director.Â
Pretty Technical, a leading provider of iGaming software and platform solutions, is proud to be named the headline sponsor of this inaugural event. The companyâs commitment to innovation and modern architecture makes it a natural fit for an event designed to shape the next chapter of gaming tech.
âAs a business that thrives on building technology designed for the next decade, not the last, weâre thrilled to support TiG 2025 and connect with the talented tech leaders shaping the future of iGaming,â said Emma Blaylock, CEO Pretty Technical.
The event is also sponsored by Claranet, experts in modernising and managing critical applications and infrastructure 24Ă7, and Marshall Wolfe, a dedicated hiring consultancy specialising in digital and technology sectors.
Registration is now open with tickets currently discounted by ÂŁ200 until 31st May.
The post Inaugural iGaming Event for Technology Leaders: Technology in Gaming Conference 2025 appeared first on European Gaming Industry News.
EveryMatrix Press Releases
EveryMatrix goes âback to where it all beganâ with new London office opening
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EveryMatrix has opened a new central London office, 17 years after it was founded in the UK capital.Â
Located in the heart of the city on the 25th floor of the newly opened 258,000 sq ft HYLO building in Old Street, London, the premium office space is home to various EveryMatrix teams, including several members of its OddsMatrix sports platform division.
The HYLO has been described as one of Londonâs most exciting new buildings, boasting a high rise tower and large, efficient podium floors plus roof gardens and new public spaces all within the popular Shoreditch area.
Team members include UK-based ex FSB Technology employees who have successfully integrated into EveryMatrix, following its acquisition last year. Many of the team have been responsible for delivering the Groupâs new horse racing product.
Built from the ground up in just six months, the EveryMatrix racing product is fully managed by the expert, award-winning former-FSB tradingâŻteam in London. The solution offers a wide range of global content, round the clock streaming, multiple derivative markets, granular price management and dynamic cross-product bonusing.
Designed to appeal to core racing markets such as the UK & Ireland and South Africa, customers also benefit from integration into EveryMatrix platform technology, offering increased scale, next generation user experience, enhanced bonusing and increased automation.
The new EveryMatrix London office is the third new global location to be opened this year with Chang Mai in Thailand and Cebu in the Philippines welcoming teams in March. This takes the total number of global EveryMatrix offices to 15 employing more than 1,400 staff.
The EveryMatrix workforce has increased by 40% since last March when the company announced its 1,000th employee while simultaneously cutting the ribbon on a state-of-the-art, sustainably developed and built office for more than 500 staff in Bucharest.
Ebbe Groes, Group CEO and Co-Founder, EveryMatrix, said: âWeâre back where it all began when Stian [Hornsletten] and I co-founded the business in 2008. This new opening brings back so many fond memories and Iâm personally delighted to see the business come back full circle.Â
âThe space is magnificent and one of the best Iâve ever seen offering our teams here superb working conditions, multiple benefits and the ideal central London location.
âOur growth is showing no bounds and this new UK location highlights just how ambitious we are to continue growing and working with premium, tier-1 customers who we can now host in one of Europeâs best cities.â
The post EveryMatrix goes âback to where it all beganâ with new London office opening appeared first on European Gaming Industry News.
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