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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.
Dario Leiman Head of Business Development in Latin America at SOFTSWISS
SOFTSWISS Promotes Dario Leiman to Head of Business Development in Latin America
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SOFTSWISS, a leading global provider of iGaming software, announces the promotion of Dario Leiman from Regional Business Development Manager to Head of Business Development in Latin America.
SOFTSWISS has been actively focusing on building a solid foundation in Latin America since early 2024. As Regional Business Development Manager, Dario successfully established key partnerships that helped the company become a prominent player in the region. His efforts secured certifications for the SOFTSWISS Jackpot Aggregator in Brazil and the Game Aggregator in both Brazil and Peru. These milestones underscore the companyâs commitment to meeting local regulatory requirements.
Rubens Barrichello, Non-Executive Director in Latin America at SOFTSWISS, comments: âSOFTSWISS has assembled one of the strongest teams of professionals for such a crucial market as Latin America. Darioâs promotion ensures we have the right expertise to guide our expansion here. Iâm looking forward to seeing how the region will continue to grow under his leadership.â
In his new role as Head of Business Development in Latin America, Dario will oversee the development of business strategies to enhance SOFTSWISSâ market position in the region. This includes building new and nurturing existing partnerships and implementing the latest tech innovations that meet operatorsâ and playersâ needs.
Dario Leiman, Head of Business Development in Latin America at SOFTSWISS, shares: âI am truly honoured to take on this role. Our recent certifications in Brazil and Peru have opened up incredible prospects for local and international operators. Iâll do my best to ensure that SOFTSWISS continues to deliver best-in-class solutions tailored to the unique gaming landscape of Latin America.â
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About SOFTSWISS
SOFTSWISS is an international technology company with over 15 years of experience developing innovative solutions for the iGaming industry. SOFTSWISS holds a number of gaming licences and provides comprehensive software for managing iGaming projects. The companyâs product portfolio includes the Online Casino Platform, the Game Aggregator with over 27,800 casino games, the Affilka Affiliate Platform, the Sportsbook Software and the Jackpot Aggregator. In 2013, SOFTSWISS revolutionised the industry by introducing the worldâs first Bitcoin-optimised online casino solution. The expert team, based in Malta, Poland, and Georgia, counts over 2,000 employees.
The post SOFTSWISS Promotes Dario Leiman to Head of Business Development in Latin America appeared first on Gaming and Gambling Industry in the Americas.
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Altenar is launching a series of free online webinars with helpful tips and advice for operators to gain a better understanding of how to maximise the potential of their sportsbook.
In the webinars titled âBehind The Betâ, experts from across Altenarâs departments will present their thoughts on a range of topics aimed at educating the audience and helping them optimise their sportsbook offering.
As a leading sportsbook provider in regulated markets around the world, Altenarâs products are tailored to the demands of various regions and are developed based on the localised expertise of the team.
Account managers already play an important role in the business development of existing clients but âBehind The Betâ will allow both current and potential customers to improve their understanding of various markets, regulations and sportsbook products.
The webinars will be held in English, Spanish and Portuguese to cater to the needs of a global audience, with the presentations followed by a question-and-answer session.
The first edition of Behind The Bet will focus on one of the hottest topics in the iGaming industry as Altenarâs Head of Licensing and Regulatory Compliance Magno Neiva and Sales Manager Frederico Caputi discuss the legal landscape in Brazil.
Charlie Williams, Commercial Director at Altenar, said: âThe newly regulated market has opened up exciting opportunities for iGaming companies, but there are also many regulatory challenges to overcome in order to maximize market potential. Altenarâs success in highly regulated markets across the globe, and in South America, positions us to deliver a flexible range of products and services to help our clients grow in Brazil.â
Magno Neiva, Head of Licensing and Regulatory Compliance, said: âThe Brazilian iGaming market is evolving rapidly, presenting exciting opportunities for operators and providers alike. As one of the most dynamic and promising regions in the industry, Brazil is at the centre of innovation and the new regulatory advancements are shaping the future of online betting and gaming in South America.
âAltenar is proud to be part of this journey, bringing its expertise and cutting-edge solutions to a market that is poised for significant growth.â
This webinar, the first in a series, could not have chosen a more relevant market to explore. Through this discussion, Altenar aims to showcase how its advanced sportsbook and gaming solutions can help businesses thrive in this fast-moving environment.
The first edition of Behind The Bet will be held in Portuguese and takes place on March 12 at 11am (Brazilian Standard Time).
The post Altenar offers sportsbook advice with âBehind The Betâ webinars appeared first on European Gaming Industry News.
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After becoming one of the first B2B suppliers to get their sportsbook solution successfully GLI-certified for Brazil, Delasport has now achieved compliance with the requirements of SIGAP regarding its iGaming platform.
Obtaining the required GLI certifications and the integration with the Brazilian DataVault through SIGAPâs official API means that the solution is fully ready to dive headfirst into the market.
The certifications granted by Gaming Labs International to Delasport include the required set of approvals: the technical certificates for Betting System, Sports Betting Server (Sportsbook), a.k.a. Remote Game Server (RGS), and more.
Delasport also covers the geofencing requirements and the requirements for safer gambling monitoring and AML transaction monitoring.
Part of the implementations include an intricate system with multi-factor authentication and a modern KYC provider, meeting all requirements of the market.
Just days ago, Delasport announced its first Brazilian deal with Latam-based B2B platform provider Vibra Solutions. This is all part of the companyâs global expansion strategy where Brazil and LatAm in general is a key region to get established in.
âSuccessfully completing this second phase of GLI certification for Brazil reinforces the trust that players and operators place in Delasportâs productsâ, says Filippo Ferri, Delasportâs Chief Compliance Officer. âThis certification highlights our ability to uphold the highest industry standards of integrity and fairnessâ, he concludes.
The post Delasportâs Full Platform Now Certified in Brazil appeared first on Gaming and Gambling Industry in the Americas.
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