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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.
Marc Burroughes has been appointed Chief Commercial Officer (CCO) of EveryMatrix’s Casino division, driven by CasinoEngine, the group’s flagship integration platform powering global tier-1 operators to record growth.
Burroughes has spent close to two decades in the iGaming industry including senior roles at IGT, Light & Wonder and OpenBet with extensive commercial experience setting strategies and managing tier-1 customers in integrating content from leading game studios, platforms and aggregation solutions.
Reporting to casino business unit CEO Stian Enger, he will be responsible for commercial strategy across EveryMatrix’s CasinoEngine business unit that generated €2.8 billion in Gross Gaming Revenue (GGR) for customers in 2024, processing more than 73 billion game rounds.
His new CCO role involves a multitude of responsibilities including defining and setting the commercial strategy for CasinoEngine; delivering the forthcoming EngageSuite ecosystem to existing and new clients; working closely with the SlotMatrix and EveryMatrix Games teams to help customers move to a full platform solution and more.
Ebbe Groes, Group CEO and Co-Founder, EveryMatrix, said: “Marc has a strong track record working in senior positions for some of the industry’s major providers and delivering premium casino solutions for tier-1 brands.
“As we continue to grow at pace, and as our casino business unit goes from strength-to-strength, we’re looking to accelerate this even further in the months and years ahead under Marc’s commercial leadership.”
Marc Burroughes, CCO, Casino, EveryMatrix, said: “When the opportunity came to join EveryMatrix on their journey to rapid growth there was only one answer I could give.
“The group’s casino division is among the best I’ve seen in my 17 years in the industry and it still has room to significantly grow. I want to maximise all the opportunities we’ve identified and I’m confident we can achieve some big targets.”
The post Marc Burroughes appointed Chief Commercial Officer Casino at EveryMatrix appeared first on European Gaming Industry News.
Aristocrat Interactive
Logifuture enters Mexico as Zoom Soccer via Aristocrat Interactive partnership
Logifuture, a leading supplier of award-winning iGaming products, has entered the Mexican market with Zoom Soccer, via its partnership with Aristocrat Interactive.
Zoom Soccer is a one-of-a-kind 24/7 virtual sports feed that delivers ultra-realistic, fully simulated matches and outcomes, featuring teams and leagues designed to feel familiar to fans. Built to complement real football offerings, it provides a non-stop, immersive betting experience.
With over 30,000 additional pre-match and in-play betting events each month, Zoom Soccer ensures sportsbooks stay engaging – not just during off-seasons but also during quieter moments of the day or week when real football options are limited. Thanks to existing partner integrations, it attracts tens of millions of bets every month.
The integration of Zoom Soccer is facilitated by Logifuture’s existing collaboration with Aristocrat Interactive. Through Aristocrat’s digital gaming platform, Logifuture is bringing its sophisticated products to millions of players across emerging markets, including Africa, Eastern Europe, Latin America and Central America.
Niccolo Cassettari, Chief Business Development Officer at Logifuture, said : “We’re thrilled that sports fans in Mexico will now be able to experience Zoom Soccer, our 24/7 feed of virtual leagues built for sportsbook users. Offering both pre-match and in-play betting, it delivers an experience that closely mirrors real football, keeping users always engaged.
“As the demand for engaging nonstop sports content grows, this integration helps operators deliver. With a broader pre-match lineup and a live section constantly packed with soccer events, Zoom Soccer enhances the sportsbook experience for customers in Mexico.”
Morten Hauge, Head of Sports at Aristocrat Interactive iGaming & Sports, said: “Our partnership with Logifuture allows us to bring innovative and engaging virtual sports experiences to new audiences.
“The addition of Zoom Soccer in Mexico is a great example of how we’re expanding our digital portfolio to meet the growing demand for high-quality, immersive betting content. We’re excited to see how players respond and look forward to continued collaboration with Logifuture.”
The post Logifuture enters Mexico as Zoom Soccer via Aristocrat Interactive partnership appeared first on Gaming and Gambling Industry in the Americas.
Award-winning slots provider delivers array of top-performing titles to Latvian operator via Relax Gaming’s aggregation platform
Playson, the accomplished digital entertainment supplier, has continued to cement its impressive European market presence after launching its games portfolio with Latvian operator Fenikss.
Operating under the industry renowned NOVOMATIC group, Fenikss is one of Latvia’s leading operators with a vast online and land-based slot offering and comprehensive sportsbook.
The agreement sees Playson support Fenikss’ commercial ambitions and expansion strategy with the supplier’s leading titles, including Royal Coins 2: Hold and Win, Book of Gold: Multichance, and Royal Joker: Hold and Win, now available on the operator’s website.
Playson continues to strengthen its European footprint and the latest integration, facilitated by Relax Gaming’s aggregation platform, underlines the supplier’s commitment to establishing itself within highly mature regulated markets.
Blanka Homor, Sales Director at Playson, said: “We are pleased to enjoy further growth in Europe with this exciting partnership with Fenikss, who will benefit from an array of our strongest performing titles.
“We are confident Fenikss’ significant Latvian presence, combined with our stimulating and graphically driven slots, will lead to impressive business growth.
Martins Opmanis, Head of I-Gaming Department at Fenikss, said: “Playson’s slots continue to be in high demand across Europe and we are delighted to host a selection of their titles on our online platform.
“We are confident they will complement our diverse offering perfectly and look forward to watching this collaboration flourish.”
The post Playson powers ahead in Europe with Fenikss partnership appeared first on European Gaming Industry News.
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