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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.

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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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FairPlay Sports Media Launches Football AI Stats Assistant ‘Teammate’

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FairPlay Sports Media, the fan and AI-powered global sports media network, has launched Teammate, the industry’s first sports AI assistant on its WhoScored.com brand.

Teammate translates natural-language commands from sports fans and bettors, powered by a Google Gemini partnership, and redirects them to relevant betting opportunities, forecasting insight, and sporting data, to help enhance the user experience of football stats enthusiasts, as well as help level the playing field against the sportsbook, using text and data visualisations as communication.

Utilising the FairPlay network’s 25+ years of sports data assets, and its recent integration of a cutting-edge deep-learning neural engine, Teammate is the most advanced, AI-powered and fan-first tool which will allow the increasingly stats-hungry sports audience to go deeper into the numbers to enhance both their pre-match and live engagement and betting decisions.

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Google Gemini has led the AI assistant charge of recent years, mastering creative and productivity tools, advanced reasoning and complex tasks, and engaging content delivery, all powered by its various advanced LLMs. Using this sophisticated platform, Teammate will access the same, well-known UI, while adapting its design and responses for those related to sports data.

Teammate, live now in beta mode, will revolutionise how sports fans find information, whether they’re a die-hard fan, a fantasy strategist, or lining up a bet builder, with its front-end designed to fit seamlessly as a white label into partner apps and websites, increasing brand stickiness and offering monetisation opportunities for those hosting the sports lifestyle tool.

Stuart Simms, group CEO at FairPlay Sports Media, said: “AI has integrated rapidly into our day-to-day lives, but there’s not been a truly bespoke assistant service that suits the needs of sports bettors and data-hungry fans. Teammate, which combines our prowess in delivery of sporting insight, with Google Gemini’s ability to serve users with natural, conversational conveyance of information, offers just that.

“Whether you need betting inspiration, you’re looking to find the best value that backs up a gut betting pick or want to explore betting opportunities around a player’s recent run of form, Teammate will point you in the direction to find the best bets and the most relevant markets, alongside forecasted tips and associated statistics and data.”

The post FairPlay Sports Media Launches Football AI Stats Assistant ‘Teammate’ appeared first on European Gaming Industry News.

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Nolimit City extends xMechanic licensing deal with Sneaky Slots

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World leading slots innovator, Nolimit City, has partnered up with the newly announced slots studio, Sneaky Slots.

Nolimit City have licensed out their trademarked xMechanics to Sneaky Slots, for use in their future game portfolio.

The two have agreed to feature Nolimit City’s proprietary xMechanics across several of Sneaky Slots new and yet to be announced slots roadmap.

Nolimit has always prided itself in creating a brand with a rich foundation and a loyal following thanks to its relentless innovation. Boasting over 19 in house xMechanics, Nolimit’s trademark mechanics will be featured on the new studio and promise to feature some of Nolimit’s most beloved mechanics, such as xNudge®, xWays®, xBomb® and several others. Players can experience several of these mechanics on classic titles, such as Brute Force, San Quentin xWays® and Fire In The Hole

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There’s not much to be said about Sneaky Slots as of yet, the mysterious studio seems to have a lot in store.

The post Nolimit City extends xMechanic licensing deal with Sneaky Slots appeared first on European Gaming Industry News.

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Legacy of Lost Gold: Explore the Depths of the Jungle With ELA Games’ Latest Release

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Swing from the vines, exploring the jungle and its dense foliage for unimaginable riches! Various jungle animals join you in your quest to find gold, where each spin gives you plenty of opportunities. 

ELA Games presents its newest release: Legacy of Lost Gold. Are you ready for the adventure?

The Heroes of the Jungle

Legacy of Lost Gold’s crown jewel is its Hold & Win Bonus Game. Here, various jungle companions and heroes show up in the special top row, each bringing their unique power-up to help players on their quest:

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  • Collect all visible coins for an instant payout
  • Boost every coin by +1
  • Upgrade the reel below by +1 to +5
  • Multiply the reel below by x2

 

Additionally, respins will continue as long as new symbols land on the main bonus grid, giving players even more chances to stack their treasures high. Each time a hero arrives, the game’s intensity rises as the chance of juicy rewards increases!

ELA Games’ Latest Expedition

Legacy of Lost Gold is an example of the studio’s approach to game development: high-energy gameplay, visually-rich aesthetics, and engaging mechanics so players can have constant fun from the first spin to the last.

Yaroslav Soloshenko, ELA Games’ Business Development Team Lead, commented on the new release, “The team loves looking for new ways to keep players engaged and invested… not just in winning, but in the journey itself. Legacy of Lost Gold adds to the immersion with characters that help along the way, creating an experience that players resonate with. In this game, you’re not just chasing the next win; you feel like the main character, where each spin could be impactful.”

 

Play Now!

The gold is out there… just waiting for someone to swoop in and take it. It’s not going to find itself! Play Legacy of Lost Gold today and see if you can discover the hidden riches.

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The post Legacy of Lost Gold: Explore the Depths of the Jungle With ELA Games’ Latest Release appeared first on European Gaming Industry News.

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