Industry News
Kambi Group plc Q4 Report 2019
Financial summary
- Revenue amounted to €26.7 (21.7) million for the fourth quarter of 2019, and €92.3 (76.2) million for the period January to December 2019
- Operating profit (EBIT) for the fourth quarter of 2019 was €6.2 (4.2) million, with a margin of 23.1% (19.2%), and €14.7 (12.7) million for the period January to December 2019, with a margin of 16.0% (16.7%)
- Profit after Tax, including €0.5 million of impairment charges, amounted to €4.6 (3.3) million for the fourth quarter of 2019, and €10.4 (9.8) million for the period January to December 2019
- Earnings per share for the fourth quarter of 2019 were €0.152 (0.110), and €0.345 (0.326) for the period January to December 2019
- Cash flow from operating and investing activities (excluding working capital) amounted to €4.4 (2.8) million for the fourth quarter of 2019, and €8.6 (8.6) million for the period January to December 2019
- The AGM will be held on 13 May 2020 at Kambi’s Stockholm office. The board has decided to propose that no dividend is paid out (2018: no dividend)
Key highlights
- Strong financial performance with 23% year-on-year rise in Q4 revenue and 52% year-on-year increase in Q4 operator turnover, driven by further expansion into new US states and new customer launches
- The quarterly performance contributed to full year 2019 revenue growth of 21% and an operator turnover increase of 37% compared to 2018
- Signed Seneca Gaming Corporation in November and launched in all three of Seneca’s New York casinos in December
- Launched with DraftKings and New Hampshire Lottery when going live online in New Hampshire in late December
- A record 11 Kambi partners named in the prestigious EGR Power 50 ranking, which lists the industry’s most powerful operators
Kristian Nylén, Chief Executive Officer:
“I’m delighted to report another strong quarter for Kambi, which rounds off a year in which annual revenues grew by more than 20% and operator turnover by more than a third. Looking back on 2019, it was another great year for Kambi, as we continued to build out a fantastic sports betting product, expanded into multiple new markets, and signed six new partners, all of which leaves us in a great place for 2020.
In the previous report, I highlighted the momentum we could see building in operator turnover, and this trend continued in Q4 with each month delivering a greater number than the last. In total, Q4 operator turnover increased by 52% year-on-year and 36% sequentially – considerably higher volumes than Kambi has ever seen. While much of this growth was derived from our US partners, we also saw double-digit turnover growth in markets outside of the US, all of which contributed to strong revenue growth of 23%.
While the year was pleasing for many reasons, 2019 ended with news our partner DraftKings had entered into an agreement to acquire its own sports betting technology and therefore will no longer be dependent on Kambi. Our revenues from DraftKings are likely to be unaffected throughout 2020. I remain of the view that DraftKings’ long-term prospects would be better served with Kambi but also that this will increase the appeal of Kambi to an even greater level. We remain firmly committed to the US, where we have a diverse network of partners which have fantastic potential for growth, particularly as more states regulate.
We continue to prove that we are the sports betting partner operators can trust to deliver. In Q4, we launched in seven casinos and a variety of online sportsbooks across multiple jurisdictions. I’m particularly proud we were able to launch with our first US lottery, when going live in New Hampshire with DraftKings in December. I was also pleased to make our retail debut in South Africa when we launched the Kambi Sportsbook inside the Sun International-owned Grand West Casino in Cape Town.
I’ve spoken previously about the strengths of Kambi’s retail product and our ability to roll out at speed. These assets were both on display during Q4 when we successfully signed a new customer in Seneca Gaming Corporation and subsequently launched in its three New York casino properties within a matter of weeks. Seneca is a great customer signing for us. Not only is it an organisation which shares our values of trust and collaboration, but the fact it is owned by one of the most respected US Native American tribes ensures it is a partnership that will resonate within the tribal community nationwide.
The evolving nature of the sports betting industry means there will always be challenges to overcome but I know we have built a robust business with the capability and strength to withstand these pressures. We operate in a fast-growing market, one which continues to embrace regulation and will therefore present Kambi and our partners with exciting opportunities for many years to come. Be in no doubt Kambi is well positioned both in the US and globally and I look forward to a prosperous 2020.”
You are invited to participate in a report presentation at 10.45 (CET) with Kambi Group plc’s CEO Kristian Nylén and CFO David Kenyon. The presentation will be held in English via a telephone conference and can also be accessed via an audiocast using the link below.
Questions can be asked on the telephone conference or sent via the audiocast link. Please see details in the link below:
https://financialhearings.com/event/12006
Numbers for participation in the telephone conference:
Dial-in number SE: +46850558368 UK: +443333009031 US: +18335268398
Link to the audiocast: https://tv.streamfabriken.com/kambi-group-q4-2019
Link to report page: https://www.kambi.com/investors/financial-reports-and-presentations/quarterly-reports
Carmen Alexander
Entain’s Pitching In Initiative Crowned Grassroots Sports Initiative of the Year
Reading Time: 2 minutes
Entain’s Pitching In initiative has beaten off fierce competition to be named Grassroots Initiative of the Year at the Global Football Industry Awards. Launched by Entain in 2020, the trailblazing initiative has made a huge impact at the non-league level of England’s national game.
Pitching In is the title sponsor of the Isthmian, Northern Premier and Southern Leagues – collectively known as the Trident Leagues – that comprise 264 clubs at Steps three and four of the non-league pyramid.
Pitching In, however, has always been about more than a flagship sponsorship. At the heart of the initiative is the ambition to enhance engagement between football clubs and their local communities. This led to Entain being the founding partner of the Trident Community Fund (TCF).
The TCF was launched to help clubs establish and expand community initiatives, maximising the remarkable impact that grassroots football clubs have on their local area. Every club in the Trident Leagues is encouraged to apply for a grant of up to £5000 annually to support community initiatives. The TCF has now supported more than 150 such projects, helping to expand youth, women’s and walking football, as well as supporting initiatives focusing on local upskilling, tackling anti-social behaviour and supporting local veterans and food banks.
In 2022, Pitching In launched the Volunteer Hub to provide a one-stop online portal for clubs to post volunteering vacancies and for local people to sign up and get involved.
Pitching In’s contribution to the grassroots game has now been recognised at the Global Football Industry Awards, a landmark global ceremony which brings together industry giants and trailblazers from every corner of the football ecosystem.
Pitching In was up against the likes of McDonalds, Barclays, Adidas, Nike and Coca-Cola, who were among the other shortlisted nominees for the Grassroots Initiative of the Year prize. Hosted by football royalty – Jamie Carragher and Peter Crouch – the awards celebrate the visionaries, pioneers and change-makers powering world football from behind the scenes.
Stella David, CEO of Entain, said: “We are delighted to see Pitching In recognised in this manner. Football is central to our business, which is why we feel it is so important to invest in the sport at the grassroots level, playing our part in bringing clubs and their communities closer together.
“When we started this project back in 2020, non-league clubs – and English football more generally – were staring into an uncertain future amid the Covid-19 pandemic.
“The grants Pitching In provided at that time proved crucial and we have continued to grow our relationship with the more than 260 clubs, who are the backbone of the English game, over the time since. We love supporting grassroots football and are excited by how this partnership can grow and evolve further.
“We would like to thank the Northern Premier League, Isthmian League and Southern League for their continued support, along with every single volunteer who gives up their time for their local football club. The game at this level could not run without you and Pitching In will continue to do what we can to highlight your invaluable contributions.”
Carmen Alexander from the Global Football Industry Awards added: “Congratulations to Entain and all 2025 Global Football Industry Award winners.
“Our judges were impressed by the commitment Entain has shown to grassroots football over a prolonged period of time and particularly the Trident Community Fund, which continues to make a tangible difference to non-league clubs across the country. Entain is very worthy of this recognition.”
The post Entain’s Pitching In Initiative Crowned Grassroots Sports Initiative of the Year appeared first on European Gaming Industry News.
Industry News
Sky Bet Relocates Headquarters to Malta
Reading Time: < 1 minute
Sky Bet has relocated its headquarters to Malta, a move that could cut its UK tax bill by tens of millions of pounds a year. The change will mean less money for the government at a time when the public finances are under strain.
The chancellor needs to increase tax revenues and is under pressure to levy higher duties on the betting industry – something the industry is aggressively campaigning against. Sky Bet, which describes itself as “the UK’s No. 1 betting app,” has moved its sportsbetting business to the Maltese branch of a new UK company, SBG Sports Limited.
Flutter Entertainment PLC, Sky Bet’s parent company, first told staff about the move in June, alongside a plan to make around 250 people in the UK redundant. At a meeting which was live-streamed across Flutter’s “UK and Ireland” business, workers in Leeds, Sunderland, London, Dublin, Gibraltar, Porto and Cluj were told the relocation of Sky Bet to Malta was driven by a “need to operate more efficiently” and to reduce costs.
Steve Birch, chief commercial officer of Sky Betting and Gaming, said that from November 1, “day-to-day commercial and marketing decision making will take place in Malta,” although Sky Bet’s Leeds office would continue to be one of Flutter’s largest.
The post Sky Bet Relocates Headquarters to Malta appeared first on European Gaming Industry News.
financial results
GiG Software PLC Q3 Trading Results
Reading Time: 2 minutes
GiG Software Plc, a leading B2B iGaming technology company, has announced its financial results for the third quarter ended 30 September 2025 (Q3 2025).
Key Operational Highlights
• Delivered three launches across Q3 2025, including GiG’s market-leading sportsbook in the UK, with two additional launches released following the end of the quarter
• Ongoing new business momentum continued, with five commercial agreements signed, including an agreement to supply the technology to a European Lottery alongside new business wins targeting the Brazilian market
• Continued progress against the Company’s key strategic growth priorities, in particular leveraging AI across the iGaming vertical
• Post quarter end, the Company entered into a commercial agreement with a European Operator to provide platform and sportsbook services to the French market.
Financial Summary of Q3 2025
• Q3 2025 revenue of €9.7 million (Q3 2024: €7.4 million), up 31% YoY
• Q3 2025 Adjusted EBITDA for the third quarter of 2025 increased €2.3 million to €1.2 million (Q3 2024: loss of €1.1 million) at a margin of 13% (Q3 2024: -15%)
• Q3 2025 operating loss reduced to €3.5 million (Q3 2024: underlying loss of €9.7 million)
• Cash and cash equivalents balance of €4.7 million as at 30 September 2025 (30 September 2024: €10.0 million; 31 December 2024: €6.4 million).
At the end of Q3 2025, GiG received €11m in relation to the Company’s directed share issue. In light of this, the Board is satisfied with the current strength of the Company’s Balance Sheet and, in the interest of all shareholders, do not currently envisage the need for additional funds.
Results for the First Nine Months of 2025
Revenue for the first nine months of 2025 (9M 2025) was up 22% YoY to €28.0 million (9M 2024: €23.0 million)
Adjusted EBITDA for 9M 2025 amounted to €2.6 million (9M 2024: underlying loss of €3.1 million), at a margin of 9% (9M 2024: -13%)
Operating loss for 9M 2025 reduced to €11.6 million (9M 2024: underlying loss of €22.1 million)
Richard Carter, Chief Executive Officer of GiG, said: “We continue to be encouraged with our ongoing financial and operational progress across the business. Our new business momentum has been supported by a number of key strategic new business wins, including recent gains targeting the Brazilian market and GiG securing a major European Lottery, marking our first entry into the lottery vertical.
“Q3 represented another period of progress for GiG and further evolution of the business. We continue to refine our go-to-market strategy and evolve our highly scalable technology platform complemented by an increasingly data-driven, AI-empowered operating model.”
The post GiG Software PLC Q3 Trading Results appeared first on European Gaming Industry News.
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