Industry News
Kambi Group plc Q1 Report 2020
Financial summary
- Revenue amounted to €27.9 (Q1 2019: 21.0) million for the first quarter of 2020, an increase of 33%
- Operating profit (EBIT) for the first quarter of 2020 was €6.8 (2.6) million, with a margin of 24.5% (12.4%)
- Profit after Tax amounted to €4.8 (2.0) million for the first quarter of 2020
- Earnings per share for the first quarter of 2020 were €0.156 (0.066)
- Cash flow from operating and investing activities (excluding working capital movements) amounted to €4.1 (1.1) million for the first quarter of 2020
Key highlights
- Strong financial performance with 33% year-on-year rise in Q1 revenue and 27% year-on-year increase in Q1 operator turnover, despite reduced sports schedule from 12 March 2020
- Average daily operator turnover to 12 March 2020 up 47% on the comparative period in Q1 2019 and up 7% on the comparative period in Q4 2019
- Multiple partner launches, including taking the first legal sports bets in the US states of Illinois and Michigan, further demonstrating Kambi’s regulatory and operational excellence
“The coronavirus pandemic is having a major impact on people’s lives and livelihoods and represents a global challenge of the like we have never faced before. Industries of all kinds have been affected and interrupted, with our own sports betting industry no exception.
The sports calendar has been stripped bare across the world, with major leagues and events being cancelled or postponed, quite rightly, until safety can be guaranteed. And while I have no doubt sports will return, the current situation has understandably led to a reduction in our revenues, although our teams have done a wonderful job to stem the flow and ensure our partners have a good product to sell. In the final weeks of Q1 and early Q2, we have been running at approximately 25-30% of previous levels in Q1, despite our increasingly material retail business being all but closed.
Despite the much lighter sporting calendar during the latter weeks of the first quarter, Kambi posted strong growth numbers. Operator turnover for the period was up 27% while our revenue increased by a third to €27.9m. EBIT was €6.8m, and we ended Q1 with a cash balance of €46.3m, a sum which will help us withstand the worst-case scenario: an extended period without major sports.
It’s worth highlighting the momentum we had built before the pandemic began to make its presence felt on the sporting calendar. Up to and including 12 March, Kambi’s average daily operator turnover in Q1 was up 47% on the respective period in Q1 2019, and on track to eclipse our record operator turnover of the previous quarter, with it ahead 7% on the comparative period in Q4 2019, despite fewer American football fixtures due to the season’s end.
Furthermore, on 9 and 11 March we processed the first legal bets in the states of Illinois and Michigan respectively. This continued our fantastic performance of getting partners to market quickly with a high quality and compliant sports betting service. To illustrate, Kambi is now active in 10 US states, achieving market firsts on eight occasions. In addition, we recently received our licence for the state of Colorado, where we expect to go live soon.
As announced earlier this month, we introduced a major cost saving programme, to which our staff have readily adapted. I must thank our people for the resilience they have shown during this difficult period. I feel proud of their commitment to our partners to deliver a quality service under the circumstances.
We owe it to our all our employees, partners and investors to ensure we are in the strongest position possible to pick up where we left off when sports do resume, and we enter what promises to be a prolonged period of busy sporting action. I’m confident the cost saving measures we’ve introduced in recent weeks, our strong balance sheet, and the flexibility we have retained to be back running at 100% capacity almost immediately, will ensure we are able to do so, alongside our fantastic partners.
So even though our momentum has been slowed by the unfortunate events of recent months, the decisions we have taken see us well placed to move through the gears as soon as the virus is under control and major sports return. There are positive signs some leagues and tours may resume before or during the summer, albeit behind closed doors, and when they do, we’ll be ready.”
You are invited to participate in a report presentation at 10.45 (CEST) 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/12433
Numbers for participation in the telephone conference:
Dial-in number SE: +46850558369 UK: +443333009262 US: +18338230589
Link to the audiocast: https://tv.streamfabriken.com/kambi-group-q1-2020
Link to report page: https://www.kambi.com/investors/financial-reports-and-presentations/quarterly-reports
Powered by WPeMatico
Industry News
International Accolade for Campaign from the Danish Gambling Authority
At a conference for gambling regulators from all around the world, the Danish Gambling Authority has been awarded “Best regulatory campaign”. The award was given for the Danish Gambling Authority’s campaign “The One-Armed Bandit”, which on social media highlighted the consequences of gambling for young people under the age of 18.
The award was presented by a jury from the International Association of Gaming Regulators, an association of 81 gambling authorities from around the world. Every year, they gather for a conference to discuss current gambling topics across countries. This year, the conference was held in Rome under the heading “Navigate the future of gaming regulation in a transforming world”.
It was a proud Director of the Danish Gambling Authority, Anders Dorph, who received the statuette in front of the 400 participants at the conference gala dinner.
“I am incredibly proud and happy that we have won this award! It is a very special recognition and honour that our colleagues from all over the world have chosen our campaign,” said the Director.
Campaign personifies gambling addiction
Despite the fact that most types of gambling have an age limit of 18, a study by the Danish Gambling Authority in 2023 showed that 15% of young people aged 15-17 have gambled.
To prevent this and to prevent young people from becoming addicted to gambling, the Danish Gambling Authority launched the campaign “The One-Armed Bandit” in December last year, targeting young people aged 14 to 17.
The campaign talks about the potential consequences of gambling in a humorous and exaggerated way.
It does this through the fictional character, “The One-Armed Bandit”, who is the personification of gambling addiction. In videos on social media, the One-Armed Bandit tries to lure young people to gamble in unorthodox ways. He uses humour, sarcasm and provocative language to achieve his goal.
To spread awareness of the One-Armed Bandit among the target audience, the Danish Gambling Authority used influencers, among other things.
“It’s a very different campaign from our previous campaigns. It required completely new approaches and a lot of courage to reach a new and very young target group. The people we wanted to reach are very hard to reach with campaigns, but with “The One-Armed Bandit” we hit the mark and I’m very proud of that,” said Anders Dorph.
International recognition
When the nomination was written and sent to the jury for evaluation, Anders Dorph and the rest of the Danish Gambling Authority were very excited: “It’s one thing for us in little Denmark to think it was an unconventional campaign, but would our colleagues in the rest of the world understand the irony or would they think it was really about being enticed to play?”
The concern was put to rest when Anders Dorph, on behalf of the Danish Gambling Authority, lifted the trophy for the award, which was won in competition with three other countries’ campaigns.
“There was a great diversity in the nominees’ submissions, reflecting our members’ increasing efforts to improve the regulation of the gambling market,” said Sarah Kelly, Vice President of IAGR.
Campaign with impact
Subsequent surveys among the target audience showed that the One-Armed Bandit had actually made them reflect on their relationship with gambling: 44% said the campaign had made them think about how often they gamble and how much money they spend and 41% indicated that they have talked to their friends about how difficult it can be to control their gambling.
“It’s fantastic to be able to say that we have made a difference,” said Anders Dorph, who is also aware that the great results are a contributing factor to the authority being able to take home the international award from Rome.
He is joined by Sarah Kelly from IAGR: “The winners stood out for their commitment to improving standards to regulate the gaming market for the benefit of both industry and consumers.”
The agency Advice, in collaboration with the Danish Gambling Authority, is behind the campaign, which features comedian David Minerba in the role of the One-Armed Bandit.
The post International Accolade for Campaign from the Danish Gambling Authority appeared first on European Gaming Industry News.
Industry News
ECA Announces Winners of Diversity and Inclusion Scholarship to the EDP 2024
The European Casino Association (ECA) has announced the winners of its esteemed Diversity and Inclusion Scholarship for the Executive Development Programme of the Universities of Las Vegas and Reno.
“Our jury has made their selection, and we extend our heartfelt congratulations to: Siham Makrache, Director of Marketing & Communications at Grand Casino Brussels, Belgium and Vesna Goričan Čač, Marketing Manager, Mond, Resort & Entertainment, HIT Universe of Fun, Slovenia,” the Association said.
Now in its landmark seventh year, ECA’s initiative continues to champion diversity and inclusion within the European casino industry by offering two scholarships annually to ECA member employees, providing fully-funded participation in the renowned Executive Development Programme at Lake Tahoe, USA.
The Executive Development Programme (EDP), a partnership between UNLV International Gaming Institute and the University of Nevada, Reno, stands as the pinnacle of gaming leadership education. This intensive 8-day professional development programme, now in its 35th year, is tailored for future C-suite executives in the gaming industry. With over three decades of excellence and more than 1600 alumni worldwide, the EDP focuses on developing leadership, management, and strategic thinking skills. It emphasises strategic issues in casino gaming while providing global networking opportunities, offering participants a unique chance to establish lasting professional relationships with industry peers.
ECA Board Member Tiina Siltanen underscores the importance of this initiative, stating, “Promoting diversity and inclusion in the land-based casino industry remains a cornerstone of the ECA’s mission. These scholarships play a pivotal role in fostering these values, providing opportunities for underrepresented groups to rise in the industry and bring unique perspectives to decision-making roles.”
The ECA firmly believes that a diverse and inclusive environment enhances employee engagement and satisfaction. The scholarships awarded to the Executive Development Programme are instrumental in nurturing these values within the land-based casino sector, creating pathways for currently underrepresented groups to ascend in the industry and contribute their unique perspectives to decision-making roles.
The ECA extended its sincere gratitude to its partners – Clarion, AGEM, and the Universities of Las Vegas and Reno – for their unwavering support and commitment to this transformative scholarship programme. Their ongoing dedication ensures that all costs, including travel, accommodation, and the training programme, are covered for the scholarship recipients.
This initiative not only enhances employee engagement and satisfaction but also propels the European casino industry towards a more diverse and inclusive future.
The post ECA Announces Winners of Diversity and Inclusion Scholarship to the EDP 2024 appeared first on European Gaming Industry News.
Industry News
Betsson Group Triumphs at the EGR Operator Awards 2024, Securing Five Major Wins
Betsson Group has once again proven its dominance and dedication to excellence, taking home five awards at the EGR Operator Awards 2024. This year’s event, held in London, saw the industry’s best gathered to celebrate outstanding achievements, and Betsson emerged as one of the night’s biggest winners.
The accolades this year include top honours in the categories of Sports Betting Operator, Customer Services Operator and ESG Strategy of the Year, with Betsson also securing a silver award for Operator of the Year. Additionally, Jonna Danlund, Head of ESG at Betsson, received the coveted Individual Achievement Award, reflecting Betsson’s leadership in both industry standards and sustainable practices.
“As we celebrate these accomplishments, Betsson Group remains focused on the future. Our ongoing investments in innovation, customer service, and responsible gaming will ensure we continue to lead the way in the online gaming industry. The recognitions we’ve received at the EGR Operator Awards 2024 are a testament to the dedication of our teams, the trust of our customers, and our commitment to setting new standards for excellence,” Betsson Group said.
The post Betsson Group Triumphs at the EGR Operator Awards 2024, Securing Five Major Wins appeared first on European Gaming Industry News.
-
Coljuegos7 days ago
574 Slot Machines, Bingo Halls and Online Betting Modules were Destroyed by Coljuegos
-
Aztec Jaguar7 days ago
SYNOT Games Launches Progressive Bonus with BetPlay
-
Albert Bellavista CEO at Betsala7 days ago
Livespins now available at Chile’s Betsala
-
Compliance Updates7 days ago
UGC Once Again Appeals to Google to Stop Blocking Legal Gambling Ads
-
Compliance Updates7 days ago
Dutch Gaming Authority Imposes Penalty Payment Order on BlokDance BV
-
Balkans6 days ago
WorldMatch Announces Partnership with Slotino
-
Central Europe7 days ago
Digitain and LeBull.pl Join Forces with a New Exciting Partnership
-
Africa7 days ago
SIS partners with leading operator 888AFRICA to provide live numbers draws