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Kambi Group plc Q3 Report 2020

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Financial summary

  • Revenue amounted to €28.1 (Q3 2019: 23.0) million for the third quarter of 2020, an increase of 22%, and €70.8 (65.6) million for the period January to September
  • Operating profit (EBIT) for the third quarter of 2020 was €6.5 (3.4) million, at a margin of 23.3% (14.9%), and €10.0 (8.6) million for the period January to September, at a margin of 14.2% (13.0%)
  • Profit after tax amounted to €5.1 (2.3) million for the third quarter of 2020 and €6.8 (5.8) million for the period January to September
  • Earnings per share for the third quarter of 2020 were €0.164 (0.075) and €0.220 (0.193) for the period January to September
  • Cash flow from operating and investing activities (excluding working capital movements) amounted to €6.9 (2.6) million for the third quarter of 2020 and €8.2 (4.2) million for the period January to September

 

Key highlights

  • Posted record quarterly performance with revenue up 22% year-on-year and operator turnover rising 62%, driven by the resumption of sports culminating in a busy September calendar
  • Expanded partner network through the signing of major US operator Churchill Downs Incorporated and its BetAmerica sports betting brand
  • Signed a long-term extension with LeoVegas Group, cementing the partnership and extending the agreement to cover additional brands
  • Continued to deliver for partners with 17 launches throughout the quarter, including the online launch of Penn National Gaming’s Barstool Sportsbook in Pennsylvania

“The difference between Q2 and Q3 couldn’t have been starker and underlines the ability of the business to quickly and efficiently respond not only to the lockdown situation, but also ensuring resources were in place for when sports returned. It’s reassuring for our partners to experience the capability and inherent flexibility Kambi has to adapt and thrive under testing conditions and we are confident in our ability to handle any potential future impacts that may arise from the virus. It’s also been reassuring to see that, despite some heightened local restrictions, there’s been no impact on high-level sports.

Momentum gained late in Q2 carried through to Q3, with Kambi posting record quarterly revenue of €28.1m. Operator turnover was also up significantly to an all-time high, rising 62% year-on-year. The gradual return of sports drove greater volumes throughout the period, particularly during September, which produced 43% of the operator turnover for the quarter. This positive trend has continued into the start of Q4.

During the quarter, we were able to complete two important pieces of business. Firstly, we signed a new partner in Churchill Downs Incorporated (CDI), a large US multi-state company and operator of the BetAmerica sportsbook brand. We are already live on-property with BetAmerica in two states and will launch online in the near future. CDI has already enjoyed digital success with its TwinSpires horserace wagering business and has the ambition to turn BetAmerica into a similar success story.

Secondly, the extension of our partnership with the LeoVegas Group. The agreement will see Kambi continue to provide our services to the LeoVegas Sport brand and carry on what has been an exciting journey so far. In addition, we will also provide our sportsbook to additional brands within the Group.

It was also another busy quarter in terms of launches, culminating in the much-anticipated launch of Penn National Gaming’s (PNG) proprietary Barstool Sportsbook app in Pennsylvania in mid-September, which has delivered promising early performance numbers. The app, 100% of which was developed in-house by PNG, is just the latest example of what’s possible when using Kambi’s empowering technology.

As we near the end of 2020, the cautious optimism of earlier in the year has been replaced with growing confidence, as we finish the year in great shape. Looking ahead, having successfully come through our toughest challenge, more exciting opportunities await us.”

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.

Kambi’s quarterly results podcast can be found here.

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ELA Games reports 201.9% betting volume jump in Greece over two quarters

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ELA Games says it has delivered triple-digit growth in Greece over the last two quarters, reporting an 86.30% increase in active users, a 77.20% rise in turnover, and a 201.90% surge in overall bet counts.

The supplier attributed the results to aligning its content with local player preferences and said its Greece performance has been driven by certified titles focused on visual design and “narrative-led experiences.”

ELA Games named Piñatas Festival, Riches Express, and Flame Fruits Frenzy as its top-three performing titles in Greece during the period.

The company also linked the performance to a new strategic partnership with Fonbet in Greece. ELA Games said the integration creates an exclusive hub for its content and expands access to its catalogue for local players.

Yaroslav Soloshenko, Business Development Team Lead at ELA Games, said: “When we look at the numbers, it is satisfying to see that our regional strategy is paying off in such a big way. We spend a lot of time analyzing what players in specific markets want to see. Our unique design philosophy combined with that regional focus has resulted in proven commercial success across our main European markets, and Greece is a perfect example of that in action.”

The post ELA Games reports 201.9% betting volume jump in Greece over two quarters appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.

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Midnite signs Middlesbrough shirt deal, renews Sheffield United sponsorship

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Midnite has agreed a principal partnership with Middlesbrough FC that will put the bookmaker on the club’s front of shirt for the 2026/27 season. The brand will also continue as principal partner of Sheffield United FC for a second consecutive year, also including front-of-shirt sponsorship.

Midnite said the Middlesbrough agreement will run during the club’s 150th season and will include a supporter-facing activation called “This Season’s On Us”. The company said the initiative will offer prizes including men’s or women’s season tickets, 2026/27 home and away shirts, hospitality tickets and a £25 club shop voucher, with participation described as first-come-first-served via trivia and football challenges.

For Sheffield United, Midnite is launching a new matchday promotion called 2UP. Midnite said if Sheffield United go two goals up in a home league match, “one lucky fan will win the 2UP prize pot”. The Sheffield United 2UP prize fund will start at £10,000 when the season begins in August, with £1,000 added for every home league fixture, according to the company.

Andrew Mook, Midnite‘s Head of Brand Marketing, said:

“The Championship is one of the most viewed football leagues in the world, with some iconic and historical names from English football competing in it. We are looking forward to being a part of the action by partnering with two of the league’s biggest clubs in what should be another thrilling season.

“Middlesbrough are a club with a storied history and we’re delighted to announce this partnership during such a monumental year with the club celebrating their 150th anniversary.

“We are also delighted to be Sheffield United’s principal partner for a second consecutive season after a really exciting first year. We’ll be looking to create even more memorable fan experiences in the upcoming season.”

Midnite said the 2UP campaign will run across all of its Midnite-sponsored Championship clubs and referenced a separate front-of-shirt deal announced last month with Wolverhampton Wanderers. The company also highlighted other UK sports marketing activity, including a renewed sponsorship with the World Snooker Tour for the World Snooker Championship and a UK betting and casino partner designation for the 2026 Johnstone’s Paint Masters.

The post Midnite signs Middlesbrough shirt deal, renews Sheffield United sponsorship appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.

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Gaming Realms signs SIS licensing deal to build Slingo 49’s game

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Gaming Realms has signed a licensing agreement with SIS to develop a Slingo title based on SIS’s fixed-odds live numbers draw product, 49’s. The companies announced the deal on 2nd July 2026.

The agreement marks the first time SIS has licensed IP from its numbers portfolio, according to the companies. A Slingo version is scheduled to launch in July 2026, incorporating 49’s branding, theme tune and live presenters within the game.

Gaming Realms said the game will use its Slingo mechanic, with players spinning a reel to match numbers on a board and progress up a “Slingo ladder” for increasing prizes. Slingo 49’s will be distributed to Gaming Realms’ global operator partners, with the companies highlighting the strongest appeal in the UK and Africa.

Gareth Scott, Chief Commercial Officer at Gaming Realms, said: “Partnering with SIS to bring the iconic 49’s and Slingo together is a fascinating collaboration. The 49’s live draw is an adjacent gaming vertical and one of the most popular numbers products internationally, with a loyal following built over decades.

Jess Mills, Head of 49’s at SIS, said: “We’re delighted to partner with Gaming Realms to bring 49’s to life in a completely new format. The 49’s live draws have an extraordinary heritage and a passionate, global fanbase, so the decision to license our IP was not one we took lightly. Gaming Realms’ track record with Slingo gave us every confidence that this was the right partnership to make that step.

“Slingo is the ideal vehicle to introduce 49’s to a new player vertical, while keeping the authenticity that existing fans love at the heart of the experience.”

The post Gaming Realms signs SIS licensing deal to build Slingo 49’s game appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.

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