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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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Games Global and Nailed It! Games launch Raging Gods: Olympus 2 POWER COMBO

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Greek mythology slot sequel adds new modifiers and keeps a 5,000x maximum win

Games Global, working with exclusive studio partner Nailed It! Games, has released Raging Gods: Olympus 2 POWER COMBO™, a Greek mythology-themed slot sequel. The title uses a 5×3 reel layout with 20 paylines and features a maximum win potential of 5,000x, according to the companies.

The game builds on the original with an expanded POWER COMBO™ bonus game and new feature modifiers. Games Global said the new additions include Prize Double, which multiplies all Prize Symbol values on the board by 2x, and the Power Symbol, which upgrades individual prize values as spins continue.

The POWER COMBO™ bonus game can be unlocked by any bonus symbol, with all symbols that land on the feature-activating spin awarding their respective modifiers. Returning mechanics include Prize Booster (increasing Prize Symbol values by up to 5x), Extra Collect (gathering all visible cash values without removing symbols), and Instant Jackpot (awarding one of four fixed jackpots).

A SUPER collection can also open access to the POWER COMBO™ feature, activating two or more mechanics at the same time once completed. During the feature, Jackpot Gem Symbols contribute towards four fixed jackpots — Mini at 10x, Minor at 20x, Major at 200x and Mega at 5,000x — with multiple jackpots available within a single round.

Paweł Piotrowski, Co-Founder at Nailed It! Games, said: “Raging Gods: Olympus 2 POWER COMBO™ builds on the original by giving the POWER COMBO™ bonus game more flexibility.

“Adding Prize Double and Power Symbol allowed us to expand how features combine, which brings more variation to each round.”

David Reynolds, Director of Games Strategy and Partner Management at Games Global, said: “With Raging Gods: Olympus 2 POWER COMBO™, Nailed It! Games have taken a well-performing concept and pushed it further – adding depth, energy, and new ways for players to engage.

“It’s a clear step up for the series and reinforces the strength of this theme within the Games Global portfolio.”

The post Games Global and Nailed It! Games launch Raging Gods: Olympus 2 POWER COMBO appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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Blokotech and Evoverse sign on as presenting sponsors for iGaming Real Talk at BiS SiGMA South America

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Blokotech and Evoverse have joined as presenting sponsors of iGaming Real Talk’s content series recorded live at BiS SiGMA South America in Brazil.

According to iGaming Real Talk, the Brazil edition follows its AIBC Eurasia Dubai coverage and focuses on the LatAm iGaming market “especially since the market was regulated.” The partnership covers the full series, which iGaming Real Talk said delivered 11 in-depth interviews and more than 30 short-form video clips filmed on the expo floor.

The series includes interviews with executives and founders, including Heathcliff Farrugia (SiGMA World), Miranda Guliashvili (SOFTSWISS) and Dominic Sawyer (TEQUITY), among others.

Surya Palli, Founder of iGaming Real Talk, said: “BiS SiGMA South America has quickly become a key meeting point for the LatAm iGaming ecosystem. Partnering with Blokotech and Evoverse allows us to scale the reach of these conversations and continue building a platform that showcases real insights from across the industry.”

iGaming Real Talk said the Brazil edition is part of its “Real Roadshow 2026” content plan and is positioned around the region’s post-regulation market evolution.

The post Blokotech and Evoverse sign on as presenting sponsors for iGaming Real Talk at BiS SiGMA South America appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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game-mechanics

Microgaming rolls out Link & Merge mechanic with three-slot launch on 29 April

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Microgaming is launching a new slot mechanic, Link & Merge, on 29 April via the simultaneous release of three titles: Almighty Zeus Wilds Link&Merge, Lucky Twins Wilds Link&Merge and 123 Soccer Link&Merge.

The Link&Merge feature is positioned as a variation on Hold & Spin-style gameplay. When five or more adjacent Coin symbols land, they link and merge into a single higher-value symbol. The merge then triggers one of three bonus outcomes: Jackpot, Multiply or Spread, with the potential for additional Coin symbols to land and create further merges.

Microgaming is pairing the mechanic with three themes at launch: Almighty Zeus Wilds Link&Merge, Lucky Twins Wilds Link&Merge and 123 Soccer Link&Merge. The supplier said each title uses the Link&Merge bonus within a shared core framework that includes cluster wins, Wild Meter progression, Free Spins and Multiplier Trail functionality.

A Microgaming spokesperson said: “Link&Merge gives us a mechanic with real forward momentum. Each merge has the potential to change the shape of the feature, open up new opportunities and keep the round moving in a way that feels both familiar and fresh. By launching three games around it simultaneously, we are able to give the mechanic a much bigger stage from day one and show the range it can bring to the Microgaming portfolio.”

The post Microgaming rolls out Link & Merge mechanic with three-slot launch on 29 April appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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