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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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BC Engine

BC.Game’s new CEO Kar Kheng Giam on strategy, structure and growth

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Following his appointment as CEO of BC.Game in March, Kar Kheng Giam (KK) speaks about the strategic priorities shaping the company’s next phase, from strengthening operational foundations to navigating the evolving role of crypto within regulated gaming markets.

 

 You’ve stepped into the CEO role at a pivotal time for the industry. How do you assess the current position of BC.Game?

BC.Game enters this stage from a position of strength in terms of product, user engagement and global reach.

At the same time, the broader industry is evolving. Expectations around governance, regulatory alignment and operational maturity are increasing, particularly for businesses operating across multiple jurisdictions.

So while the foundation is strong, there is a clear opportunity to further strengthen the structure of the business to support long-term, sustainable growth.

That foundation is reflected in the scale of the business today, with more than 9 million registered users and over 500,000 monthly active players, and in the progress we’ve made across licensed markets such as Anjouan, Kenya, Nigeria and Mexico.

How would you define the strategic focus for BC.Game over the next 12 to 24 months?

It comes down to three interconnected areas. First, reinforcing the operational and governance framework of the business, ensuring we are well aligned with the expectations of more established regulatory environments.

Second, continuing to invest in the product – not just in terms of content, but in the overall user experience and platform reliability.

And third, taking a disciplined approach to market expansion, focusing on jurisdictions where we can build a sustainable and compliant presence.

It’s about evolving the business in a structured and deliberate way.

You’ve highlighted governance and structure. What does that mean in practical terms?

It means putting in place the systems, processes and organisational clarity needed to operate at scale.

As companies grow internationally, complexity increases – across regulation, payments, technology and operations. Strengthening governance is about ensuring those elements are well coordinated and consistently managed.

This is not about changing what BC.Game is, but about building the framework that allows it to grow more effectively.

Why has trust become so important at this stage?

At BC.GAME’s scale, trust is no longer just about brand but increasingly becomes a business issue – it affects retention, partnerships, market entry and long-term growth.

And trust is built in very practical ways. People judge a platform by whether the rules are clear, whether communication is smooth, and whether issues actually get resolved. That’s why growth on its own is no longer enough.

Where is the most immediate trust pressure on BC.GAME showing up today?

The pressure shows up most clearly in user experience and issue handling because that’s where people feel it first.

Some of the feedback does point to response times and cases where issues stay in the same entry point for too long. When that happens often enough, it becomes bigger than a service issue, it starts to shape trust.

What changes is BC.GAME putting in place in response to these issues?

 We’ve already started making changes. That includes upgrading how user issues are handled, bringing cross-functional teams in earlier, and improving how issues are identified and coordinated internally.

As the business has grown, relying too heavily on a single customer support entry point is no longer enough. The focus now is to make issue handling clearer, more stable, and better suited to the scale of the platform.

What role does organisational development play in this next phase?

As the business grows, it’s important to ensure that the organisation evolves alongside it. That includes strengthening leadership structures, clarifying roles and responsibilities, and building capabilities in key areas such as compliance and market operations.

Ultimately, strategy is only as effective as the organisation delivering it.

From a leadership perspective, how do you approach guiding a globally distributed business?

In a global organisation, alignment is critical – everyone needs to understand the strategic direction and how their role contributes to it. At the same time, there needs to be flexibility to adapt to local market dynamics.

My role is to create that balance – providing clear direction while enabling teams to execute effectively within their markets.

Finally, what does success look like for BC.Game over the next few years?

Success is about building a more structured, resilient and trusted business.

That means strengthening our position in regulated markets, continuing to evolve the product, and ensuring the organisation is equipped to operate at scale. This current period is a crucial one for us as we introduce multiple product rollouts at BC.GAME, with several key updates scheduled to go live. These include BC Engine, along with a broader upgrade to the bonus system and, of course, the World Cup.

If we can achieve that through consistent, incremental progress, then we will be well positioned for the long term.

The post BC.Game’s new CEO Kar Kheng Giam on strategy, structure and growth appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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Belgrade Future Gaming 2026

NOVOMATIC to Showcase Strong Portfolio and Regional Highlights at Belgrade Future Gaming 2026

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NOVOMATIC is going to participate in Belgrade Future Gaming 2026 on May 26-27. At the event, the company will showcase a powerful and regionally tailored portfolio, underlining its strong market position and long-standing commitment to Southeast Europe. Visitors to the NOVOMATIC booth can expect a carefully curated mix of high-performing linked progressive solutions, advanced game content and premium cabinet experiences – all designed to meet the specific preferences of the Balkan market.

A key highlight of this year’s showcase is the Impera Line HD Edition 10 – Balkan Special, specifically developed to address regional player demands with a customised selection of popular game content. The presentation is further strengthened by Impera PROLINK 2, delivering engaging linked progressive gameplay and multi-feature performance on international casino floors.

NOVOMATIC’s internationally successful linked progressive portfolio will be prominently featured with multiple entries from the XTENSION LINK series, including Volumes 2, 3, 4 and 5, as well as XTENSION LINK Ultimate, offering a broad range of game styles and mechanics that continue to resonate strongly with players worldwide.

Another major attraction is VISION LINK, NOVOMATIC’s latest multi-feature linked progressive concept, combining modern gameplay design, five-pot mechanics and the popular LOCK&SPIN feature to create an engaging and scalable player experience.

The showcase is complemented by the GAMINATOR X5, a proven performer known for its strong game mix and versatile customization options, allowing operators to configure tailored package setups aligned with local player preferences.

Taking center stage is the DIAMOND X QUATTRO 1.55J, NOVOMATIC’s flagship cabinet and winner of the “Best Slot Machine” category at the prestigious European Casino Awards 2026. Combining a striking 55-inch J-curved UHD display with a refined glass touch deck and premium sound experience, the DIAMOND X QUATTRO 1.55J delivers exceptional visual impact and immersive gameplay, making it a standout centerpiece on any gaming floor.

NOVOMATIC will also present a premium setup of V.I.P. X cabinets, including the V.I.P. X Royal 1.85 and the award-winning V.I.P. X Galaxy 2.65 cabinet, paired with top-performing content and demonstrating high-end gaming solutions for modern casino environments.

“With our presence at Belgrade Future Gaming, we are reaffirming NOVOMATIC’s strong commitment to Southeast Europe. Our portfolio combines proven international performance with tailored regional content. From advanced linked progressive solutions such as VISION LINK and the XTENSION LINK series to customized offerings like the Impera Line HD Edition 10 – Balkan Special, we are delivering solutions that meet the specific expectations of our partners and players in this region,” said Miloš Pejić, Regional Manager SEE at NOVOMATIC.

The post NOVOMATIC to Showcase Strong Portfolio and Regional Highlights at Belgrade Future Gaming 2026 appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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Daniel Cuc

REEVO Announces New Partnership with Tuko Productions

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REEVO has announced a new partnership with Tuko Productions, a well-established Italian game development studio and content provider. This collaboration further strengthens REEVO’s aggregation ecosystem, expanding its offering with a portfolio of proven, performance-driven titles developed for one of Europe’s most competitive regulated markets.

Through this partnership, Tuko’s extensive catalogue is now available on the REEVO aggregation platform, giving operators seamless access to a wide range of video slots, table games and instant games through a single, efficient integration. The addition of Tuko reinforces REEVO’s commitment to delivering high-quality content that performs across regulated environments.

For REEVO, this partnership represents another important step in building a high-performance aggregation platform that combines innovation with reliability.

Daniel Cuc, Head of Account Management at REEVO, said: “Partnering with Tuko is a strong step forward for REEVO as we continue to expand our aggregation platform with proven and high-performing content. Tuko brings a catalogue that has already demonstrated its strength in one of the most competitive regulated markets in Europe, which adds real value to our ecosystem. At REEVO, we are focused on delivering content that performs and supports operators in achieving strong results, and this partnership reinforces that commitment.”

Tuko’s portfolio reflects years of collaboration with leading operators in the Italian market, resulting in games that deliver consistent engagement and performance across a wide range of player preferences. By joining the REEVO platform, Tuko gains access to a broader international distribution network while contributing to REEVO’s growing content ecosystem.

Vincenzo Tancredi, Head of Sales at Tuko, said: “Our catalogue has been built alongside the most important operators in the Italian regulated market, and that experience is reflected in every title we deliver. Through REEVO’s aggregation platform, we are able to extend the reach of our content and bring a proven portfolio to a wider network of operators.”

The post REEVO Announces New Partnership with Tuko Productions appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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