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Kambi Group plc Q3 Report 2020
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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Online casino brand WinSpirit has received Special Recognition in the Most Innovative Online Casino Operator category at the European iGaming Awards, held on January 19 — a respected industry event celebrating excellence and innovation across the global iGaming sector.
Since launching in 2022, WinSpirit has rapidly gained attention for its dynamic approach to product development, player engagement, and platform growth. The brand blends innovative tools with entertainment-driven experiences, earning recognition from both users and the wider industry.
Over the past year, WinSpirit has introduced interactive formats like WinSpirit Stories and Threads, expanded its real-time Gift Shop loyalty system, and continued to invest in smart personalisation features. This has contributed to significant growth across key areas, including retention, session frequency, and VIP activity.
The award adds to the brand’s growing list of accolades, which already includes Rising Star (SBC Awards), Voice of the People (Casino Guru Awards), and World’s Best Online Casino (World Casino Awards). WinSpirit also maintains top-tier player ratings across major review platforms, including 4.6/5 on Trustpilot and 8.9/10 on AskGamblers.
With this Special Recognition from the European iGaming Awards, WinSpirit further reinforces its position as one of the most innovative and dynamic brands in modern online gaming — driven by rapid evolution and a clear player-first vision.
Casino Industry News
WinSpirit receives Special Recognition as Most Innovative Online Casino Operator
WinSpirit, the rapidly ascending online casino brand, has been awarded Special Recognition as the Most Innovative Online Casino Operator at the prestigious European iGaming Awards. The ceremony, held on January 19 in Barcelona, brought together the global iGaming elite to celebrate excellence, technical evolution, and industry-leading innovation.
Since its market debut in 2022, WinSpirit has carved out a distinct identity by prioritizing dynamic product development and immersive player engagement. This latest recognition highlights the brand’s successful efforts to merge cutting-edge technology with entertainment-driven user experiences.
Redefining Player Interaction
The award specifically acknowledges WinSpirit’s aggressive roadmap over the past twelve months. Key milestones that caught the judges’ attention include:
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Interactive Content Formats: The launch of WinSpirit Stories and Threads, which bring a social-media-inspired engagement layer to the gaming platform.
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Loyalty Evolution: The expansion of its real-time Gift Shop loyalty system, rewarding players with tangible value in a seamless, instant-access format.
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Smart Personalization: Continued investment in AI-driven personalization features that tailor the gaming environment to individual player preferences.
These innovations have driven measurable success for the brand, with WinSpirit reporting significant growth in player retention, session frequency, and activity within its VIP tiers.
A Growing Legacy of Excellence
This Special Recognition is the latest addition to a mounting trophy cabinet for the brand. WinSpirit’s previous accolades include:
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Rising Star (SBC Awards)
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Voice of the People (Casino Guru Awards)
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World’s Best Online Casino (World Casino Awards)
Beyond industry awards, the brand maintains exceptional standing with the players themselves, boasting a 4.6/5 rating on Trustpilot and an 8.9/10 on AskGamblers.
As WinSpirit moves into the remainder of 2026, the company reaffirms its “player-first” vision, positioning itself as a primary driver of the next generation of digital gaming.
The post WinSpirit receives Special Recognition as Most Innovative Online Casino Operator appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
Jeff Stelling
OLBG announces broadcasting legend Jeff Stelling as brand ambassador and host of new podcast series
Leading online sports betting community OLBG (Online Betting Guide) has announced Jeff Stelling as its new brand ambassador, which also sees the launch of a new podcast series.
Broadcast legend Stelling has linked up with the influential sports platform to produce revealing interviews with top sports stars and celebrities.
Stelling, one of the UK’s most popular and respected TV and radio personalities, has a black book unrivalled in the sports media and is looking to utilise his contacts on his new podcast.
The Jeff Stelling Show in partnership with OLBG, will see him given free rein to talk with guests about subjects that may have previously been off limits in other roles during his illustrious career.
OLBG is an online platform that provides punters with information, tools and community-led insight. The site offers tips, data-led analysis, operator reviews and educational content across sports betting, casino and bingo, supported by one of the industry’s longest-running tipping communities.
Stelling stories
Stelling said: “I’m absolutely delighted to be joining OLBG and am excited about how we can develop this new podcast series.
“I’ll be inviting guests, some old colleagues and others from the sporting world, to join in the fun and I’m sure there will be some cracking stories for viewers and listeners to hear.
“We’ll cover all the topics sports fans really enjoy, and as with everything over my career there is likely to be no shortage of laughs as well as seriousness.”
OLBG CEO Richard Moffat said: “We’re excited to announce Jeff Stelling as brand ambassador for OLBG and to be launching The Jeff Stelling Show later this year.
“This is a series designed to resonate with the loyal following Jeff has built over decades as one of British sport’s most recognisable personalities and the voice of Saturday afternoon football.”
The post OLBG announces broadcasting legend Jeff Stelling as brand ambassador and host of new podcast series appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
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