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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.

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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.

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Kambi’s quarterly results podcast can be found here.

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Gamban Begins Providing Gambling Support Services in Finnish

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Gamban has started providing services in Finnish language.

Gambling is deeply embedded in Finnish culture, and while there are efforts to curb the harms arising from it, many still struggle to find practical tools. By adding Finnish, Gamban is ensuring that more people can take control of their gambling habits without language barriers standing in the way.

“Language should never be a barrier to accessing help. By introducing Finnish to Gamban, we’re ensuring that more people in Finland can access the tools they need. We hope this update makes the process of blocking gambling on devices more intuitive and effective,” Jack Symons, CEO of Gamban, said.

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In Finland, Gamban is partnered with Veikkaus, the government owned betting agency which currently holds a monopoly in the country. Through this partnership fully paid for Gamban licences are distributed free of charge to customers.

“Veikkaus has built a comprehensive and unique safer gambling environment for our customers, and Gamban is an additional service to those who want to make a self-exclusion to all Veikkaus games. It’s also offered to customers with signs of risky behaviour when they are contacted through care calls. Gamban has been a really helpful service, and we are happy that it’s now available in Finnish,” said Susanna Saikkonen, VP Sustainability at Veikkaus.

The post Gamban Begins Providing Gambling Support Services in Finnish appeared first on European Gaming Industry News.

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Amusnet Introduces “Tournaments” to Elevate Online Gaming Engagement

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Amusnet has introduced its latest promotional tool designed to enhance player engagement and boost operators’ performance. Tournaments reinforces Amusnet’s commitment to excellence, ensuring that its global network of partners can thrive in a competitive landscape and enjoy sustained success in the ever-evolving online gaming industry. With an intuitive interface, customisable tournament formats and seamless integration, this powerful tool is set to upgrade the online gaming experience and increase retention.

This versatile promotional tool enables operators to create highly engaging, dynamic tournaments that captivate players and encourage continuous participation. Whether it’s a time-limited challenge, a leaderboard-driven contest or an exclusive high-stakes competition, the tool offers complete flexibility to tailor rules, prizes and winning criteria to any gaming audience.

By implementing Tournaments, operators can enhance retention, increase activity and upscale revenue with its key features:

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• Quick & Easy Setup – Create tournaments seamlessly with intuitive tools.

• Customisable Rewards – Offer cash, free spins or exclusive prizes.

• Diverse Win Criteria – Set different conditions for varied gameplay styles.

• Seamless Integration – Effortless integration into the Amusnet system for a smooth experience.

• Increased Retention & Revenue – Drive higher engagement and bets with Recurring tournaments.

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Designed to boost engagement, the tool empowers operators of any scale to run dynamic, competitive events, providing endless possibilities for exciting gameplay experiences. Tournaments can be easily accessed through the newly upgraded Client Portal, where operators can request activation via the dedicated Request Form. With a seamless and efficient interface, the portal ensures partners have everything they need to optimise their gaming offerings and drive long-term success.

The post Amusnet Introduces “Tournaments” to Elevate Online Gaming Engagement appeared first on European Gaming Industry News.

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MGB Completes Migration of betM to BetMakers’ Apollo Platform

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BetMakers Technology Group has announced that betM has successfully migrated to BetMakers’ state-of-the-art Apollo platform and will now utilise BetMakers’ Managed Trading Services (MTS).

After operating in the Australian market for the past three years, betM sought to enhance its technological infrastructure and service offerings. The transition to the Apollo platform represents a strategic move to leverage BetMakers’ cutting-edge technology and comprehensive MTS suite.

BetMakers and betM agreed to terms in mid February, and within just six weeks have successfully launched betM after completing a smooth data migration of the existing customer base, providing a seamless journey with minimal operational impact.

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The Apollo platform is designed to provide wagering operators with a seamless, efficient and scalable solution, enabling them to deliver superior betting experiences to their customers. By integrating with BetMakers’ MTS, MGB aims to optimise its trading operations, manage risk more effectively and expand its market presence.

This partnership underscores BetMakers’ dedication to empowering operators with advanced solutions that drive business growth and enhance user engagement.

Ryo Kitamura, Chief Executive Officer at MGB, said: “We are delighted to have completed the migration to BetMakers’ new Apollo platform. We’ve been able to achieve the switch very quickly and we are now ready to provide new and existing customers with an advanced betting solution. We are very excited about the upcoming products available through Apollo and the opportunity to work with the BetMakers team to deliver the best possible results”

Lucas Hopkins, Head of Commercial at BetMakers, said: “BetMakers is very pleased to welcome betM to the BetMakers’ Apollo platform. I’m incredibly proud of the speed and precision the team has shown in handling the migration of an existing business from another technical solution. We are excited about sharing our roadmap of new features with betM and are thrilled to get this validation for the hard work and planning that the team have put into building the Apollo platform.”

The post MGB Completes Migration of betM to BetMakers’ Apollo Platform appeared first on European Gaming Industry News.

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