Latest News
Kambi Group plc Q1 Report 2021
Financial summary
- Revenue amounted to €43.2 (Q1 2020: 27.9) million for the first quarter of 2021, an increase of 55%
- Operating profit (EBIT) for the first quarter of 2021 was €18.7 (6.8) million, an increase of 173%, at a margin of 43.2% (24.5%)
- Profit after tax amounted to €15.1 (4.8) million for the first quarter of 2021
- Earnings per share for the first quarter of 2021 were €0.487 (0.156)
- Cash flow from operating and investing activities (excluding working capital movements) amounted to €16.5 (4.1) million for the first quarter of 2021
Key highlights
- Operator turnover index exceeded 1,000 mark for first time, equating to a x10 growth since Kambi’s first quarter post-listing in 2014
- Strong revenue growth of 55% year-on-year at an operator trading margin of 8.5%
- Continued US expansion with launches across a number of jurisdictions including Michigan, Illinois, Virginia and Arkansas – the latter became the 14th state in which Kambi provides regulated sports betting
- Strengthened global network through new partnerships with Racing & Wagering Western Australia and Casino Magic, extended partnership with Napoleon Sports & Casino
“I’m pleased to report the exceptional performance we produced during the latter part of last year has continued into 2021, with significant growth across a range of KPIs including operator turnover, revenue and operating margin. We also continued our impressive commercial momentum with new partner signings and extensions in key target markets. The operator turnover index surpassed 1,000 for the first time after a record quarter which saw operator turnover more than double year-on-year, with the caveat of the final fortnight of Q1 2020 impacted by COVID-19. This strong performance was driven by a busy sporting calendar, including the end of the NFL season and the March Madness college basketball tournament, and more than compensated for the planned migration of a large proportion of 888’s business off the Kambi sportsbook in January.
Revenue growth was also exceptionally strong at 55%, with operator trading margin of 8.5% for the quarter. The business was once again able to demonstrate its scalability with an operating margin of 43%, which was particularly pleasing to see in a quarter played out in an environment more reflective of the pre-pandemic landscape, as we transition back to something more akin to normality.
From a commercial perspective, and as detailed in our previous report, we signed new partnerships with Racing & Wagering Western Australia (RWWA) and Casino Magic. Within weeks of signing with Casino Magic, our sportsbook was live in Neuquén, Argentina, strengthening our position in the promising South American market, while we continue to work with RWWA on the transition of its existing business to Kambi from its current provider. In addition to signing two new partners, it was great to strengthen our partnership with Napoleon Sports & Casino, and we look forward to building further on this long-term relationship in the years to come.
As ever, the quarter saw Kambi continue to support the expansion of partners across the globe, averaging a partner launch every week throughout the reporting period. In addition to the launch of Casino Magic, we supported US-facing partners in states including Michigan, Virginia, Illinois and Arkansas, with the latter becoming the 14th state in which Kambi is live and generating revenue. Although I’ve said it before, it’s worth repeating our market-leading excellence and reliability in the areas of integrations and launches, often working closely with regulators to ensure our partners are first or among the first to go live.
Regulation in the US continues to move at pace, with progress seen in a variety of states in recent weeks and months, perhaps most notably in New York, where the state has committed to adding online sports betting to its existing retail market. As the first company to process a regulated sports bet in New York, we’re of course monitoring the developing situation there closely and look forward to the publication of further details concerning the licensing framework in due course.
In the meantime, our teams are busy preparing for what will be a special summer of sports, with major events such as the delayed Euro 2020, Copa America and Olympic Games, as well as the return of annual summer tournaments including Wimbledon and The Open. In addition, this year should see a full MLB season played out, with a high volume of games to be played throughout the summer months. As always, our partners will have a first class offering across all sports and competitions, and as sports fans we have a lot to look forward to.”
Powered by WPeMatico
Latest News
TENTENSEVEN MARKETING AGENCY LAUNCHES WITH €500K INVESTMENT FROM THE UNIT
As part of The Unit’s company restructure, its highly successful in-house marketing division will be launched as an agency serving iGaming and sports betting industries
The Unit, a leader in product design and development for sports betting and iGaming, has invested €500,000 to launch marketing agency tentenseven. This exciting transformation of The Unit’s in-house marketing division marks the latest step in its growth strategy and expansion roadmap.
Following an expansion in The Unit’s marketing offering, the marketing team will now operate as tentenseven, which will stand as its own entity. On top of paid search and marketing planning, tentenseven will offer SEO, PPC, social media, brand strategy, editorial content, influencer marketing services and social media production among its many areas of expertise.
Feargal Byrne, Director of Strategic Marketing at The Unit, will head up the new phase of growth at tentenseven as Director of iGaming, Ecommerce and Fintech.
In January, The Unit announced a refresh of its visual brand identity, including a new company logo and redesigned website, which reflected the company’s recent growth and ambitious expansion plans. These expansion plans were signified by the recent opening of The Unit’s North American hub in New York City. As part of the brand refresh, the company is focusing on product design and development, with the marketing side of the business now operating as a standalone agency.
Paddy Casey, Co-founder at The Unit, said: “After kicking off 2025 with our brand refresh, we are redefining our structure as a business. With additional funding in place, we think now is the right time for tentenseven to stand in its own right as a marketing leader in the industry. With this investment, tentenseven has the means to grow and maximise its potential in the coming years. We expect to see tentenseven expand in the short and long-term, just as we expect with The Unit.
“In his time with The Unit, Feargal has demonstrated his ability to help clients develop their marketing strategies, establishing channel-level approaches across PPC, social and SEO. Feargal is perfectly positioned to run tentenseven and steward the company into this new and exciting era.”
Feargal Byrne added: “I am delighted to be given the opportunity to lead tentenseven as Director of iGaming, Ecommerce and Fintech.
“This is an exciting period for The Unit as a company, and with this significant investment, tentenseven will have the capability to expand and make further headway in the market. That’s great news not just for us, but also for our clients. I can’t wait to get started on this project with the team and I look forward to putting our plans for tentenseven into action as quickly as possible.”
The post TENTENSEVEN MARKETING AGENCY LAUNCHES WITH €500K INVESTMENT FROM THE UNIT appeared first on European Gaming Industry News.
Compliance Updates
UKGC Launches Latest Consultation on Gaming Machine Technical Standards
The Gambling Commission has launched a new consultation aimed at making gambling in Britain safer and fairer.
This is the Commission’s third consultation to implement proposals from the 2023 Gambling Act Review White Paper High stakes: gambling reform for the digital age.
The consultation, which will run for 16 weeks (from 29 January 2025 to 20 May 2025), is focussed on the gaming machine technical standards and the related testing strategy. It includes proposals to:
• introduce five new standards, a licence condition and a social responsibility code provision designed to support and empower consumers to use gaming machines safely at every stage of the customer journey – this includes proposals on time and monetary limit setting functionality and information provision such as safer gambling messaging and the display of net position and session time
• amend three existing standards having considered industry proposals to improve customer enjoyment and gameplay
• consolidate the existing 12 gaming machine technical standards into a single standard, whilst amending the format to be more consistent with our Remote gambling and software technical standards for greater clarity
• update the gaming machine technical standards and the related testing strategy to remove obsolete material.
Tim Miller, Gambling Commission Executive Director for research and policy, said: “The White Paper sets out that a top priority is ensuring that gambling happens safely. We share this commitment and today’s consultation proposes how we could implement gaming machine changes in the land-based sector.
“We recognise that regulatory changes that impact the design of machines can come with considerable costs. We are encouraging consumers, gambling businesses and other interested groups to share evidence that will assist us in measuring both the likely regulatory impacts of the proposed changes and the likely costs of implementing them. This evidence will be invaluable to helping make a robust assessment on whether the benefits to consumers are proportionate to the costs involved.”
The post UKGC Launches Latest Consultation on Gaming Machine Technical Standards appeared first on European Gaming Industry News.
Compliance Updates
Permanent Secretary for the Economy Visits MGA Offices
On Tuesday, 28 January 2025, the newly appointed Permanent Secretary within the Ministry for the Economy, Enterprise, and Strategic Projects, Mr Godwin Mifsud, paid an official visit to the Malta Gaming Authority (MGA/Authority) offices at SmartCity. He was greeted by MGA CEO Charles Mizzi, alongside members of the MGA Executive Committee and staff.
During his visit, Mr Mifsud was given a tour of the Authority’s offices and had the opportunity to engage directly with team members from various departments. These interactions provided him with a deeper understanding of their responsibilities, the core functions of each department and the challenges they face in their day-to-day work.
The MGA CEO outlined the Authority’s strategic direction to Mr Mifsud and shared details of key projects currently underway, as well as those planned for the future.
The post Permanent Secretary for the Economy Visits MGA Offices appeared first on European Gaming Industry News.
-
Golden Nugget Atlantic City7 days ago
Golden Nugget Atlantic City Announces Re-opening of Sportsbook with New, Innovative Technology and Expanded Betting Markets
-
Compliance Updates7 days ago
MGCB Executive Director Applauds Reappointment of Board Member Deidre A. Lambert-Bounds by Governor
-
Latest News7 days ago
BetConstruct Introduces The Last Battle Universe B2B Reward Feature for Partners
-
Gambling in the USA7 days ago
Spinomenal makes US debut with New Jersey market entry
-
Hard Rock International7 days ago
Hard Rock Bet, Unity by Hard Rock Loyalty Programs Come Together for Unprecedented Rewards
-
eSports7 days ago
NIP Group Partners with Abu Dhabi Investment Office to Accelerate Abu Dhabi’s Esports Industry
-
Latest News7 days ago
New GambleAware-commissioned Research Warns of High Risks from Gaming Machines, Online Casino Games and Loot Boxes
-
Gambling in the USA7 days ago
Gila River Resorts & Casinos hosts $5.9 million Big Game prop play contest