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Kambi Group plc Q1 Report 2021

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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

“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.”

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Boomerang Partners and AC Milan to launch ‘Time to Win’, a new Rossoneri hub

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The strategic partnership between Boomerang Partners and AC Milan serves as a good example of effective collaboration between a rapidly growing iGaming brand and one of the world’s most famous football clubs. This partnership will continue within the framework of a new concept, ‘Time to Win’.

What is the ‘Time to Win’ concept

The “Time to Win” concept reflects the essence of both parties. The iGaming industry is characterized by high competition, just like top-level football. AC Milan is the most successful Italian Club at an international level. Boomerang Partners, in turn, aims to become the world’s best sports-focused affiliate program. The company fights for the best product, the best conditions for clients and partners.

Boomerang Partners x AC Milan Hub

At the beginning of 2026, within the ‘Time to Win’ concept, Boomerang Partners will launch the AC Milan hub, a unique web platform aimed at the company’s affiliate partners and users of products from its client portfolio. It will become a must-visit website for many reasons. The site will feature information about:

  • Joint projects and collaborations between the parties;
  • ‘Money-can’t-buy-experiences’ involving visits to AC Milan-related facilities (such as the iconic San Siro Stadium and Mondo Milan Museum);
  • Opportunities to get tickets to AC Milan home matches;
  • Promotions tied to the Club’s top matches
  • Opportunities to meet AC Milan Legends at various events;
  • Special gifts from the Club, including jerseys with autographs

And if a site visitor is a player, they can follow a direct link to the Boomerang-bet website (the flagship project from Boomerang Partners’ client portfolio) and register.

David Monk, Director of Partnerships at AC Milan, commented: “We are delighted to join forces with Boomerang for the launch of Time to Win, an opportunity to bring the AC Milan experience even closer to fans who embody our Rossoneri passion.”

Anton Eshtokin, Chief Marketing Officer at Boomerang Partners, added: “The Time to Win concept reflects the confidence and ambition both sides bring to this partnership.

This season, we’re not just focused on achieving great results in our own fields.

We’re also fully committed to supporting each other every step of the way.”

The first year of partnership

In their first year together, Boomerang Partners and AC Milan created many key moments. Boomerang launched over five co-branded campaigns and produced more than 200 AC Milan-branded creatives. The company’s inaugural affiliate traffic tournament, the Golden Boomerang Awards 2025 ceremony, took place at San Siro Stadium and became the top-performing activation, with 80+ million impressions from co-branded content.

Fan engagement was also high – 500+ participants joined contests, and the overall reach exceeded 40 million. Boomerang Partners organized three branded merchandise giveaways, received 300+ media mentions, and recorded a 15%+ growth in organic branded search. There were 7+ PR and influencer collaborations and around 15 joint events during the year.

Importantly, 80% of participants in Boomerang’s sports initiatives said that VIP experiences – including fully sponsored trips, accommodation, and visits to AC Milan’s home matches – increased their trust in the brand and sense of engagement.

Sports traffic across Boomerang Partners’ affiliate network grew by 194%, interest in sports topics by 81%, and brand loyalty by 23%. Sportsbook GGR rose 62.87% YoY, and affiliate sign-ups increased by 58% YoY.

The media effect was also notable: 30+ exclusive campaigns, 1,000+ media mentions with a reach of 320+ million, and 1+ million views of AC Milan-related content on Boomerang’s platforms.

The partnership brought strong visibility. The Golden Boomerang Awards 2025 ceremony featured AC Milan Legend Andrea Pirlo. Over 200 affiliate partners attended AC Milan matches, including the derby with FC Internazionale, and 500+ merchandise items were given away.

Boomerang Partners received three major awards during the first year:

  • ‘Rising Star in Sports Betting’ (Operator) – SBC Awards 2024
  • ‘Best Player Engagement’ – SiGMA Europe Awards 2024
  • ‘Unique Gaming Company of the Year’ – International Gaming Awards 2025

A few months into the second year, Boomerang added two more awards:

  • ‘Social Media Campaign of the Year’ – SBC Awards 2025
  • ‘Rising Star in Sports Betting’ (Operator) – SBC Awards 2025

What’s next

Boomerang Partners and AC Milan have big plans for the future. The partners set the highest goals for themselves and are ready to help each other achieve them.

About Boomerang

Boomerang Partners is a rapidly growing global marketing agency offering a wide range of services. Boomerang Partners is the Official Regional Partner of AC Milan. In 2024, it launched the inaugural Golden Boomerang Awards — a global tournament for affiliate teams. More than 400 affiliate teams participated in the second season of the tournament in 2025. The agency launched six new products in 2024-2025, contributing to a nearly 1.5-fold increase in product users.

The agency’s client portfolio contains 13+ brands offering affiliate and entertainment services across 40+ markets in compliance with local regulations. These products provide personalized bonuses and 24/7 multilingual support.

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SYNOT Games Enters into Strategic Partnership with Casino Admiral

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SYNOT Games has strengthened its footprint in the Swiss iGaming market through a strategic partnership with Casino Admiral, one of the most recognised operators in the region. The collaboration officially launched in the second half of November, bringing a selection of SYNOT Games’ top-performing titles to Swiss players.

The first wave of games is already live on Admiral.ch, including Volcano Explosive, 27 Joker Fruits and Firebird Double 27 – dynamic, visually polished titles known for their engaging features and high entertainment value. Additional batches of games will follow, ensuring a continuous rollout of fresh content for players.

This partnership marks another significant milestone in SYNOT Games’ regulated market expansion strategy. Switzerland remains one of the most stable and promising European markets, with players showing strong demand for high-quality, certified and mobile-ready casino content.

Martina Krajčí, Chief Commercial Officer at SYNOT Games, said: “We are very pleased to launch a new cooperation with Admiral Casino in Switzerland. It’s a market full of potential, and Admiral is a partner who values quality, responsibility, and modern iGaming solutions. We are confident that our portfolio – from classic hits to the newest releases – will resonate strongly with Swiss players.”

Alessandro Werlen from the Casino Admiral said: “We’re thrilled to welcome SYNOT Games to our portfolio, bringing a fresh wave of innovative and engaging content to our players. SYNOT’s commitment to delivering high-quality games with immersive features perfectly aligns with our mission to provide exceptional entertainment in a secure and regulated environment.”

Through this deal, Admiral.ch will progressively gain access to SYNOT Games’ extensive portfolio of over 220 certified titles, all designed to meet stringent technical, compliance and regulatory standards.

As SYNOT Games continues to expand across Europe, the partnership with Casino Admiral reflects the company’s ongoing commitment to delivering premium entertainment built on innovation, reliability and player-focused experiences.

The post SYNOT Games Enters into Strategic Partnership with Casino Admiral appeared first on European Gaming Industry News.

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BNDRY Announced as the Next Innovation to Feature at Pitch! – Regulating the Game 2026 Sydney

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Pitch! @RTG is designed to surface transformative ideas — a crucible where technology meets real-world regulatory challenges, where compliance is re-engineered for purpose, and where new approaches to governance and sector leadership are tested in front of regulators, operators and innovators.

BNDRY exemplifies this mission. As pubs and clubs come under heightened scrutiny under the Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) Act, BNDRY has partnered with Cherryhub to deliver a compliance platform purpose-built for the operational realities of hospitality venues. Rather than retrofitting systems designed for banks, BNDRY and Cherryhub have engineered a solution for gaming floors, member-based venues and mixed-cash environments.

Many venues grapple with fragmented systems and the complexity of monitoring both carded and uncarded play. BNDRY and Cherryhub tackle this head-on. The platform integrates gaming machine data, member and visitor profiles, and frontline observational inputs into a single operational dashboard — providing clarity and automation where venues have long struggled.

The platform streamlines and automates the core AML/CTF obligations that pubs and clubs need to do continuously:

• Knowing members, visitors and staff

• Monitoring behaviour and transactions to detect anomalies

• Reporting to AUSTRAC

• Securely storing compliance records for seven years.

This new approach bridges the gap between bank-grade compliance capability and the fast-paced, people-driven realities of pubs and clubs — offering a scalable, auditable and future-ready solution as regulatory expectations continue to rise.

“BNDRY is a standout example of the practical innovation Pitch! was built to spotlight. Pitch! exists to surface the RegTech, policy and research innovations the sector often doesn’t know are out there — a crucible where ideas, technology and regulatory practice are tested and refined. That mix of capability and imagination is exactly what will strengthen regulatory outcomes and uplift the sector,” said Paul Newson, Principal at Vanguard Overwatch and founder of Regulating the Game.

“Australia’s pubs and clubs are facing financial crime risks and compliance expectations unlike anything before, and AUSTRAC’s focus on the sector is only intensifying. Venues need solutions built for their operational realities — not repurposed bank tech — which is why we built BNDRY. Through our partnership with Cherryhub, we’re integrating data from multiple systems, reconciling player activity, and automating the heavy lifting, to make AML/CTF compliance operationally achievable while showing what’s possible when purpose-built technology meets real-world challenges,” said John Rayment, CEO of BNDRY.

The post BNDRY Announced as the Next Innovation to Feature at Pitch! – Regulating the Game 2026 Sydney appeared first on European Gaming Industry News.

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