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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.”
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GGPoker to Broadcast WSOP Online 2025 Final Tables Live, Featuring GGPoker.tv Broadcast Debut of Poker Legend Phil Hellmuth
Join Jeff Gross and his legendary co-hosts on September 23 and September 30
GGPoker, the World’s Biggest Poker Room, today announced it will live stream the final table action of two of the most prestigious events from the ongoing WSOP Online 2025 tournament series. The broadcasts will be available on GGPoker.tv, the brand’s official YouTube channel, and will feature the debut of poker legend Phil Hellmuth as a live GGPoker.tv broadcast host.
The first broadcast, on September 23, will showcase the high-stakes drama from the final table of the $5,000 WSOP Online Main Event, arguably online poker’s most important annual tournament. This landmark event will be co-hosted by frequent GGPoker anchor Jeff Gross and the 17-time WSOP bracelet winner, Phil Hellmuth. Known for his “poker brat” persona and unparalleled tournament record, Hellmuth’s inclusion will provide viewers with an unprecedented look into the mind of one of poker’s greatest champions.
The action continues on September 30, with the final table of the $10,300 GGMillion$ High Rollers event. Joining Jeff Gross for this broadcast will be GGPoker Global Ambassador and fellow poker icon, Daniel Negreanu. Negreanu, with his engaging style and deep understanding of the game, will provide expert commentary and analysis, making this broadcast another must-watch for poker fans everywhere.
“We are incredibly excited to bring the WSOP Online 2025 action directly to our fans with these two live broadcasts,” said Paul Burke, Head of Public Relations at GGPoker. “Having Phil Hellmuth and Daniel Negreanu on air alongside Jeff Gross to break down the action will be a true treat. This will be more than just watching a final table; it’ll be a masterclass in poker strategy from two of the best to ever play the game.”
The post GGPoker to Broadcast WSOP Online 2025 Final Tables Live, Featuring GGPoker.tv Broadcast Debut of Poker Legend Phil Hellmuth appeared first on European Gaming Industry News.
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LiveScore Group announces transformational partnership with X and xAI to drive the future of integrated sports media and betting
- Landmark partnership will leverage X’s real-time content and xAI’s technology to advance LiveScore Group’s mission to converge sports media and betting.
- Collaboration will introduce richer media, new fan engagement features and AI-driven personalisation, setting a new benchmark for digital sports content experiences.
- With over 100 million annual users, LiveScore Group continues to lead in global sports media innovation, while driving betting growth across the UK and international markets.
LiveScore Group, a global leader in sports media and betting, has announced a pioneering partnership with X and xAI that promises to transform both the sports media and betting industries. By leveraging the vast real-time content of X and the advanced AI capabilities of xAI, LiveScore Group will accelerate its strategy of converging sports media and betting into a single, seamless experience for millions of fans worldwide.
This collaboration will allow LiveScore Group to tap into the unique scale, speed and interactivity of X to deliver richer, more engaging content experiences across its Livescore and Livescore Bet products. The integration will redefine how fans follow live sport, interact with breaking news and participate in betting, creating a new standard for fan engagement in the digital era.
The collaboration will leverage unprecedented access to X’s various data and content APIs, giving LiveScore Group the ability to capture real-time sports conversations, sentiment and breaking news at scale.
This integration will fuel innovation across LiveScore Group’s media and betting platforms, enabling:
- Richer sports media experiences with instant delivery of news, fan sentiment, and influencer commentary.
- New engagement features such as bet-slip and prediction sharing directly into X, connecting communities of fans and bettors.
- Smarter trading models that react to real-time sports developments and fan conversations, enhancing bettor value and retention.
- Faster, scalable customer support, including automated responses to fan inquiries via X.
The partnership will also leverage the power of xAI’s cutting-edge technology to develop personalised fan experiences, predictive insights and new AI-driven engagement tools across LiveScore and LiveScore Bet. From smarter trading models that adapt to real-time sentiment, to tailored content delivery that anticipates fan preferences, xAI will play a pivotal role in shaping the next generation of products within LiveScore Group’s integrated ecosystem.
Sam Sadi, CEO of LiveScore Group, said: “This is a game-changing moment for LiveScore Group and for the industries we operate in. By partnering with X and xAI, we are unlocking the ability to combine the world’s most dynamic real-time content platform with our mission to converge sports media and betting. This will redefine how fans experience live sport, empower new forms of interaction, and set a bold new direction for the future of our industry”.
Christopher Park, Director & Global Lead of Developer Platform at X Corp, commented: “We are delighted to partner with LiveScore Group as they push the boundaries of sports engagement and innovation. This partnership highlights how X and xAI can empower forward-thinking companies to harness real-time data and AI to disrupt industries and deliver transformative experiences to users around the world.”
With more than 100 million annual users, LiveScore Group has established itself as a leading force in converging sports media and betting. This new partnership with X and xAI cements its position at the forefront of industry innovation and marks a bold step in shaping the next era of fan engagement.
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Distribution deal sees leading racing provider for the Americas extend its scope into Italy’s local pool betting via governing body for horse racing
1/ST CONTENT, the pre-eminent provider of premium North and South American horse racing content and a key division of 1/ST, has continued to grow its international footprint in a new partnership with the Italian Ministry of Agriculture, Food Sovereignty and Forestry (MASAF) in the run-up to the Breeders’ Cup World Championships, one of the true highlights on the global racing calendar.
The deal now opens a breakthrough gateway for local pool betting on North American, South American and Turkish racing in Italy – and was soft-launched over last month’s 100th edition of the Hambletonian at The Meadowlands, NJ. This milestone renewal, the pinnacle of harness racing and a format of the sport which is particularly popular with Italian racing fans, fostered immediate fan engagement, as reported by MASAF this month via https://www.grandeippicaitaliana.it/.
The agreement kicks off with the 2025 flagship finale at the Breeders’ Cup World Championships in Del Mar (31 October – 1 November) and brings many of the premier stateside races to Italy, including the Pegasus World Cup (24 January) and the Triple Crown contests of Preakness 151 (16 May) and the Belmont Stakes (6 June). In the aggregate, 1/ST CONTENT’s extensive content portfolio maps approximately 90% of all North American racetracks, alongside South American and Turkish venues, neatly complementing Italy’s domestic sporting action with a reliable source of fast-settling betting content between 18:00 and 05:00 CET.
Italian and North American horse racing currently enjoy a strong reciprocal bond, thanks to three of Italy’s leading jockeys in Frankie Dettori, Umberto Rispoli and Antonio Fresu plying their trade in North America. These three Italian ambassadors were recently introduced to a mainstream global audience via Netflix’s acclaimed Race For The Crown.
1/ST CONTENT’s worldwide experience and customer base for pools betting features the Americas, Morocco, Italy, Singapore, Australia, Turkey, Sweden, France, New Zealand and Hong Kong. As a result, by leveraging 1/ST CONTENT’s unparalleled expertise in capturing and streaming elite live-racing events, bettors across Italy can now enjoy a best-in-breed international racing experience.
Key features of the deal include but are not limited to:
- Comprehensive Coverage: exclusive signals of all racetracks in the United States, Canada, South America and Turkey, ensuring an extensive and diverse range of racing content for Italian audiences.
- Cutting-Edge Technology: high-quality, immersive broadcasts, providing viewers with an unparalleled access to live racing and informative content that both engages the seasoned viewer and educates those unfamiliar with the sport.
- Enhanced Viewer Engagement: accompanying innovative marketing strategies, promotions, and engagement initiatives, enhancing the overall viewer experience and speaking to a dedicated racing community in Italy
Simon Fraser, Senior Vice President International at 1/ST CONTENT, said: “We’re thrilled to be working as a partner with MASAF on a program to rejuvenate their horse racing audience and breathe new life into the Italian industry. Our collaboration marks a cornerstone from which we can build together to ensure that racing is competitive with other betting options and further expands 1/ST’s global reach.”
Remo Chiodi, Director General for Horse Racing at MASAF, added: “This partnership is part of a broader framework aimed at strengthening relations between Italy and the United States in the horseracing sector: it is a path that consolidates ties between the two countries, enhances both our national excellence and international achievements, and opens up new opportunities for growth and exchange. It is a step that also involves breeding and training, while highlighting the image of Italian racing excellence in the United States, represented by our most renowned jockeys competing overseas.
“Thanks to this agreement, major American racing events will be broadcast free-to-air on EQU TV, expanding the television offering and allowing betting on the races within a fully integrated system. After years of challenges, Italian racing is redefining the entire sector to restore our sport to a position of strength, both at home and abroad.”
The post 1/ST CONTENT and Italy’s MASAF form new partnership ahead of the Breeders’ Cup appeared first on Gaming and Gambling Industry in the Americas.
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