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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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Booming Games

Treasure Hunt Revival — Booming Games Launches Gold Gold Gold Hold and Win

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The post Treasure Hunt Revival — Booming Games Launches Gold Gold Gold Hold and Win appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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Blueprint Gaming

Blueprint Gaming names Mattia Luchesini Head of International Account Management

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Blueprint Gaming has named Mattia Luchesini as Head of Account Management – International, enhancing its commercial leadership as the company continues to grow in regulated markets.

In his new position, Mattia will oversee Blueprint’s global account management function, prioritizing the establishment of strategic operator partnerships and fostering ongoing growth in vital regions. He will collaborate closely with commercial, product, and delivery teams to guarantee that partners receive support through a cooperative, value-oriented strategy.

Mattia comes to Blueprint from Games Global, where he dedicated more than two and a half years to senior account management positions, fostering robust relationships with operators throughout EMEA and acquiring substantial experience in international market dynamics.

This recent appointment demonstrates Blueprint Gaming’s ongoing investment in its commercial strengths, guaranteeing that partners receive support from seasoned leadership while the company advances its growth strategy.

Mattia Luchesini, Head of Account Management – International at Blueprint Gaming, said: “It’s a great opportunity to join Blueprint at a time of strong international momentum.

“The business has a clear vision and a reputation for working closely with its partners, and I’m looking forward to contributing to that approach while helping to drive growth across global markets.”

Matt Cole, Managing Director at Blueprint Gaming, added: “Mattia brings valuable international experience and a strong understanding of what operators need from a long-term content partner.

“His appointment supports our continued focus on strengthening relationships and delivering a high standard of account management as Blueprint grows its global footprint.”

The post Blueprint Gaming names Mattia Luchesini Head of International Account Management appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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Denmark

RoyalCasino Partners with ScatterKings for Company’s Danish Launch

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Rapidly expanding provider enters one of Europe’s most established regulated markets with its initial local operator partnership now operational.

ScatterKings has launched in Denmark’s regulated iGaming sector through a collaboration with RoyalCasino, a major online casino operator in the country, following the acquisition of a licence from the Danish Gambling Authority (Spillemyndigheden).

Players at RoyalCasino will enjoy access to ScatterKings’ collection of carefully designed games, such as Coins of Cleo and the anticipated Big Bob’s Gold, introducing new innovation to one of Europe’s most regulated and advanced markets.

Featuring precise calculations, captivating audiovisual elements, and built on a dependable AI- and cloud-driven platform, ScatterKings’ games provide seamless integration, steady performance, and an immersive experience for players in various regions.

Denmark’s strict regulatory framework and advanced market conditions position it as a logical progression for ScatterKings’ international growth plan, subsequent to their expansion into Austria at the close of 2025. Approval from Spillemyndigheden highlights the studio’s dedication to high-quality, compliant entertainment of the utmost standard.

RoyalCasino.dk is managed by the RoyalCasino Group, which boasts over 30 years of experience in the Danish gaming sector. The organization initially launched Royal Casino Aarhus in 1991, then ventured online in 2016, establishing itself as one of the nation’s most reliable casino brands.

ScatterKings remains focused on quality and craftsmanship, with each title being a passionate effort that combines established mechanics with daring artistic vision and unwavering performance. Created by a skilled team and supported by knowledgeable industry experts, the provider’s content is crafted to be distinctive and function flawlessly.

Steven Cross, CCO at ScatterKings, said: “Securing our Danish licence is a huge achievement for the team as we expand our global footprint and is a clear signal of where we’re heading as a studio. Denmark is one of the most respected markets in Europe, so entering it with a partner like RoyalCasino makes this launch even more special.

“RoyalCasino’s heritage aligns perfectly with our ambitions for ScatterKings. We’re incredibly proud to see our games live with such an iconic Danish brand, and this is only the beginning.”

Per Petersen, CEO at RoyalCasino Group, said: “With their stellar iGaming track record and dedication to succeed, ScatterKings impressed us instantly. Their ever-expanding games portfolio offers up true quality games made with genuine craftsmanship, and I expect we’ll see a lot more from them in the future. As one of Denmark’s largest online casino operators, we are highly selective about the partners we work with, and we’re delighted to be partnering with ScatterKings.

“We’re excited to be ScatterKings’ first partner as they enter the Danish market and look forward to providing a truly excellent experience for our customers.”

The post RoyalCasino Partners with ScatterKings for Company’s Danish Launch appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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