Latest News
Kambi Group plc Q3 Report 2021

Financial summary
- Revenue amounted to €41.6 (Q3 2020: 28.1) million for the third quarter of 2021 and €127.5 (2020: 70.8) million for the period January to September, an increase of 48% and 80% respectively
- Operating profit (EBIT) for the third quarter of 2021 was €14.7 (6.5) million, at a margin of 35.4% (23.3%), and €50.0 (10.0) million, at a margin of 39.2% (14.2%) for the period January to September
- Profit after tax amounted to €11.9 (5.1) million for the third quarter of 2021 and €40.3 (6.8) million for the period January to September
- Earnings per share for the third quarter of 2021 were €0.384 (0.164) and €1.302 (0.220) for the period January to September
- Cash flow from operating and investing activities (excluding working capital movements and acquisitions) amounted to €11.9 (6.9) million for the third quarter of 2021 and €39.9 (8.2) million for the period January to September
Key highlights
- Group revenue of €41.6 million, a 48% year-on-year increase, taking revenue for the first nine months of the year to €127.5 million, eclipsing the total for the whole of 2020
- Acquired esports data and odds provider Abios, strengthening Kambi’s technology capability and transforming Kambi into a leading supplier of esports products and services
- Expanded partner network with signings of Island Luck in The Bahamas and BetCity in the Netherlands
- Continued expansion with on average one partner launch per week, including going live online on day one in Arizona, the 15th state in which Kambi has launched
“I’m pleased to report another excellent quarter for Kambi, with strong financial results against tough 2020 comparables, which is a testament to our robust business model and the hard work of our staff across the world. Kambi Q3 revenue was up 48% year-on-year, operating margin was once again strong at 35% and we continue to be highly cash generative. Excluding DraftKings, operator turnover was up 10% year-on-year, highlighting the underlying growth in the business.
We had a strong start to the new NFL season, which kicked off on 9 September, with our platform outperforming the competition and our market-leading Bet Builder product engaging a large number of bettors and returning higher average operator trading margin. Furthermore, revenue in Q3 was boosted by our continued US expansion, including day one launches in Arizona, the 15th state in which Kambi has launched. In total, Kambi completed approximately one launch per week on average throughout the quarter.
As we saw in Q3, M&A remains an ongoing trend in this industry, with the number of transactions featuring sports betting and gaming assets on the rise due to a growing appetite to invest in companies with highly sought-after technology. This illustrates the inherent value in proven businesses and supports a strong belief in future growth prospects in regulated markets across the world.
On the subject of M&A, I was delighted to announce our acquisition of esports data and odds provider Abios during the quarter. We believe Abios is a great fit for Kambi, and its technology and expertise will enable us to create a first-class esports product that will diversify our revenue streams by capitalising on the opportunities presented by this fast-growing vertical. The acquisition is also in line with our longer-term strategy to further modularise our platform and, with a strong balance sheet, we remain in a good position to explore additional acquisition opportunities in the future.
As ever, Kambi is committed to creating the world’s leading sportsbook and we have spent more than a decade focused exclusively on the sports betting vertical, developing a core product that is near impossible to replicate. Whether it’s our ability to offer a great betting experience, being ahead of the curve in terms of regulation and compliance or having a wealth of network data at hand to effectively power the engine, Kambi has both the technology and expertise in place to deliver long-term success for our partners.
Of course, during the quarter we learned of Penn National Gaming’s decision to acquire theScore, a Canadian sports media company which owns a player account management system and plans to develop its own sportsbook. It’s incredibly difficult, as well as costly, to build, maintain, and continue to develop a first-class sportsbook, as we’ve seen with unsuccessful efforts of others in the past. In the meantime, we’ll continue to support their growth with our fantastic platform and service we have built over many years, which remains very much of interest to our growing list of prospective partners.
In summary, we’ve performed well, and the future looks bright. We currently have a sales pipeline as strong and varied as I’ve known it. As the global trend of regulation continues, we are in a great position to capitalise on future opportunities as and when they arise, and we have announced the implementation of a share buyback scheme.
Many of us at Kambi have been in this industry for more than two decades, during which time we’ve seen the sports betting market change markedly. This change is reflected in the evolution of Kambi, where we have built a business that thrives in regulated market conditions, grown to become a global leader, and partnered with major brands across the globe, many entering the space for the first time. This experience means we know what it takes to succeed and I am therefore excited by what the coming years hold for Kambi.”
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Africa
Logifuture-powered Bet9ja renews support for Nigeria national team with ‘Let’s Do It Again’ campaign ahead of AFCON 2025

Extended partnership announced ahead of next week’s Unity Cup tournament in London
Leading African sportsbook Bet9ja has renewed its support for the Nigeria national team ahead of the 2025 Africa Cup of Nations.
Bet9ja collaborated with Nigerian Football Federation partners Sportdotcom for AFCON 2023 to launch the first ‘Let’s Do It Again’ campaign – in reference to the fact Nigeria are hunting for their fourth continental title.
The partnership has now been extended for AFCON 2025 after Nigeria booked their place at the tournament, which kicks off in Morocco in December. The Super Eagles have been drawn alongside Tanzania, Tunisia and Uganda in Group C of the tournament.
The announcement comes ahead of next week’s Unity Cup tournament, in which Nigeria, Ghana, Jamaica, and Trinidad and Tobago will go head to head at Brentford’s Gtech Community Stadium. The tournament sees semi-final matches on May 27 and May 28, ahead of the final on May 31.
Bet9ja is Nigeria’s leading sportsbook and is powered by Logifuture, global leader in B2B operations providing state-of-the-art iGaming products and services.
Bet9ja chairman Kunle Soname said: “We’re proud to renew our support for the Super Eagles as they ramp up their preparations for another tilt at the AFCON title. After lifting the trophy in 1980, 1994 and 2013 we’re backing them to go all the way again – Let’s Do It Again for 2025!
“Football is a unifying force across Africa and our partnership reflects our deep commitment to the game, the fans, and the future of Nigerian sport. This renewed partnership is about more than just brand alignment – it’s about national pride and shared ambition.
“By supporting the Super Eagles once again, Bet9ja aims to rally fans across Nigeria and beyond, reigniting the spirit of belief and unity that football brings to the nation.”
Toyosi Oyetunji, Senior Partner at Sportdotcom Limited, said: “At Sportdotcom, we are proud to once again partner with Bet9ja on the Let’s Do It Again campaign for the Super Eagles as they head to AFCON 2025 in Morocco. The buzz we created together during the last tournament was only the beginning. This time, we’re taking it to the next level – with more energy, more passion, and an unshakable belief in our team. As the Super Eagles chase a historic fourth title, we’re rallying Nigerians everywhere to dream big and stand united. Let’s Do It Again… Naija 4 the win!”
The post Logifuture-powered Bet9ja renews support for Nigeria national team with ‘Let’s Do It Again’ campaign ahead of AFCON 2025 appeared first on European Gaming Industry News.
Asia
Wazdan’s Online gaining™ ready to lead the way at SiGMA Asia 2025

Wazdan, the leading gain-focused developer, is set to make its mark at the upcoming SiGMA Asia 2025 summit, taking place from 1st to 4th June at the SMX Convention Center in Manila, Philippines.
The renowned iGaming gathering marks another key milestone in Wazdan’s strategic expansion across the continent, as the company continues to deliver tailored, high-performance gaming solutions under its signature Online gaining™ philosophy.
Visitors to Booth 2136 will be among the first to experience Wazdan’s latest wave of releases, including the eye-catching Sizzling Eggs™: Grand Platinum Edition and 36 Coins™: Grand Gold Edition, all of which showcase the studio’s hallmark blend of immersive gameplay, player-centric mechanics, and mobile-first design, firmly in line with the demands of Asian operators and their audiences.
A focal point of the event will be the unveiling of Wazdan Multidrop, the studio’s new network promotion. Designed to boost player engagement and drive operator revenues, the seven-phase campaign features a total prize pool of €5,000 and reflects its ongoing commitment to building value-driven promotional tools that resonate across global markets.
To celebrate its presence at SiGMA Asia, Wazdan will also host a series of exclusive giveaways throughout the event. Attendees will have the chance to win coveted prizes, iPhone 16, AirPods, AirTags, and a selection of limited-edition Wazdan merchandise, adding an extra layer of excitement to an already action-packed summit.
Beyond the product showcasing and prizes, Wazdan views the summit as a key opportunity to strengthen regional partnerships and deepen its engagement with Asia’s thriving iGaming sector. The event’s growing prominence on the global calendar makes it a natural fit for Wazdan’s ambitions to lead the way in innovation and customer-focused growth across the continent.
Radka Bacheva, Head of Sales at Wazdan, said: “SiGMA Asia is a standout opportunity for us to engage with key players across the region and demonstrate the adaptability of our Online gaining™ philosophy. Our team is excited to showcase how our tailor-made solutions and proven game mechanics can elevate operator performance and player engagement in Asian markets.
“We look forward to insightful conversations, new connections, and sharing our vision for continued growth across the continent.”
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Latest News
VentureMax Group support ambitious startups with sponsorship of Pitch iGB

The VentureMax Group which is reshaping the nature of investments, game design and digital advertising in the iGaming space has been confirmed as headline sponsors of the first Pitch iGB taking place Wednesday 2nd July at ExCeL London.
Celebrating the entrepreneurial spirit which sits at the heart of iGaming the competition is being described as the ‘Ultimate Startup Showdown’ providing an opportunity for five visionary companies to battle it out in front of top investors for the chance to win the prize of £10,000.
Pitch iGB is open to bold, ambitious startups that have been founded within the last three years and who are seeking investment and strategic partnerships. In addition to the £10,000 prize pot, participating in Pitch iGB provides a raft of benefits including massive industry exposure, unparalleled networking opportunities with potential investors/partners and expert feedback from top industry judges. All sectors of the industry are submitting applications including Game Developers, SEO and AI Innovators, Affiliate Tools and Solutions Providers as well as iGaming Disruptors.
Heralding the importance of the initiative Justin Anastasi CEO of the VentureMax Group said: “Pitch events like this are where the future of our industry is born. It’s a space where bold thinkers propel real innovation and show us the kind of grit that turns ideas into market-leading companies. At VentureMax, we back founders who are ready to build something formidable, so I’m genuinely looking forward to judging at Pitch iGB and meeting the startups who will help shape our future. Let’s see who’s going to shake things up this year!”
Naomi Barton, Global Portfolio Director responsible for iGB L!VE added: “Entrepreneurship is in the DNA of the iGaming community and I am delighted that Justin and the VentureMax Group will be supporting the next wave of industry pioneers and helping them to fulfil their potential. Pitch iGB is more than a competition – it’s a launchpad for startups on what is the biggest stage in iGaming. Quite simply, if you have an innovative, scalable and game-changing idea Pitch iGB is your stage!”
Startups have until May 26 to complete the Pitch iGB application form and upload a two minute YouTube video showcasing their business. Five finalists will make it to the live showdown which will comprise a four-minute pitch and an additional four-minute Q&A with the industry judging panel. One startup will then be crowned Pitch iGB Champion and take home the £10,000 prize pool.
iGB L!VE (2nd– 3rd July, ExCeL London) will welcome a projected 15,000 igaming and affiliate pioneers, helping businesses throughout the online gaming ecosystem to navigate an ever-changing landscape via networking opportunities, cutting-edge innovations and crucial market knowledge-sharing.
The post VentureMax Group support ambitious startups with sponsorship of Pitch iGB appeared first on European Gaming Industry News.
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