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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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Soft2Bet has been nominated in 6 categories at the EGR Europe Awards 2025
Soft2Bet, a leading provider of iGaming turnkey solutions, is proud to have been shortlisted in six categories, including the prominent ‘European Software Provider’ and ‘European ESG Initiative of the Year.’
In addition to these accolades, three Soft2Bet brands, which operate across B2B and B2C verticals under 13 licenses, also secured nominations in several categories:
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- CampoBet: Contending for the prestigious Nordics and Baltics – Operator of the Year award, reflecting its comprehensive platform and dedication to serving the needs of betting enthusiasts in Denmark and beyond.
- se: Receiving dual nominations for The Nordics and Baltics – Rising Star and Nordics and Baltics – Operator of the Year for its focus on mobile-first design, smooth user experience, and diverse selection of live casino and sports betting options.
Oksana Tsyhankova, Soft2Bet’s CMO, commented: “Our brands’ strong performance throughout the year has been highlighted by key industry awards, reaffirming our success in localisation and delivering exceptional results in every market we serve.”
The EGR Europe Awards are among the most prestigious in the industry. They celebrate innovation, operational excellence, and exceptional contributions. This year’s nominations reaffirm Soft2Bet’s reputation as a leader in performance and innovation while emphasizing its commitment to sustainability and responsible gaming.
About Soft2Bet
Soft2Bet is a leading iGaming turnkey solutions provider that delivers high-quality products and services for online gambling operators. The company is known for its Motivational Engineering Gaming Application (MEGA), which has been proven to enhance retention and engagement. Soft2Bet has deployed numerous successful iGaming brands and has over 14 global licences.
The post Soft2Bet has been nominated in 6 categories at the EGR Europe Awards 2025 appeared first on European Gaming Industry News.
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The DevilFish Social Poker brand has witnessed remarkable growth over the past two quarters of 2024, fuelled by the resurgence of social-based Web3 poker on a global scale. Current industry statistics indicate that the social free-to-play market is valued at $8 billion and is projected to expand by over 8% annually. The alliance with EvenBet Gaming, a leader in poker software innovation, positions the DevilFish brand to accelerate their reach across multiple international markets.
JJ Williams, Co-Founder of W3 Marketing Ltd and Devilfish Poker, confidently stated, “The growth of social poker and free-to-play models has been undeniable in recent years. We are witnessing a revitalization of interest in poker from a diverse range of digital natives eager to engage in community gameplay and the latest Web3 innovations—such as avatars, skins, traits, NFTs (non-fungible tokens), and digital ownership.
Our brand is uniquely positioned, enriched by its legacy in the online poker scene and its association with the late David A. ‘Devilfish’ Ulliott, a member of the WSOP Poker Hall of Fame. Our highly engaged community represents the next generation of social poker players and followers across social media and community platforms like Discord, X and Mastodon.
Selecting EvenBet Gaming as a strategic partner was a critical and confident choice; they possess a deep understanding of the synergy between traditional poker, social poker, and Web3/Crypto features, allowing us to deliver unique, innovative digital products for our poker brand throughout 2025.”
Dmitry Starostenkov, CEO of EvenBet Gaming, expressed, “DevilFish embodies a powerful brand narrative within traditional online poker, and we are inspired by how the team is reimagining this digital-first/Web3 product experience.
From the ground up, JJ and his team have successfully built an engaged community and revitalized the gaming franchise for today’s digital players—those who have evolved with social media, crypto, gamification, and digital asset ownership. Our vision, like DevilFish is global, and my mission is to expand our poker software innovation and platform, and support JJ and his team execute their global plans, for category dominance.”
The post DEVILFISH SOCIAL POKER ANNOUNCES EVENBET GAMING PARTNERSHIP appeared first on European Gaming Industry News.
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The post Booming Games Receives Danish License Approval appeared first on European Gaming Industry News.
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