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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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Carl Gatt Baldacchino Head of Account Management SlotMatrix
SlotMatrix Unleashes Fiesta-Fueled Thrills with Muertos Fortune
SlotMatrix, the leading global casino content aggregator, has incorporated Muertos Fortune into its unique collection, a vibrant slot drawing inspiration from the lively energy and festivities of Day of the Dead customs.
Muertos Fortune welcomes players to a vibrant realm filled with music and color, where each spin leads to grander moments and more exciting rewards.
The Money Collector function centers on the Muertos symbol that shows up on reel five, serving as the chief collector by retrieving cash values from piñata prizes positioned throughout the reels to enhance winnings and enable extra rewards.
A significant feature of the gameplay is its Perceived Persistence mechanic, enabling piñata rewards that fall uncollected to fill the giant skull above the reels.
As the skull fills up, it explodes, activating the Free Spins feature filled with Muertos’ collections, greater piñata values, and opportunities for several retriggers, transforming growing excitement into massive payout possibilities.
Muertos Fortune can only be accessed via SlotMatrix and is upgraded by EveryMatrix’s sophisticated gamification features, such as free spins, tournaments, and leaderboards. It can additionally be combined with EngageSuite, the all-in-one player loyalty solution.
Carl Gatt Baldacchino, Head of Account Management, SlotMatrix, said: “Muertos Fortune is all about the renowned Mexican tradition. It’s a vibrant, high-energy title that fits perfectly in our growing portfolio.”
The post SlotMatrix Unleashes Fiesta-Fueled Thrills with Muertos Fortune appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
2026 Bacta Awards
Honouring excellence: Bacta Awards for standout contributors
Bacta utilized the platform offered by its premier EAG Expo to recognize three industry members who have excelled in their responsibilities. The 2026 Bacta Awards were awarded to Alan Claypole from Blueprint Operations (Supply Chain Champion), Alan Walker from Clacton Pier (Seaside Hero), and James Sturgess from Luxury Leisure (Community Champion).
Elaborating on the Awards initiative, Bacta President Joseph Cullis stated: “Our sector has numerous committed individuals who endlessly exert effort, making significant contributions to both Bacta and the wider community.
“The Bacta Awards honour individuals who have excelled, whether through outstanding community engagement or significant contributions to the industry. They also showcase the standards and values that define Bacta membership, including a commitment to professionalism and to operating in an ethical, sustainable, responsible, and transparent manner.”
“I was delighted that we could utilise EAG, which is the biggest annual concentration of Bacta members to recognise and celebrate the work of Alan Claypole, Alan Walker and James Sturgess – all extremely worthy recipients.
It was a great honour to welcome our Bacta Award Winners and to honour them in front of their peers.”
James Sturgess – Community Champion: James Sturgess, Regional Operations Director at Luxury Leisure which operate Admiral in the UK, has been at the forefront of the company’s partnership with the British Heart Foundation (BHF) to install a potentially life-saving defibrillator in every one of their AGC venues. Every year in the UK around 40,000 people suffer an out of hospital cardiac arrest, but less than one in ten survive. Immediate CPR and defibrillation can double a person’s chances of surviving a cardiac arrest. The partnership between Luxury Leisure and the BHF will mean that life-saving defibrillators are readily available if a customer, or someone in the community suffers a cardiac arrest. Thanks to the generosity of Admiral customers and colleagues the partnership has raised an incredible £500,000 for the British Heart Foundation, providing essential support for thousands of people in communities across the country.
Alan Walker – Seaside Hero: Alan Walker recently celebrated his 80th birthday, and has spent half a century in the amusement industry including more than a decade working at Clacton Pier. Alan is the pier’s head of coin operation services and works with colleagues some of whom are 60 years his junior. Alan spent nine years in the Army before he took up a post as a service engineer at Music Hire Group in his native North East. From there he progressed into management with the firm. He moved on to join the Noble Organisation – both in the North East and Blackpool – before taking up a role running amusements for the resorts division of First Leisure. His next job was with Family Leisure in London, and he has worked with Connaught Leisure, J Holland and Sons before joining Billy and Elliot Ball at Clacton Pier. Alan said that he was very proud to have received the award from Bacta. Reflecting on the award he said: “I was shocked to be honest, but it is nice to be honoured in that way for something you love doing.”
Alan Claypole – Supply Chain Champion: The Blueprint Operations Director of Technical and Product Development has a distinguished history of overseeing the Bacta Standards and leading on Bacta’s engagement with the Gambling Commission on the critical issue relating to the review of Technical Standards. Alan has an encyclopaedic knowledge of the technology that delivers gambling entertainment and shares his knowledge and insight for the betterment of the industry and for Bacta member businesses. Bacta President Joseph Cullis said: “Alan brings the level of expertise that any amount of money simply could not buy. He leads on technical discussions for Bacta and is able to draw on an unbelievable depth of knowledge. It is absolutely essential that manufacturers are aligned and the work undertaken by Alan on behalf of Bacta has a significant impact on both manufacturers and operators.”
The post Honouring excellence: Bacta Awards for standout contributors appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
Anne Marie Caulfield CEO of the Gambling Regulatory Authority of Ireland
GRAI: Problem gambling higher among those exposed to gambling as children
Research by the ESRI’s Behavioural Research Unit, commissioned by the Gambling Regulatory Authority of Ireland, indicates that problem gambling is significantly more prevalent among individuals who were exposed to gambling during childhood. The research revealed that the prevalence of problem gambling is notably greater in individuals who gambled during childhood, had parents who engaged in gambling, or whose parents viewed gambling favorably.
‘Problem gambling’ refers to a situation where an individual’s gambling interferes with and harms their life, leading to adverse effects on finances, health, and social relationships.
The study collected anonymous online feedback from a representative sample of over 1,600 adults. The researchers examined present gambling habits in relation to childhood experiences while accounting for social background.
The information showed a significant connection. Children who engaged in gambling were nearly twice as prone to experience issues with gambling later in life. Having a gambling parent raised the risk of problem gambling by one third, and parental views on gambling similarly influenced this risk.
People who both gambled as children and had a parent who gambled a lot were four times more likely to suffer from problem gambling.
The majority of the sample had engaged in at least some form of gambling when under 18 years old. The most common forms were slot machines, scratch cards, horse or dog betting, gambling amongst friends, bingo and lotteries.
Anne Marie Caulfield, CEO of the Gambling Regulatory Authority of Ireland, said, “This research provides clear evidence of the long-term potential harms resulting from childhood exposure to gambling. It reinforces the importance of a well-regulated gambling sector that protects children and those vulnerable to gambling harm. It also points to the need for awareness and education among our young people, their parents, and guardians on gambling related harms.”
To coincide with the release of this report, the GRAI have published advice for parents on how best to approach the topic of gambling and associated dangers with their children on our website. This advice was developed in collaboration with the HSE Addiction Services and provides a useful tool for parents.”
The post GRAI: Problem gambling higher among those exposed to gambling as children appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
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