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Kambi Group plc Q4 Report 2021
Financial summary
- Revenue amounted to €34.9 (Q4 2020: 46.9) million for the fourth quarter of 2021, a decrease of 26%, and €162.4 (2020: 117.7) million for the period January to December, an increase of 38%
- Operating profit (EBIT) for the fourth quarter of 2021 was €7.1 (22.2) million, at a margin of 20.2% (47.3%), and €57.0 (32.2) million, at a margin of 35.1% (27.4%) for the period January to December 2021
- Profit after tax amounted to €6.1 (17.3) million for the fourth quarter of 2021 and €46.4 (24.1) million for the period January to December 2021
- Earnings per share for the fourth quarter of 2021 were €0.198 (0.558) and €1.501 (0.781) for the period January to December 2021
- Cash flow from operating and investing activities (excluding working capital movements and acquisitions) amounted to €4.8 (20.5) million for the fourth quarter of 2021 and €44.6 (28.7) million for the period January to December 2021
- The 2022 AGM will be held on 17 May 2022. The Board proposes that no dividend is paid out.
Key highlights
- Robust financial performance driven by market expansion and strong underlying network growth. When adjusting for the migration of 888 and DraftKings, and the impact from regulation in the Netherlands, operator turnover was up 38%
- Received a mobile platform licence in New York, the most populous US state to regulate online sports betting thus far, and subsequently went live in Q1 2022
- Expanded US partner network with the signings of omni-channel operator Affinity Interactive and tribal operators Desert Diamond Casinos and Saginaw Chippewa Gaming Enterprises
- Completed 38 launches, including three additional US states – Connecticut, Louisiana and Maryland – and with new partners in Australia, the Bahamas and the Netherlands
- Following close of quarter, extended long-term partnership with Kindred Group until 2026 and have ability to repay convertible bond held by Kindred
“The momentum we built in Q3 continued into Q4, helping us finish the year in fine fashion. This positivity has continued into the new year, most notably having recently extended our partnership with Kindred Group, which now runs for the next five years up until the end of 2026, providing us with additional financial strength. Separately, we also have the ability to repay the convertible bond held by Kindred, which when paid at a time of our discretion will provide us with complete freedom to make the right strategic decisions for Kambi’s future, which has never looked brighter.
Looking back at Q4, growth from the Americas continued to be a key driver of our performance. The Americas region was responsible for 58% of operator GGR and is set to increase further with additional markets to regulate and go live this year across Canada, the US, and South America.
One of the key quarterly highlights was the receipt of our licence in New York State, which since launching a few weeks ago has quickly grown to become the largest market in the country. Not only did Kambi secure one of the few licences on offer in New York, the bid we led as a primary applicant also achieved the highest score from the regulator following a competitive application process. Such an achievement is a real testament to Kambi’s reputation in the US and the quality, integrity, and reliability of our sports betting technology.
We signed three new partners in the US during Q4, including a multi-state partnership with US omni-channel operator Affinity Interactive, which operates casinos in three states and the Daily Racing Form, an iconic horse racing news brand. We followed these signings up after the quarter with a multi-state deal with MaximBet and a partnership in Canada with NorthStar Gaming, which is partnered with Torstar Corporation, one of the country’s largest news organisations.
In addition to North America, we made significant progress in Argentina, going live in both Buenos Aires City and Buenos Aires Province, while we also launched new partners in Australia and the Bahamas. Furthermore, in Europe we launched BetCity and JVH in the re-regulated Netherlands market and have been buoyed by the early performance. We are excited by prospects in the Netherlands, particularly once additional partners are awarded their licence in the coming months.
In summary, Q4 concluded a transformative year for Kambi and as we move into 2022, I am confident the business has never been better positioned for the future. The prospect of further regulation and additional partner signings across the globe is positive and we are firmly established as the go-to provider for the global sports betting market. I look forward to building on our successes this year and beyond to the benefit of both our partners and shareholders alike.”
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casino fined
Dutch Duty of Care Fine Ramps Pressure On Industry Under Siege
The Netherlands Gambling Authority (KSA) has fined an operator over €880,000 for not treating its customers with adequate care, creating highly unwelcome negative PR for the industry at exactly the moment when it is desperate for positivity.
The KSA announced today (June 11) that it was fining licensed operator 711 a total of €886,000 for a series of duty of care failings, having found violations in all ten player files that it requested to view.
As part of its routine compliance sweeps, the regulator requested detailed gambling and customer care data on ten randomly selected high spenders at the operator.
The authority said that 711 had not properly analysed the gambling behaviour of its customers or taken the right measures to intervene when they showed signs of risky play.
In one case a player was allowed to lose €40,000 in four days before they were contacted for a wellness check and a source of funds request, the KSA said.
The contact that did take place was also not sufficiently in-depth to identify if the individual had a gambling problem, the regulator added.
In another case, a player was allowed to lose almost €200,000 over several weeks before they were contacted for a source of funds check, the KSA said.
The fine is the latest in a series of penalties related to the duty of care that operators own to their customers, which unlike many other European nations is an established part of the country’s gambling act.
The largest penalty so far is a €4m fine for Unibet operator Optdeck, but regulatory officials have said they continue to find failings on their random sweeps.
711 declined to give a comment to EEGaming, saying that it has a policy of not speaking with the press.
The decision by the KSA can be appealed.
The bigger context
The penalty for 711 is not the first punishment for duty of care failings in the Netherlands and it is unlikely to be the last, but this particular fine comes at a pivotal moment for the future of Dutch gambling.
The industry is awaiting a statement from minister Claudia van Bruggen on how she will change gambling policy over the next year.
She is under extreme pressure from several organised groups within parliament to enact tough new rules on a market that is already struggling to keep players out of the black market.
Most notably there have been repeated calls for a complete advertising ban, in addition to the existing ban on all non-targeted gambling advertising in the Netherlands.
A complete ban is opposed by the KSA, which revealed recently that it had held meetings with van Bruggen to make their case and said she “took our concerns very seriously”.
There have also been calls for a hard cap on the number of online gambling licences in the Netherlands, something that the KSA also argues is not in the best interests of consumers.
However the issuing of yet another reputation-damaging fine for the sector further adds to the risk that van Bruggen will feel a need to give in to public and political pressure and really turn the screw on the beleaguered sector.
Experts estimate that channelisation for online gambling in the Netherlands may be as low as 45 percent.
Rates of gambling with licensed operators have collapsed following the introduction of deposit limits, which can only be removed via affordability checks, and tax increases which have seen rates rise to 37.8 percent of gross gambling revenue.
One small crumb of relief for the industry will be upcoming proof of what something they warned would happen: Increasing the tax rate has resulted in lower income for the government, as players likely stop gambling or seek better odds offshore.
“A new impact assessment of the gambling tax will probably be published at the end of June, showing that the increase in the gambling tax did not achieve its intended goal,” revealed KSA head of licences and supervision, Ella Seijsener, speaking at the recent Gaming in Holland conference.
Analysts suggest that growth in the online market has slowed rapidly in recent months and that although channelisation may not decline further from here under current market conditions, there is equally little hope of lifting it back above 50 percent as things stand.
But far from an easing of rules, the local industry expects things to get tougher from here and are simply hoping that van Bruggen’s manifesto for the next phase of Dutch gambling regulation avoids some of the more extreme measures called for by her fellow politicians.
The post Dutch Duty of Care Fine Ramps Pressure On Industry Under Siege appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.
creator-economy
Paysafe and Skrill sponsor Woody & Kleiny’s 39-day US soccer road trip livestream
Kick and TikTok stream runs June 11–July 19, covering 15,000 miles and promoting fundraising for Prostate Cancer UK.
Paysafe (NYSE: PSFE) and its digital wallet Skrill are sponsoring a 39-day US “In A State” soccer road trip led by creators Woody & Kleiny, with live coverage starting June 11 from Jacksonville. The tour is set to run 15,000 miles and stream 24/7 on Kick and TikTok.
Paysafe said the tour will include creator-led content and in-person activations designed to spotlight payment processing for local merchants—such as bars, restaurants, hotels and retailers—along the route. The company is positioning its merchant acquiring and POS-related offerings alongside Skrill consumer wallet use cases during match-day and fan events.
The trip also includes fundraising for Prostate Cancer UK, with donations directed to the official Woody & Kleiny GoFundMe page. The press release notes prostate cancer is “now the most common cancer in the U.K. and the only major cancer without a screening program.”
“This tour puts Paysafe and Skrill at the heart of the action, powering the moments that matter most,” said Alisa Barber, Chief Marketing Officer at Paysafe. “Woody & Kleiny have an extraordinary ability to turn everyday life into must-watch content and combining that with our technology demonstrates how seamless payments can lift every experience.”
Stops listed include Los Angeles (June 12), Arlington, TX (June 17), Boston (June 23) and East Rutherford, NJ (June 25 and 27), with additional cities planned as the tournament progresses. Paysafe said the livestream will be supported by daily YouTube recaps and short-form social content.
The post Paysafe and Skrill sponsor Woody & Kleiny’s 39-day US soccer road trip livestream appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.
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Paysafe and Skrill get on board with Woody & Kleiny’s Outrageous US Soccer Road Trip: 39 Days, 15,000 Miles, Streamed Live 24/7
Spotlighting business payments and consumer digital wallet experiences for soccer fans, the ‘In A State’ tour brings viral creators together for a live celebration of soccer and fundraising for Prostate Cancer UK
Paysafe (NYSE: PSFE), a global payments platform, is taking its technology to the heart of America’s biggest soccer summer, fueling a 39-day, 15,000-mile streamed road trip powered by viral creators Woody & Kleiny.
Known as the ‘In A State’ tour, this record-breaking journey streams live on Kick and TikTok from June 11, as Woody & Kleiny tear through major cities including Los Angeles, Arlington, Boston and East Rutherford, engaging soccer fans and shining a spotlight on the businesses that make these places tick. The tour will also raise awareness and funds for Prostate Cancer UK, supporting life-saving research, earlier diagnosis and better outcomes for men affected by prostate cancer, which is now the most common cancer in the U.K. and the only major cancer without a screening program.
Paysafe is the payments engine sponsoring the tour, putting its processing solutions for businesses and its consumer facing digital wallet, Skrill, center stage. Through 24/7 live streaming, in-person activations and creator-led content, Paysafe’s technology will come to life in the most authentic setting imaginable: the real-world energy of America’s biggest soccer tournament.
Woody & Kleiny have built one of the world’s largest creator communities, reaching more than 50 million followers across online platforms and generating over 45 billion views.
Paysafe Spotlights Local Businesses
Paysafe will spotlight local businesses, including bars, restaurants, hotels, and retailers, across the route. Woody & Kleiny will showcase Paysafe-powered payment solutions for local merchants via live interactions.
As part of its broader commitment to supporting businesses, Paysafe provides integrated payment solutions tailored to the needs of local merchants. This includes POS technology such as payment devices, competitive payment processing offerings, and value-added services designed to help businesses operate more efficiently. Through these activations, Paysafe will demonstrate how its solutions enable businesses to streamline operations, manage peak demand, and deliver seamless payment experiences.
Skrill: The Wallet That Moves at the Speed of the Game
Paysafe’s digital wallet Skrill will be front and center across the entire ‘In A State’ tour. From fan giveaways to real-time digital payments, Skrill will enable fast, secure transactions within high-energy environments. Fans will interact with Skrill through on-the-ground activations, digital rewards, and integrated content moments — proving that a great digital wallet doesn’t just make payments easier, it makes every experience better.
Through these activations, Skrill will play a visible role in powering fan engagement, from rewarding participation to enabling seamless transactions in real time, demonstrating how the digital wallet can enhance every moment of the fan journey.
“This tour puts Paysafe and Skrill at the heart of the action, powering the moments that matter most,” said Alisa Barber, Chief Marketing Officer at Paysafe. “Woody & Kleiny have an extraordinary ability to turn everyday life into must-watch content and combining that with our technology demonstrates how seamless payments can lift every experience.”
The stream will be complemented by daily YouTube recaps, short-form social content, celebrity appearances and real-time fan engagement — reaching audiences across the globe. Paysafe branding will be unmissable throughout: on the tour bus, across activations, and at the center of every major match-day moment.
For Paysafe, this tour shows how world-class payment technology, the right partners and the biggest sporting event of the decade can come together to create something genuinely extraordinary, while also raising vital awareness and funds for prostate cancer. Fans can donate to Prostate Cancer UK via the official Woody & Kleiny GoFundMe page.
Follow, watch and engage with the tour across Woody & Kleiny, Paysafe and Skrill’s social channels.
Tour Route and Key Stops
Woody & Kleiny will travel through major U.S. cities, where soccer fans will be gathering throughout the tournament.
Key stops include:
- Los Angeles (June 12),
- Arlington, TX (June 17),
- Boston (June 23)
- East Rutherford, NJ on June 25 and 27
Other cities as the tournament unfolds.
The post Paysafe and Skrill get on board with Woody & Kleiny’s Outrageous US Soccer Road Trip: 39 Days, 15,000 Miles, Streamed Live 24/7 appeared first on Americas iGaming & Sports Betting News.
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