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Kambi Group plc Q4 Report 2021

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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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ANJL challenges Rio Grande do Sul law banning lottery advertising in court

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The National Association of Gaming and Lotteries (ANJL) is challenging, in court, Law No. 16.508/2026, enacted in the state of Rio Grande do Sul, which bans lottery advertising in the state.

The entity has filed a Direct Action of Unconstitutionality (ADI No. 7971) before the Federal Supreme Court (STF), arguing that the state law interferes with matters under federal jurisdiction, particularly by imposing restrictions with direct effects on broadcasting activities and on the placement of advertising in media outlets regulated at the federal level.

The central issue in the dispute goes beyond the lottery market.

The controversy primarily concerns the limits of state authority over advertising content broadcast on radio, television, and other media subject to nationwide federal regulation.

By establishing a broad advertising ban, the state law creates practical obstacles for broadcasters, media outlets, agencies, and operators acting in compliance with federal legislation, generating legal uncertainty about which messages can be transmitted, through which channels, and under what conditions.

According to the association, the state restriction also creates a significant regulatory issue: by preventing advertising from companies authorized and supervised at the federal level, the law reduces the communication capacity of the legal market without effectively addressing illegal platforms operating outside the regulatory framework and ignoring public authority restrictions.

In practice, the measure may shift the debate away from consumer protection toward a generalized restriction on communication, with direct impacts on broadcasting and on the freedom to advertise lawful products.

For ANJL, responsible advertising is an essential tool to differentiate licensed operators from illegal websites.

It is through advertising that consumers can identify regulated companies, protection mechanisms, official channels, and responsible gaming practices.

A broad ban, on the other hand, tends to create asymmetry: while legal companies lose the ability to communicate through formal and auditable channels, unlicensed operators continue using aggressive, unregulated strategies often aimed at vulnerable audiences, without any state control.

The post ANJL challenges Rio Grande do Sul law banning lottery advertising in court appeared first on Americas iGaming & Sports Betting News.

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Flutter Brazil brings Betnacional and Betfair in Copa do Nordeste to promote Responsible Gaming

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The semifinal clash of the Copa do Nordeste between Sport Recife and Fortaleza, taking place on May 20 and 27, will feature Flutter Brazil’s brands in a joint activation aimed at reinforcing the commitment to safe entertainment and player protection.

Flutter Brazil, the group that operates Betnacional and Betfair, will promote the “Flutter Brazil Game” during the semifinal ties, with Sport Recife,  sponsored by Betnacional, facing Fortaleza, which will feature Betfair’s spot sponsorship for the decisive stage of the regional tournament.

Beyond the on-field competition, the initiative will serve as a platform to amplify messages around Responsible Gaming, balance, and safe entertainment in the betting sector.

The initiative reflects Flutter Brazil’s strategic goals for 2026, focused on brand building, reputation, and the consolidation of a transparent and responsible operation aligned with Brazil’s regulated market framework.

Controlling two of the sector’s leading brands in Brazil, the group recently marked its first year of operations in the country, combining local expertise and regional management with Flutter Entertainment’s global scale and governance standards.

Flutter Brazil emphasizes that responsible entertainment is a non-negotiable pillar and defines betting strictly as a recreational activity, not a source of income.

“The Flutter Brazil ecosystem was built with the purpose of raising standards of integrity, safety, and responsibility in the Brazilian betting environment.

By integrating Betnacional and Betfair sponsorships in a moment of high visibility and regional relevance, we reaffirm that responsible play and balance are not just messages, but part of our operational philosophy and communication DNA,” said Álvaro Garcia, CMO of Flutter Brazil.

Reinforcing its Responsible Gaming agenda and in line with local regulation, Betnacional has developed awareness and player protection initiatives, including the “Play Like a Senior” campaign featuring Vinícius Júnior, focused on safe entertainment practices.

The company also partners with institutions such as IBJR and EBAC, actively contributing to education, prevention, and player support initiatives.

To ensure safety, Flutter Brazil continuously invests in technology, education, and consumer protection. Its platforms offer configurable tools throughout the player journey, allowing users to set deposit limits, loss limits, session time limits, and self-exclusion options.

The Sport Recife vs Fortaleza activation also reinforces how regulatory progress has increased sector maturity in Brazil, highlighting the importance of operators committed to transparency, innovation, technology, and responsibility.

Flutter Brazil is one of the largest betting ecosystems in Brazil, formed by the merger between NSX Brasil (owner of Betnacional) and Flutter Entertainment, a global leader in the sector and owner of Betfair.

With Brazilian-led operations, the company combines advanced technology with deep local market understanding, promoting a safe, transparent, and responsible entertainment experience. Flutter Brazil also maintains a strong partnership with the Brazilian Institute of Responsible Gaming (IBJR).

The post Flutter Brazil brings Betnacional and Betfair in Copa do Nordeste to promote Responsible Gaming appeared first on Americas iGaming & Sports Betting News.

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Alea returns to NEXT.io Valletta with Alexandre Tomic joining key industry discussions

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Alea is returning to NEXT.io Valletta from May 26th to 28th, with Founder Alexandre Tomic taking part in several sessions focused on leadership, regulation, and the future direction of the iGaming industry.

The week begins on May 26th during NEXT Focus: Start-Up & Investor Day, where Alexandre will join the panel “Founders Anonymous – The Conversations That Don’t Make the Press Release.” The discussion will focus on the realities behind building companies, from fundraising and acquisitions to the difficult decisions founders face as businesses grow.

On May 27th, Alexandre will also moderate “The Day the Lights Go Out,” an interactive keynote built around a simulated regulatory crisis scenario, challenging industry leaders to react live to the sudden shutdown of major markets.

Later that day, he will present “The World Under One Lens,” a keynote exploring how behavioural data at an aggregator scale is reshaping the industry’s understanding of player behaviour, game performance, and global market trends.

Beyond the conference stage

Alongside the conference agenda, Alea will once again sponsor the Ice Bath & Yoga/Breathwork session on the morning of May 26th, led by world-record open water swimmer Neil Agius.

The session has become one of the more unique traditions surrounding the event week, giving attendees a slower start before the pace of the conference takes over.

That same evening, Alea and NEXT.io will host an exclusive CXO dinner at Contessa Restaurant inside The Phoenicia Malta, where selected industry leaders will meet for an evening of conversation, vegetarian dining, cocktails, and live music ahead of the conference opening.

Supporting the Malta community

To close the week, Alea will also attend the BGaming Charity Gala on May 29th in support of DAR Bjorn, the Maltese neurological home founded by ALS advocate Bjorn FormMosa.

I came to the DAR Bjorn gala last year not knowing very much about Bjorn or the foundation. And then I saw him there, in his bed, while we were all standing on our two legs having a good time. That changes you.

You can’t unsee it. We take so much for granted, the body working, getting up in the morning, walking across the room. Bjorn is fighting for all of that and still showing up. I’m coming back because I believe I have to. If you’re in Malta that week and you’re on the fence, come. There’s something about that room that stays with you,” said Alexandre Tomic, Founder of Alea.

Representing Alea in Malta will be Alexandre Tomic alongside members of the company’s Business Development, Partnerships, Account Management, and Marketing teams.

Event Schedule

  • NEXT Focus: Start-Up & Investor Day – May 26
  • NEXT.io Valletta – May 27 & 28
  • BGaming Charity Gala – May 29

About Alea

Alea is a leading iGaming aggregator, offering a customizable platform that provides operators worldwide with seamless access to over 23,000 games from 170+ top-tier providers through a single API integration.

Known for its innovative technology, Alea simplifies the integration journey and delivers a flexible, scalable solution designed to enhance game variety, player experience, and operational efficiency.

Alea is highly committed to a security-first infrastructure, ensuring reliability and trust at every level. In 2024, the company strengthened its cybersecurity framework through a strategic partnership with Continent 8 and achieved VAPT certification.

In addition to game aggregation, Alea has introduced Alea Pay, an exclusive payment gateway that further optimizes financial transactions. With a strong focus on security, compliance, and ongoing support, Alea continues to empower operators with cutting-edge tools to thrive in the evolving iGaming market.

For more information, visit www.alea.com.

The post Alea returns to NEXT.io Valletta with Alexandre Tomic joining key industry discussions appeared first on Americas iGaming & Sports Betting News.

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