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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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Black Label

Pragmatic Play signs Latam Agreement with Black Label

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 Pragmatic Play, a leading content provider to the iGaming industry, has strengthened its reach in the regulated Latin American market through a multi-product deal with platform provider Black Label. 

The partnership will see Pragmatic Play’s premium portfolio, including Slots, Live Casino, and Virtual Sports, integrated into the Black Label platform, enabling regulated operators across LatAm to seamlessly access the supplier’s content. 

Pragmatic Play titles, including multi-award-winning slots such as Gates of Olympus and Sugar Rush, as well as popular crash games like High Flyer and Spaceman, are now available to Black Label’s partners in the region.

 Black Label, a 360‑degree online gaming experience, serves as an end‑to‑end integration platform for launching or scaling online casinos.

Built with a deep understanding of Latin American players and offered in Spanish, it provides locally aligned solutions for one of the fastest‑growing regulated markets in the industry. 

Victor Arias, VP of Latin America at ARRISE, a global iGaming software and services leader and a key partner to Pragmatic Play, said

“Latin America remains one of the most dynamic and fast-growing regions in the industry, and partnering with Black Label allows Pragmatic Play to further boost its reach across the market.  

“Combining Pragmatic Play’s award‑winning content with Black Label’s locally aligned platform to support operators and players across the region is another positive step, and one that further cements Pragmatic Play’s status in Latin America.”

 Roberto González, general manager at Black Label, added: “Pragmatic Play is a globally respected supplier, and integrating its multiproduct portfolio is a major milestone for Black Label. 

“Our platform is built specifically for the needs of Latin American operators, and adding Pragmatic Play’s high‑performing content further strengthens the value we deliver to our partners.       

The post Pragmatic Play signs Latam Agreement with Black Label appeared first on Americas iGaming & Sports Betting News.

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Advanced Compliance Technology

Advanced Compliance Technology partners with the Soccer Federation of Rio Grande do Norte

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ACT has been selected to collaborate in building integrity programs of Brazil’s football leagues through its independent, real-time Sports Integrity monitoring technology and specialized education programs  to strengthen Brazilian Sports Integrity.

Advanced Compliance Technology (ACT), a leader in compliance, sports integrity and risk solutions for the global regulated betting and gaming industry, has entered a partnership with the Soccer Federation of North Rio Grande, a regional member of the national Brazilian Soccer Confederation (CBF).

The agreement signifies an important step forward in Brazilian football’s vision for the future as it adapts to the needs of the country’s new sports betting regulations, with an equal focus on safeguarding the integrity of competitions and protecting the athletes.

Under the agreement, ACT will conduct a comprehensive analysis of the current status of the leagues’ needs operating within Brazil’s emerging regulated market.

ACT will also deliver educational programs tailored to the Brazilian sports markets, drawing on its expert sports leadership team, who share decades of experience and who have identified some of the largest match-fixing incidents in the United States.

The ACT team will combine their knowledge of sports betting, insider trading, and specialized analytics to address the growing need for sports integrity monitoring across Brazilian leagues. This will include the application of advanced technology through ACT’s proprietary online monitoring platform, the only real-time technology of its kind that is independent from betting operators and trading services.

Susan Bala, Co-Founder and Director at Advanced Compliance Technology, and former Delegate for the U.S. Commerce Department in Central and South America said: 

“We are entering a new chapter in global sports with the introduction of legalised sports betting in Brazil. The country has an incredible and proud history in soccer, producing many of the game’s greatest athletes.

ACT is very pleased to collaborate with the leadership of the Soccer Federation of Rio Grande do Norte league in their mission to build a strong future through education and application of the most advanced technology solutions to safeguard the sport.”

Felipe Silva, Acting President of the Soccer Federation of Rio Grande do Norte, and José Silva, Vice President of the Brazilian Soccer Confederation, said: 

“We are extremely pleased to be working with ACT on this initiative. We recognise the importance of educating our athletes and protecting the sport we love. It is our mission through this work to contribute to the future success of Brazilian football.

About Advanced Compliance Technology (ACT)

Advanced Compliance Technology is a leading provider of regulatory technology solutions for compliance and integrity monitoring in the global betting and gaming sector.

ACT’s all-in-one platform delivers the most advanced technology tools to help leagues, operators and regulators meet their complex compliance requirements with an independent expert service and real-time performance.

The company’s technology combines advanced geolocation intelligence, identity verification, advanced anti-fraud mechanisms, sports integrity and behavioural analytics to prevent circumvention, strengthen market integrity and support player protection.

The post Advanced Compliance Technology partners with the Soccer Federation of Rio Grande do Norte appeared first on Americas iGaming & Sports Betting News.

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EPT

Roman Stoica wins EPT Monte Carlo Main Event for €825,000

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Roman Stoica won the PokerStars European Poker Tour (EPT) Monte Carlo €5,300 Main Event, taking €825,000 after coming through a 1,011-entry field on the French Riviera. Stoica defeated Austria’s Bernhard Binder heads-up to secure the title.

Stoica, 31, is from St Petersburg in Russia. PokerStars said he became Russia’s ninth EPT winner and followed Aleksandr Shevliakov, named by the operator as the 2025 EPT Monte Carlo champion. “I’m very happy that I’ve become an EPT champion,” Stoica said. “This is the dream of every poker player. I’m feeling great – I just won €825,000, so how else can I feel! The secret to running as deep as I did is to play and practice as much as you can. It’s what brings you to the final table and to winning the tournament.”

The Main Event final table payouts listed by PokerStars were: Stoica (€825,000), Binder (€515,000), David Djian (€368,750), Samuel Ju (€283,550), Jose Malpelli (€218,300), Longmao Fan (€167,850), Raul Mestre (€129,050) and Oshri Lahmani (€99,450).

In the high-roller schedule, PokerStars said the festival’s €250,000 Super High Roller was the largest buy-in event ever held at a PokerStars-branded event. Alex Kulev won the tournament for €2,786,332, beating Bryn Kenney heads-up.

Elsewhere, the €100,000 High Roller for One Drop raised €228,000 for the One Drop Foundation, with PokerStars stating 3% of each €100,000 buy-in was donated. Albert Daher won €2,055,000 after defeating Stephen Chidwick heads-up. Jason Koon won a €100,000 Sit & Go Invitational for a winner-takes-all €1 million first prize, beating Chidwick in heads-up play.

PokerStars also reported movement in the PokerStars Live League standings after EPT Monte Carlo, with Juan Pardo leading the High leaderboard, Julien Sitbon leading Medium, and Danilo Donnini leading Low. A total of €157,500 in PokerStars LIVE credit is set to be awarded across the top three finishers in each leaderboard category, according to the operator.

The post Roman Stoica wins EPT Monte Carlo Main Event for €825,000 appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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