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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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3 Oaks Gaming

Strategic partnership sees 3 Oaks Gaming expand its LatAm footprint with one of Mexico’s fastest-growing operators

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3 Oaks Gaming has strengthened its presence in Latin America through a new strategic partnership with Winpot, one of Mexico’s fastest-growing online casino and sports betting operators.

The collaboration sees Winpot enhance its casino lobby with a selection of 3 Oaks Gaming’s most popular online slot titles, including Sun of Egypt, Coin Volcano, and the highly anticipated Chili Coins Hold and Win. These additions further expand Winpot’s offering and reinforce its position as a leading destination for slot enthusiasts in Mexico.

3 Oaks Gaming has quickly established itself as one of the industry’s most sought-after content providers, delivering slot experiences that consistently keep players engaged. The studio is widely recognised for combining engaging mechanics, balanced mathematical models, eye-catching visuals and immersive sound design to create premium gameplay experiences.

The integration adds further momentum to Winpot’s rapid rise in the competitive Mexican market. The operator has built a strong brand presence by offering generous bonuses, a wide range of payment options, fast withdrawals, dedicated customer support and an extensive portfolio of casino content. Winpot has also boosted its national visibility through a series of television campaigns featuring brand ambassador Miroslava Montemayor.

Commenting on the partnership, Tsvetan Dzhurov, Commercial Manager at Winpot, said:
“We have always positioned Winpot as the premier destination for slots in Mexico, and our partnership with 3 Oaks Gaming reflects that ambition. The provider has mastered the art of creating high-performance titles that resonate with players worldwide, and we’re thrilled to bring this level of quality to our local audience.”

He added:
“We’re confident that games such as Sun of Egypt and Coin Volcano will strongly appeal to our players, and we’re excited to see them spin the reels and discover why 3 Oaks Gaming is such a respected name in the industry.”

Ana Lucaroni, Sales Manager at 3 Oaks Gaming, commented:
“Our games are ideally suited to the Mexican market, combining thrilling gameplay with stunning visuals and immersive sound. They deliver the anticipation, entertainment and excitement that players are looking for.”

“Winpot is a high-calibre operator, and we’re delighted to see our titles featured in its casino lobby. This marks the beginning of a long and successful partnership that will deliver value for both sides.”

The post Strategic partnership sees 3 Oaks Gaming expand its LatAm footprint with one of Mexico’s fastest-growing operators appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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ICONIC21

ICONIC21 and NuxGame Partner to Bring More Casino Content to Operators

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ICONIC21 and NuxGame have announced a strategic partnership aimed at expanding casino content availability for operators worldwide.

Known for going beyond standard game delivery, ICONIC21 differentiates itself through branded gaming solutions tailored to the specific needs of each operator. The provider specialises in creating custom-built games designed to strengthen brand identity and drive deeper player engagement. ICONIC21’s expertise in live casino solutions was recently recognised with the Best Live Dealer Provider award at the 2025 European iGaming Excellence Awards.

Through this collaboration, NuxGame enhances its ability to support operator partners with a broader and more flexible content offering. By integrating ICONIC21’s portfolio into its iGaming software platform, NuxGame enables operators to expand their game libraries while catering to both traditional online casino brands and operators working with Sweepstakes Casino Software, a segment experiencing rapid growth.

ICONIC21 operates with a strong client-centric philosophy, prioritising a deep understanding of partner requirements. The provider delivers solutions with speed, precision and transparent communication, ensuring every gaming experience is personalised to elevate the operator’s brand and exceed market expectations.

As part of the partnership, operators will gain direct access to ICONIC21’s expanding content portfolio via the NuxGame Online Casino Aggregator, powered by a unified API infrastructure. This allows operators to seamlessly manage integrations, monitor performance and launch titles across multiple jurisdictions through a single, streamlined system.

Bar Konson, Chief Business Development Officer at NuxGame, commented:
“NuxGame is committed to providing our operator clients with best-in-class features and content for their iGaming services. ICONIC21’s focus on custom solutions and open communication makes them a strong addition to our ecosystem of trusted partners. This collaboration also strengthens our ability to support both classic casino operators and the rapidly growing sweepstakes casino segment.”

Edvardas Sadovskis, Chief Product Officer at ICONIC21, added:
“We’re excited to partner with NuxGame, whose flexibility and deep understanding of operator needs align perfectly with ICONIC21’s product-driven approach. Together, we can deliver seamless live casino experiences and custom-branded game solutions to a wider global audience.”

ICONIC21 and NuxGame will continue to collaborate on new game launches and long-term support initiatives, helping operators scale their businesses with personalised content and dependable technology.

The post ICONIC21 and NuxGame Partner to Bring More Casino Content to Operators appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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Gaming

KOKA Noodles Partners with Grow uP Esports in a Collaboration Focused on the Gaming Community and Product Sampling

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KOKA Noodles, the internationally recognised brand celebrated for its quality, convenience and wide range of flavours, has announced a new strategic partnership with Grow uP Esports, one of the most active and influential esports organisations in the national landscape.

The collaboration is driven by a shared goal: to bring the KOKA brand closer to the gaming community through authentic experiences, hands-on product sampling and creative activations that resonate with the lifestyle and values of gamers and esports fans.

As part of the partnership, KOKA Noodles will feature across a variety of Grow uP Esports initiatives, spanning both live and digital events, community-driven activations, content collaborations with athletes and creators, and experiential moments focused on tasting and direct interaction with KOKA products.

Commenting on the announcement, Telmo “Armag3ddon” Silva, representative of Grow uP Esports, said:
“At Grow uP Esports, we prioritise partnerships that genuinely benefit the community and add value to the ecosystem. KOKA Noodles is a natural fit for the gaming world thanks to its speed, practicality and variety. This collaboration marks another step in our mission to deliver meaningful and relevant experiences for gamers.”

For KOKA Noodles, the partnership reinforces its commitment to engaging young, digitally native and discerning audiences, where gaming and esports serve as powerful platforms for emotional and cultural connection.

“Gaming is a space where KOKA naturally belongs — dynamic, creative and social. Partnering with Grow uP Esports enables us to stay close to our consumers, create impactful product sampling opportunities and integrate the brand authentically into everyday gaming culture,” added a KOKA Noodles spokesperson.

The KOKA Noodles x Grow uP Esports partnership will roll out over the coming months, with a series of activations to be unveiled gradually, further strengthening the link between gaming, entertainment and immersive brand experiences.

The post KOKA Noodles Partners with Grow uP Esports in a Collaboration Focused on the Gaming Community and Product Sampling appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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