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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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Vegangster Powers Reels Points, the New Coin-Based Loyalty System on Reels.io

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Reels.io has added Reels Points, a new loyalty layer powered by Vegangster. Players earn coins by playing casino games or placing bets. Coins can be tracked in the player profile and redeemed in the Vegangster-powered Lootbox Shop.

Two bigger steps are next. The first is on-platform: coins will soon be spendable across a selection of games as in-play credit, opening up a second use case beyond the Lootbox Shop. The second is on-chain. Reels.io is heading toward a $REELS Token Generation Event, at which point accumulated Reels Points will convert into Reels Tokens, a publicly traded cryptocurrency.

That turns the loyalty layer into a stake in the brand itself, and gives players a real choice along the way: spend coins now on lootboxes and in-game perks, or stack them for the token conversion later.

The system is 100% Vegangster-developed and currently available only on Reels.io. It will roll out to select partners first, then be offered to all Vegangster clients, with the crypto layer as an optional component depending on each operator’s market.

Michael Oziransky, Chief Product Officer at Vegangster, commented: “Reels.io is the kind of brand that pushes a system to its limits, which is exactly why we wanted them as the first deployment. They are running the points layer and the Lootbox Shop now, with in-game spending and a token conversion already mapped out. What works for them sets the bar for the version we roll out across the rest of our network.”

The Reels.io launch is the first deployment of what Vegangster sees as a long-term loyalty product. With the points layer live, the Lootbox Shop active, and a clear path toward in-game spending and token conversion, the system is built to grow with the brands running it.

About Reels.io

Reels.io is an online casino and sportsbook offering a wide library of slots, table games, live dealer content, and sports and esports markets, along with regular rewards and promotions for active players.

About Vegangster

Vegangster provides a full iGaming platform built for speed, scale, and operator control. Its turnkey, white-label, and sweepstakes solutions bring casino and sportsbook content, payments, CRM, compliance, and social features together in one mobile-first system. With Vegangster, operators can launch quickly and grow with confidence.

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N1 SEO Traffic Cup: final results coming soon

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N1 SEO Traffic Cup the first tournament in the N1 Traffic Cups series is coming to an end, with April 30 as the final day of the promo. Over the 2 months, around 300 teams joined the promo, driving SEO traffic to N1 Partners’ casino and betting brands.

Participants competed not only on volume, but also on efficiency, strategic thinking, and scaling. The more brands a partner drove traffic to, the higher their coefficient for score calculation was. The final results depend entirely on each team’s own performance — that makes the tournament fair and engaging.

The winners will be announced by May 10. In this article, you’ll find out which brands delivered the strongest results in the N1 SEO Traffic Cup, along with key trends in working with this traffic source.

N1 SEO Traffic Cup: Wrap-Up 

The N1 Partners expert team answered the hottest questions about the tournament wrap-up — insights that can be valuable for partners who keep running SEO traffic to N1 brands.

1.  Which brands showed the best performance during the tournament?

Several brands clearly stood out:

  • HollyWin
  • Slot Mafia
  • Lucky Hunter
  • RollXO
  • Slot Lounge

2. What do the tournament results say about the current state of SEO traffic in iGaming?

The key takeaway: SEO remains one of the core channels in iGaming. However, it’s evolving and adapting in response to Google updates. This is no longer about writing articles and getting traffic — it’s about systematic unit economics management.

An interesting point — the tournament mechanics focused not on volume, but on efficiency (FTD + coefficients). This clearly shows that iGaming SEO is shifting from mass traffic to controlled performance.

It’s also worth noting that the rule “There are no fixed winners — KPI execution matters more than leaderboard position” gave every participant a real shot at top prizes, while competitors’ results served as additional motivation for growth.


3. What key trends did you observe among top participants?

Several major trends stood out:

  • Multi-brand strategy = a must-have
    Top performers don’t rely on a single offer — they build strategies around a portfolio of brands. This proves that SEO is moving closer to media buying.
  • Aggregators, comparison pages, and multi-intent pages are effective
    Among the top-performing approaches: offerwall pages, cross-brand strategies, and parasite SEO.

Stay tuned for updates on the N1 SEO Traffic Cup from N1 Partners to find out who landed in the prize tiers and what rewards the top teams received — final results will be announced separately by May 10.

And this isn’t the end — a new tournament from the N1 Traffic Cups series will start very soon. Follow the announcements not to miss your chance and jump back into the competition, sharpen your skills, as well as compete for even bigger prizes.

N1 Partners is: 

  • 14+ casino and sportsbook brands with high Reg2Dep
  • 10+ Tier-1 GEOs
  • CPA up to €700 and RevShare up to 55% + NNCO for top partners

Be number one with N1!

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Spinmatic Inks Strategic Tie-Up with Fonbet Greece

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The supplier says the integration is complete and plans missions, bonus campaigns and tournaments to support Fonbet’s casino growth strategy.

Spinmatic has launched its slot content with Fonbet.gr in Greece, formalising a new partnership focused on growing Fonbet’s casino offering in the market.

Spinmatic said Greece is a priority territory in its expansion strategy and that the deal is designed to introduce its slot portfolio to Fonbet’s customer base via the operator’s cross-selling approach from sportsbook to casino.

The supplier said the partnership will be supported by a roadmap of activations, including bespoke missions, bonus-driven campaigns and competitive tournaments, aimed at driving sustained engagement and “long-term GGR growth” as play shifts toward the casino vertical.

Norbert Mathies, Managing Director at Spinmatic, said: “Greece is a market where we see incredible potential, and partnering with a reputable brand like Fonbet is a key step in our growth journey. We have been following their work in building a solid casino vertical with great interest. By combining our engaging, mobile-first slot games with Fonbet’s proven ability to activate and retain players, we are creating a powerful synergy. We are fully committed to supporting this partnership with a dedicated strategy to ensure our content becomes a firm favourite among their Greek audience.”

Mr. Yiannis Gangas, Heading Casino at Fonbet.gr, added: “At Fonbet, we continuously aim to strengthen our casino offering by introducing engaging and high-quality content. Our collaboration with Spinmatic marks an important step in that direction, allowing us to further diversify our portfolio with games that combine strong design, proven mechanics, and player appeal. We see this partnership as an opportunity to build long-term value, leveraging targeted activations to gradually grow our casino vertical and deliver a more dynamic entertainment experience.”

The post Spinmatic Inks Strategic Tie-Up with Fonbet Greece appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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