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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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Apollo Games
REEVO Announces a New Partnership with Apollo Games
REEVO has announced a new partnership with Apollo Games, a Czech game studio renowned for its distinctive fruit and joker-style slot games. This collaboration marks another exciting step in REEVO’s continued expansion, further enriching its aggregation platform with proven, entertainment-driven content that appeals to players across multiple markets.
Through this partnership, Apollo Games’ portfolio is now available on the REEVO aggregation platform, providing operators with seamless access to a collection of engaging titles through a single integration. The addition reinforces REEVO’s commitment to delivering a diverse content ecosystem that combines established player favourites with innovative experiences from leading studios.
At REEVO, building a world-class aggregation platform means partnering with studios that understand what keeps players coming back. Apollo Games has established a strong reputation for combining classic casino appeal with modern mechanics, intuitive gameplay, and memorable entertainment. This makes the studio a valuable addition to REEVO’s growing portfolio of premium content providers.
As REEVO continues to expand its global footprint, every new partnership strengthens its ability to offer operators greater variety, stronger player engagement, and scalable content solutions through a single integration.
Daniel Cuc, Head of Account Management at REEVO, said: “Apollo Games brings a style of content that has stood the test of time while continuing to evolve with today’s players. We’re excited to welcome them to the REEVO platform as we continue building an aggregation ecosystem that combines trusted content with fresh experiences. Every new partnership is about giving our operators more opportunities to succeed, and Apollo Games is another excellent addition to our growing network.”
Robert Mikudik, CCO at Apollo Games, said: “We are truly excited to begin this new chapter with REEVO. This partnership will significantly strengthen the distribution of Apollo Games’ portfolio across multiple markets and help us bring our games to an even wider audience. I would like to thank everyone from both teams who contributed their time, energy, and expertise to successfully bring this project to life. A special thank you to David Ciolovan and Daniel Cuc for their dedication and for playing a key role in making this deal happen. We are very much looking forward to everything we can achieve together.”
This partnership reflects REEVO’s continued momentum as it expands its aggregation platform with providers that combine quality, innovation and commercial value. By growing a carefully curated content ecosystem, REEVO remains focused on helping operators deliver outstanding gaming experiences while supporting sustainable business growth.
The post REEVO Announces a New Partnership with Apollo Games appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.
Bacta
MGD – the Tax That Could Cost Britain its “Great Seaside Holiday”
Bacta has warned how an increase in Machine Games Duty will have a devastating impact on the country’s seaside piers and arcades forcing closures and undermining the appeal of the Great British seaside holiday.
The warning comes after research conducted by VisitBritain showed an 18% year-on-year decline in trips to England’s coast, an alarming down-turn that has seen it launch the domestic coastal campaign – #AllOnTheCoast – which encourages the supply chain of seaside businesses and partners to share videos and social posts to inspire Brits to discover England’s seaside and coastal destinations.
Commenting on the VistBritain campaign against the backdrop of the recent Social Market Foundation proposal to increase Machine Games Duty, Bacta President Joseph Cullis said: “Such a decline in trips to the coast, as reported by VistBritain, is extremely concerning.
“What’s perfectly clear is that any increase in the tax burden for already under pressure destination venues such as piers and coastal arcades will directly impact the appeal of a trip to the seaside as businesses either close permanently, are forced to pass on tax increases to holiday makers or have to reduce the hospitality offering. However individual businesses respond, the outcome is inevitable – a significantly reduced and more expensive experience that will serve to either transform two or three- night breaks into a day trip, and/or encourage families to holiday abroad.”
Increasing the tax burden would also have a significant impact on regional economies.
“Many seaside piers and amusement arcades rely on the income from their gaming areas to stay viable year-round. That income helps keep staff employed beyond the summer season and it helps maintain the attractions and buildings that are part of Britain’s coastal heritage. Take it away and the damage spreads throughout the broader business community of bars, cafes, newsagents, restaurants, convenience stores and B&Bs. Healthy, well-maintained piers and sea-front arcades make the difference between resort status and simply being somewhere that visitors go for a coastal walk,” noted Cullis.
“A pier does not survive on warm words about heritage, an arcade cannot pay wages with nostalgia and games creators aren’t able to invest in new products if the market is taxed into decline. It would be painfully ironic if the government chooses to implement a destructive tax regime that will destroy the Great British seaside holiday at the same time as funding VistBritain’s #AllOnTheCoast campaign.”
The post MGD – the Tax That Could Cost Britain its “Great Seaside Holiday” appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.
Andreas Hackl
Bet-at-home Goes Live with Fast Track
Bet-at-home, the European online sports betting and gaming operator, has gone live with Fast Track, using the platform to manage player engagement across its sportsbook and casino.
Founded in 1999 and listed on the Regulated Market of the Frankfurt Stock Exchange (Prime Standard), bet-at-home operates online sports betting and gaming across European markets, with Germany among its core markets. The agreement is the next step in bet-at-home’s player engagement strategy, as the operator continues to deepen the experience it delivers to players across regulated markets.
Fast Track gives bet-at-home’s team a single real-time customer model across CRM, Rewards and Greco, enabling the operator to scale player engagement, gamification and loyalty strategies, and build a gameplay intelligent bonus strategy from one connected platform. bet-at-home also uses Fast Track AI to power fully agentic CRM workflows, allowing its team to work with the platform in natural language and delegate end-to-end CRM tasks to AI agents.
“We needed a platform built for the realities of operating in regulated European markets, with the data foundation and agility to engage players consistently across our brands. Fast Track gives us exactly that, and we are excited about what this partnership will let us build for our players,” said Andreas Hackl, Head of Operations at bet-at-home.
“bet-at-home has built one of European betting’s most recognised brands over more than two decades, and across exactly the kind of regulated, competitive markets Fast Track was built for. We are looking forward to the work ahead together,” said Simon Lidzén, Co-Founder and CEO of Fast Track.
The post Bet-at-home Goes Live with Fast Track appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.
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