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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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Golden Whale and Cevro team up to advance AI-driven player interaction

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Golden Whale, a provider of machine learning-driven optimisation and decision intelligence for the iGaming industry, has partnered with Cevro, an AI-powered platform designed to automate and enhance player interactions across support and operational workflows.

At the core of the integration is Golden Whale’s Full Model Control framework, which uses ML models to continuously analyse live player behavioural data, enabling more precise decisioning across engagement and incentives, driven by deeper insight into player value, churn probability and behavioural intent. These decisions can then be actioned through Cevro’s AI agents, allowing operators to guide and control player-facing responses with greater precision across multiple channels, including chat, email and helpdesk, with voice capabilities set to follow.

Cevro’s platform supports a wide range of player-facing processes, including bonus queries, KYC checks, payment-related communications and responsible gaming workflows. By introducing decision intelligence into these touchpoints, operators can move beyond reactive support models and toward more proactive, context-aware engagement, where responses are informed by real-time signals around player value and behaviour.

 

Eberhard Dürrschmid, CEO at Golden Whale, said: “Operators are managing an increasing number of player communications across different touchpoints, and many of those processes are still handled in a reactive or manual way. By working with Cevro’s AI agents, we can connect our decision intelligence directly into these communication workflows, enabling operators to respond more precisely and consistently, while also reducing the complexity of managing these interactions at scale.”

 

Chaim Heber, CEO at Cevro, added: “Our focus is on helping operators automate and scale player interactions without losing quality or control. By integrating Golden Whale’s decision intelligence, we can bring a new level of precision into how our AI agents operate, using deeper signals around player value, churn risk and behaviour to guide responses. This not only improves resolution and efficiency but also allows operators to deliver more meaningful interactions that support retention and long-term player value.”

The post Golden Whale and Cevro team up to advance AI-driven player interaction appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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Evoplay strengthens Brazil footprint with bet365 deal

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Evoplay, the award-winning game development studio, has strengthen its presence in Brazil through a new partnership with leading global operator bet365, marking another step in its growth across regulated Latin American markets.

The agreement sees a selection of top-performing Evoplay titles integrated onto bet365’s Brazilian platform, initially starting with standout releases such as Hot Triple Sevens and Temple of Thunder II Bonus Buy.

The partnership enables Evoplay to bring its diverse portfolio of high-performance content to one of the most promising emerging regulated markets, at a time when Brazil’s evolving landscape continues to create new opportunities for operators and suppliers alike.

By collaborating with bet365, a globally recognised brand known for its extensive reach and strong local engagement, Evoplay reinforces its commitment to delivering tailored content that resonates with regional player preferences.

Alex Malchenko, Head of Sales at Evoplay, said: “Partnering with bet365 represents an important milestone for Evoplay as we continue to expand our Latin American presence and build our network of global operator brands. Brazil is a market with huge potential, and we’re excited to bring a selection of our best-performing titles to its players.

“Our focus remains on supporting operators with content that not only meets regulatory standards but also delivers strong player engagement, and this collaboration is a testament to that approach.”

Spokesperson at bet365, added: “We are pleased to partner with Evoplay as we continue to enhance our offering in Brazil.

Their portfolio of localised games aligns well with our commitment to provide high-quality gaming experiences to our customers.

“We look forward to rolling out additional titles in the near future as we strengthen our collaboration with the supplier in this key market.”

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It uses innovative gameplay and cutting-edge design to elevate user experience and bring new audiences to the world of iGaming.

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The post Evoplay strengthens Brazil footprint with bet365 deal appeared first on Americas iGaming & Sports Betting News.

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WE names Valentina Ursini Group Account Director for IBJR and key clients

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Brazilian agency We has hired Valentina Ursini as Group Account Director, where she will lead business strategy and client relationships for accounts including EMS, Novibet, Jovi and IBJR (Brazilian Institute of Responsible Gaming).

Ursini brings experience from Leo Burnett, Ogilvy and TBWA, where she led global and local accounts for brands including Visa, Procter & Gamble, Motorola, Gatorade, Coty, Kimberly-Clark and Friboi.

“We has something that is rare today: genuine proximity to the client’s business and a very clear ambition for shared growth,” Ursini said.

“I am joining a team that already knows these clients deeply, and I bring a fresh perspective on expansion opportunities, efficiency and brand building.

It is about developing the business in a consistent and relevant way.”

Maurício Almeida, managing director at We, said Ursini’s appointment raises the standard of service for the agency’s strategic accounts.

“She combines expertise, consistency and a very pragmatic business vision, which is exactly what we look for in our model. She understands that client relationships only make sense when they translate into results.”

* The Brazilian Institute of Responsible Gaming is a private industry association representing licensed betting operators in Brazil. Its primary role is to support the development of a regulated, transparent and sustainable gambling market in the country.

The organization focuses on promoting responsible gaming practices, contributing to public policy discussions, and working alongside regulators to ensure compliance with Brazil’s evolving legal framework for betting.

It also advocates for consumer protection, market integrity and the reduction of illegal gambling activities.

In the context of the article, the IBJR appears as a relevant institutional player within the Brazilian iGaming ecosystem, reflecting the growing importance of industry representation as regulation advances.

The post WE names Valentina Ursini Group Account Director for IBJR and key clients appeared first on Americas iGaming & Sports Betting News.

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