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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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Cash Eruption The Western

Spin Genie unveils exclusive new western slot adventure from IGT

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Spin Genie has revealed the exclusive debut of Cash Eruption The Western, the newest slot game from worldwide gaming supplier IGT.

The western-themed slot is now accessible to Spin Genie players, offering expanding wild features and an exciting respin bonus.

Located in a setting of frontier towns, safes, and money bags, Cash Eruption The Western operates on a 5-reel, 20-payline structure and features expanding Wild symbols.

The main attraction of the release is the Triple Cash Eruption Bonus, a hold-and-respin element activated by colored Cash Bag Scatter symbols. The bonus gives players an opportunity to earn Coin prizes, jackpot rewards, and strong modifiers, such as multipliers, collection features, and a Double Reels mode that operates on two reel sets at the same time.

Spin Genie, a prominent slots casino in the UK, is part of Kinetic Digital and with this release enhances its online slots collection from IGT that already features popular games like Magic of the Nile, Enchanted Lamp, and Pharaoh’s Fortune.

Kinetic Digital Head of Brand Marketing Dom Aldworth said: “Cash Eruption The Western is a fantastic addition to the Spin Genie portfolio, combining a hugely popular mechanic with a strong, immersive theme. IGT has elevated the Cash Eruption series with exciting new modifiers and features, and we’re delighted to bring this latest release to our players as part of our continued commitment to delivering the very best slot experiences.”

The post Spin Genie unveils exclusive new western slot adventure from IGT appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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Movers and Shakers: The blueprint for boutique studios looking to crack America

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“Movers and Shakers” is a dynamic monthly column dedicated to exploring the latest trends, developments, and influential voices in the iGaming industry. Powered by GameOn and supported by HIPTHER, this op-ed series delves into the key players, emerging technologies, and regulatory changes shaping the future of online gaming. Each month, industry experts offer their insights and perspectives, providing readers with in-depth analysis and thought-provoking commentary on what’s driving the iGaming world forward. Whether you’re a seasoned professional or new to the scene, “Movers and Shakers” is your go-to source for staying ahead in the rapidly evolving iGaming landscape. 

Charles Mott, Founder and CEO of S Gaming, says finding success in the US is a tough task, but that studios who can replicate the magic of the casino floor have what it takes to make it stateside

 

There are plenty of European studios that have set their sights on finding success in the US, but very few have actually managed to achieve it. This is because they are making a common mistake, and that’s failing to translate the preferences of US slot players into their games.

For more than a decade now, the UK and European markets have been defined by “the chase” – high volatility slots with massive, infrequent max wins and jackpots that deliver anticipation and thrills, but that also exhaust the player’s balance in minutes.

But if you walk on to the floor of any Las Vegas casino, the atmosphere is different. It’s about “time at machine”. It’s the neon, the regular dopamine hits of smaller wins and the ability to make $100 provide an entire evening’s worth of entertainment.

As the US market increasingly moves to online, with more states embracing regulated iGaming, it’s no longer finding its feet with players now actively looking for a digital version of the land-based soul they have loved for many years.

Moving away from the “big win” to the “long session”

US players have been culturally conditioned by the physical casino experience. Unlike the high-stakes digital environment of Europe, the American player often views slots as a leisure activity rather than a jackpot hunt.

This is why S Gaming has focused on fun, entertainment and sustainability, with our games matching the “steady tortoise” cadence of land-based slot machines. They still deliver lots of big win potential, but across longer and more engaging sessions.

For operators like BetMGM and Fanatics, both of which we’ve recently partnered with, it’s not just about fun, it’s about retention.

A player who loses their balance in three minutes is a churn risk, but a player who wins small, frequent prizes stays in the ecosystem for longer and ultimately generates a much higher lifetime value.

Efficiency over ego

But it’s not just about having the right games, distribution is also key to cracking America. This is a notoriously difficult market because it’s not one jurisdiction, it’s five (and counting) regulatory islands and in each, you need to secure regulatory approvals.

This is actually a moat that keeps many smaller studios out. It’s an issue we had to overcome, and ultimately looked for a partner that could help us bridge the gap. Our agreement with Gaming Realms allows us to use its remote game server and licences to launch into US states.

This “Infrastructure-as-a-Service” model allows a studio to focus on “game grammar” (math and art) while the partner handles the “plumbing” (compliance and connectivity). It’s the leanest way to hit the ground running with a tier-one operator across multiple states simultaneously.

Why tier ones are buying in

You might be wondering why a tier one giant like BetMGM has joined forces with a boutique UK studio and facilitated its launch into the US.

But the reality is that operators are fighting soaring acquisition costs right now and this means they no longer want more games, they want differentiated games that reduce churn and keep players coming back for more.

Our focus on sustainable entertainment aligns with current US regulatory requirements and the focus on responsible gaming. Games designed for longer, lower stakes sessions are inherently “safer” and more palatable to regulators and risk-averse operators alike.

And they just hit the mark more with players. Sure, winning is a big part of playing online slots, but how you get to the win and the perceived entertainment value is now just as if not more so important – not just in the US but in the UK and Europe, too.

The data-driven evolution

Success does not come from a single launch – it comes from having a feedback loop. We now have a handful of games live in the US market, including our flagship Triple 7 Jackpot title, from which we are gathering real-time data on player behaviour.

This is allowing us to move from “what we think players want” to “what the data tells us they love” and this in turn is allowing us to refine our product roadmap and the games we are producing for the US market, ensuring each title is more culturally resonant than the last.

The new era of transatlantic growth

Cracking America in 2026 isn’t about having the loudest brand of the biggest marketing budget – it’s about understanding the psychology of the casino floor.

The studio’s that succeed will be those that realise the US player isn’t looking for a new way to gamble, they’re looking for a digital version of the “Vegas” feeling they’ve known and loved for decades.

The post Movers and Shakers: The blueprint for boutique studios looking to crack America appeared first on Americas iGaming & Sports Betting News.

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When Africa gambles: seasonality patterns across five countries revealed by Blask

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When Africa Gambles: Seasonality Patterns Across Five Markets Revealed by Blask , Nigeria, Tanzania, Kenya, the Democratic Republic of the Congo, and Egypt operate under diverse regulatory regimes and follow different domestic sports calendars — Egypt also observes a Friday–Saturday weekend. Yet, across these markets, gambling activity exhibits a shared rhythm: engagement climbs into Q4 and remains elevated through the year-end, with softer periods either mid-year (Nigeria, Tanzania, Kenya, DR Congo) or late winter (Egypt). Peaks broadly coincide with the European club season, while in some markets domestic leagues run in parallel.

Blask’s Seasonality feature, drawing on data from January 2016 to February 2026, allows mapping engagement by month, day, and hour, revealing nuanced patterns in each market:

Nigeria: The Long Saturday

  • Annual curve accelerates into Q4: October is the top month, followed closely by September, November, and December. June marks the low point, with a modest rebound in July before the late-summer climb.

  • Weekly cycle is weekend-led: Saturday dominates, Sunday and Friday show smaller peaks, weekdays are quieter.

  • Hourly pattern forms a broad plateau on Saturday, with elevated activity from early morning to late evening (5am–9pm Lagos time). Weekday engagement is lower, concentrating in the late afternoon and evening.

Tanzania: Saturday as a Corridor

  • Annual rhythm mirrors Nigeria: softening in June–July, rising from August into a Q4 plateau. Top months are November–December, with October close behind.

  • Weekly cycle hierarchy is clearer: Saturday is strongest, Sunday elevated but lower, Friday leads weekday peaks.

  • Saturday functions as a corridor rather than a sharp spike: activity stays high from 7am–11pm Dar es Salaam time, peaking mid-afternoon to early evening (3pm–7pm). Weekday activity tilts toward evening post-work.

Kenya: Two Clocks in One Market

  • Annual curve rises from August into Q4, with December at the peak, October and November following. Low points in June–July.

  • Weekly peaks favor the weekend: Saturday #1, Sunday #2.

  • Hourly pattern shows dual peaks: a primary late-afternoon to evening spike (3pm–9pm Nairobi time) and a secondary pre-dawn rise (3am–7am), particularly visible on weekends.

DR Congo: The Morning Market

  • January remains unusually strong alongside December, which is the top month.

  • Weekly cycle follows the familiar weekend pattern: Saturday leads, weekend days generally brighter.

  • Hourly peak occurs in the morning, roughly 5am–9am Kinshasa time, shifting an hour later in eastern regions. Weekdays maintain the morning lift, with Saturday adding extra intensity.

Egypt: Friday Leadership and After-Midnight Play

  • Annual curve climbs steadily to year-end: December tops, followed by November and October. Softest periods are February and March.

  • Weekly cycle differs: Friday peaks, Thursday and Saturday slightly behind, reflecting Egypt’s Friday–Saturday weekend.

  • Nighttime engagement is strongest in the group, concentrating after midnight (2am–5am Cairo time), consistently across all days of the week.

The Bigger Picture

  • Q4 is peak season across all five markets. Nigeria peaks earliest (October), while Tanzania, Kenya, DR Congo, and Egypt maintain high engagement through November–December. Four markets soften mid-year, Egypt peaks late winter.

  • Weekend structures explain weekly splits: Saturday for Nigeria, Tanzania, Kenya, DR Congo; Friday for Egypt.

  • Hourly patterns diverge: Nigeria and Tanzania show broad Saturday blocks, Kenya focuses on prime time with pre-dawn tails, DR Congo peaks in the morning, Egypt peaks after midnight. Cross-market scheduling without these insights risks missing most demand.

The post When Africa gambles: seasonality patterns across five countries revealed by Blask appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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