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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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SOFTSWISS Game Aggregator Breaks the 35,000-Game Mark, Reaffirming Its Status as the Largest Content Hub

SOFTSWISS, a global tech provider with over 15 years of iGaming expertise, has announced that its Game Aggregator has surpassed 35,000 active titles, reinforcing its position as the industry’s largest games hub. The platform continues to provide operators with a broad portfolio, backed by 99.999%–100% uptime reliability.
In the first half of the year, the Game Aggregator expanded its content offering by 26%, now delivering over 35,000 active games from more than 300 providers – covering every major game category. Operating in 24 jurisdictions, the product ensures full compliance and accessibility for operators worldwide.
The Game Aggregator equips operators with built-in tools designed to drive engagement and maximise player value. The fully customisable Tournament Tool boosts daily bet volume by 22%, with participants placing twice as many bets and wagering three times more than non-participants. At the same time, Jackpot Aggregator campaigns have been shown to double the average player turnover. These mechanics are more than just features – they are revenue multipliers, seamlessly integrated into the platform.
With slots leading demand, the Fortune Rabbit game and Pragmatic Play external game provider ranking at the top, the Game Aggregator sets the standard for content depth, stability, and business impact.
SOFTSWISS maintains a 100% uptime commitment, with actual availability consistently measured at 99.999%–100%. This ensures operators never lose a session, a bet, or their players’ trust.
“The Game Aggregator is more than just a product – it’s a technology backbone that drives scalable success for our partners. From instant access to premium content to the industry-leading uptime and proven engagement mechanics, we’re giving operators exactly what they need to compete and win,” added Tatyana Kaminskaya, Head of SOFTSWISS Game Aggregator.
With a broad and ever-growing game portfolio, full compliance coverage, and tools that drive real results, the Game Aggregator is helping shape the future of iGaming. In a market where 24/7 performance and player trust are essential, SOFTSWISS isn’t just keeping up – it’s leading the way.
About SOFTSWISS
SOFTSWISS is an international technology company with over 15 years of experience in developing innovative solutions for the iGaming industry. SOFTSWISS holds a number of gaming licences and provides comprehensive software for managing iGaming projects. The company’s product portfolio includes the Online Casino Platform, the Game Aggregator with over 35,000 casino games, Affilka Affiliate Platform, the Sportsbook Software and the Jackpot Aggregator. In 2013, SOFTSWISS revolutionised the industry by introducing the world’s first Bitcoin-optimised online casino solution. The expert team, based in Malta, Poland, and Georgia, counts over 2,000 employees.
The post SOFTSWISS Game Aggregator Breaks the 35,000-Game Mark, Reaffirming Its Status as the Largest Content Hub appeared first on European Gaming Industry News.
Interviews
Exclusive Interview: Firesand Shield – Combatting Account Fraud in iGaming

In an era where digital threats are becoming increasingly sophisticated, the iGaming industry faces a relentless battle against fraud and cyberattacks. To combat this evolving landscape, European Gaming recently spoke with Chris Blake, Director at Firesand, about their new product, Firesand Shield. This cutting-edge security solution has been developed to tackle the complex tactics of modern fraudsters and hackers head-on.
In this interview, Chris Blake provides an in-depth look at how Firesand Shield was created specifically to combat the rise of account fraud, explaining how these attacks are becoming more automated and stealthy. He details the product’s multi-layered approach that goes beyond traditional bot detection, integrating seamlessly with operator platforms while delivering powerful real-time intelligence. Blake also discusses how Firesand Shield not only protects against fraud but also helps operators meet stringent regulatory requirements in highly regulated markets. Finally, he shares his vision for the future, outlining how Firesand is committed to staying one step ahead of a constantly changing threat environment.
Firesand Shield was developed to combat the rise of account fraud within the iGaming industry. How are these attacks evolving, and what level of disruption are they causing?
Account fraud is becoming more sophisticated. Attackers now use highly automated ‘low and slow’ techniques that avoid detection by mimicking normal user behaviour, which allows them to evade detection, as well as exploit platforms at scale.
In another change, rather than brute force attacks on platforms, we’re seeing credential stuffing attacks powered by breached data and botnets. This is where nefarious actors will use stolen databases of known usernames and passwords to try and gain access to accounts.
The outcome of this is that these attacks can cause significant impacts on operators. Compromised accounts lead to chargebacks, bonus abuse, regulatory issues, and player attrition.
Firesand Shield was built specifically to address these challenges at the level the industry demands. It goes beyond standard bot detection by recognising behavioural indicators that traditional tools miss, using a multi-layered approach that combines analytics, reputation intelligence, and real time risk profiling.
Our proactive, intelligence-led defence ensures that operators have a significant advantage in preventing fraud, maintaining platform integrity, and crucially, preserves a seamless player experience.
How does Firesand Shield integrate with operator platforms and back ends to deliver a seamless solution?
Integration can take part via two methods, that are both unobtrusive to the day-to-day activities of a platform. A classic API integration sees operators connect core user workflows, including login, registration, password reset, to Firesand via RESTful APIs. Firesand returns risk scores based on credential health, unusual behaviour, and IP location mismatches.
In addition, through both OAuth for enterprise SSO and simple username and password logins, we can facilitate access to a live dashboard provides visibility into login trends, potential attacks, and detailed metrics.
How can Firesand Shield help operators reduce regulatory risk, especially in highly regulated jurisdictions like the US, UK, or mature European markets?
Modern regulations demand active threat detection, prevention, and response, not just passive tools like firewalls or CAPTCHAs. There are demands now to prove you can detect, prevent, and respond to credential-based threats that potentially compromise platform integrity.
Firesand Shield supports this with real-time detection of threats, human-led attack identification, and unwanted actors.
As well as identifying potential threats, our built-in dashboards offer real-time reporting, instant access to logs and forensic data, and are created to ensure that all reports are audit-ready, with one-click data exports. This removes the operational burden of post-incident analysis, and allows operators to demonstrate control across their estate, satisfying regulators and clients alike.
It all aligns with best practices under various regulations, such as GDPR, gambling commission rules, and state-level cybersecurity legislation in the US. Firesand Shield is not just a fraud prevention tool, but a powerful compliance ally.
What kind of real-time fraud intelligence and threat response capabilities does Firesand Shield offer for operators managing large-scale player traffic during peak events?
Big sporting events, casino promotions, or game launches are prime targets for attackers. They use the surge in traffic as cover for credential stuffing, account takeovers, and bonus abuse. These aren’t just bot driven, but increasingly human-led or blended threats designed to bypass legacy defences.
Firesand Shield is built for high-volume, high-risk environments, delivering real time results under pressure, and automated mitigation at scale.
With traffic pattern monitoring that detects abnormal spikes in activity, or dynamic reputation scoring, where traffic from known malicious sources can be blocked, the product allows for real time decision making that assists operators. Firesand Shield goes beyond detection, allowing for immediate responses all controlled from our dashboard.
Even during peak events, Firesand Shield ensures system performance is unaffected while delivering the fraud protection and data required to protect players, satisfy regulators, and maintain operational integrity.
With an outlined roadmap of improvements to Firesand Shield, can security software keep pace with the ever-changing landscape of bot-driven fraud attacks?
Absolutely, and it must. The landscape of account fraud, particularly bot-driven attacks, is evolving faster than ever. Attackers continuously adapt, using more advanced automation, machine learning, and even human fraud farms to bypass traditional defences. Static, rules-based systems quickly become outdated. That is why Firesand Shield is built as a living platform with agility at its core.
Our development roadmap is shaped by continuous threat intelligence, client feedback, and industry trends. Upcoming enhancements include:
- Additional bot detection
- VPN detection
- Adaptive risk-scoring algorithms, tuned in real time to each operator’s unique traffic patterns
- Machine learning models that evolve as attacker tactics change
- Expanded breach intelligence feeds to flag compromised credentials faster
- Operator-led rule customisation, allowing real-time tuning without code or downtime
- User hygiene scoring, offering visibility into the health of player credentials across your platform
What makes Firesand Shield different is that it is not just reactive, but proactive and predictive. We’re not waiting for attackers to act. Instead, we are constantly learning from data across the iGaming ecosystem and pushing updates to stay ahead.
Built with regulatory frameworks in mind, we have strived to produce a solution that counters multiple pain points experienced across the industry that can have severe effects on operations if bad actors are successful with their intentions.
For operators and regulators alike, this means confidence that Firesand Shield is not just fit for today, but also ready for what’s next. Security software can and must keep pace, and our roadmap ensures that Firesand Shield leads that charge.
The post Exclusive Interview: Firesand Shield – Combatting Account Fraud in iGaming appeared first on European Gaming Industry News.
Latest News
Here We Go… Betway Scores announces Fabrizio Romano as their first global ambassador

Betway Scores, the popular live sports scoring app, has today announced that renowned Italian football journalist Fabrizio Romano has become their first global ambassador.
Famous for his unmatched reliability in football transfer news and his signature phrase “Here We Go”, Romano has built a vast and loyal following across social media, becoming one of the most trusted sources in the sport. With over 100 million followers worldwide, his influence spans the entire football community—from fans to players, clubs, and agents.
In his new role, Romano will regularly provide exclusive updates and insights around the biggest football stories, bringing Betway Scores users closer to the action through his expert commentary. His content will be featured in the app as well as on Betway Scores’ official channels.
Commenting on his appointment, Fabrizio Romano said:
“I’m excited to be joining Betway Scores as a global ambassador. I look forward to sharing the latest football news and updates. I’m ready to bring interesting insights to Betway Scores users throughout the year.”
A Betway Scores spokesperson, added:
“We’re thrilled to welcome Fabrizio as our first-ever global ambassador. His reputation for accurate information from the football world is second to none. He’ll bring tremendous value to our users.”
Romano’s partnership, facilitated by the team at Double Tap, marks another step in Betway Scores’ commitment to delivering real-time, data-driven content that enhances the football fan experience.
The post Here We Go… Betway Scores announces Fabrizio Romano as their first global ambassador appeared first on European Gaming Industry News.
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