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Kambi Group plc Q1 Report 2022

Financial summary
- Revenue amounted to €36.9 (Q1 2021: 43.2) million for the first quarter of 2022, a decrease of 15%
- Operating profit (EBIT) for the first quarter of 2022 was €7.3 (18.7) million, at a margin of 19.9% (43.2%)
- Profit after tax amounted to €5.4 (15.1) million for the first quarter of 2022
- Earnings per share for the first quarter of 2022 were €0.178 (0.487)
- Cash flow from operating and investing activities (excluding working capital movements and acquisitions) amounted to €5.5 (16.5) million for the first quarter of 2022
- The 2022 AGM will be held on 17 May 2022. The Board proposes that no dividend is paid out.
Key highlights
- Strong financial performance against tough 2021 comparatives and Netherlands headwinds, with operator turnover up 25% when adjusting for the migration of DraftKings
- Extended long-term partnership with Kindred Group until 2026 and announced full control over strategic future with ability to repay convertible bond held by Kindred
- Strengthened North American partner network with the signings of online operators NorthStar Gaming and MaximBet
- Showcased product excellence during the Super Bowl and March Madness while also providing complete platform stability unmatched by various high-profile US sportsbooks
- Obtained regulatory approval in Ontario, Canada, and subsequently launched with partners on day one of the market opening in Q2
“The first quarter of the year proved to be another busy period at Kambi as we delivered new partner signings, contract extensions, continued market expansion and multiple product and technology advancements.
Operator turnover was up 25% when adjusting for the migration of DraftKings which proves the underlying financial performance of the business remains strong. This growth comes despite being up against tough Q1 2021 comparatives and the temporary impact of regulatory headwinds in the Netherlands, which we expect to ease soon. Turnover was driven by a busy US sporting calendar, including the Super Bowl and March Madness, the US college basketball championship, and I was proud to see Kambi provide its partners with a market-leading offering and platform stability unmatched by some of the most high-profile B2C sportsbooks.
In terms of contract extensions, in February we signed a new agreement with Kindred to continue our very successful partnership which will develop over time to best support the evolving strategies of both companies over the longer term. This agreement is very much reflective of what we see in the wider industry, with some top-tier operators adopting a hybrid approach to technology by blending first-class third-party services with proprietary elements. The industry is now broadly divided into two operator types – those that outsource their sportsbook entirely and those that outsource to varying degrees. As we continue to develop a more open and modularised sportsbook, we believe we’ll become even more attractive to the former group, while also significantly widening our addressable market by making select products and services available to the latter for the first time.
I am particularly pleased with the momentum Kambi continues to build across North America. During the quarter, Kambi completed a total of 11 partner launches in the US and signed two new partnerships with North America-facing operators NorthStar Gaming and MaximBet, the latter moving away from its predominantly in-house technology strategy. With regulation across North America moving at pace, and states such as California, Texas, and Ohio yet to go live, I have never been more confident in our position to capitalise on the opportunities this vast market presents.
In Canada, our excellence in compliance and regulation enabled us to become one of the first sportsbook providers to obtain regulatory approval from the Ontario regulator, ensuring our partners were up and running on day one of single-event sports betting going live in the province earlier this month. Ontario promises to be one of the largest sports betting markets in North America and we look forward to the prospect of additional Canadian partner signings as well as other provinces establishing their regulatory frameworks.
We remain steadfast in our commitment to strengthening our position as the world’s leading sportsbook and continuing to provide exciting sports betting experiences for players. To deliver this requires a strong core platform with the crucial flexibility to facilitate localised offerings to satisfy the varying regional demands. This capability, which we demonstrate across the 40-plus regulated markets we operate in today, will be pivotal to our global success as the expansion of sports betting regulation continues the world over, in turn creating ever more exciting business opportunities.
In short, the future looks bright for Kambi with high interest in the sportsbook and services we offer today, as well as those we are developing for tomorrow. As discussed in the previous report, the ability to repay the convertible bond held by Kindred provides us with complete freedom to make strategic decisions that will deliver value for all stakeholders. With Kambi reaching the milestone of 40 partners during the quarter, the scale of the Kambi network has never been greater nor more diverse, and I believe we have only scratched the surface of what’s possible.”
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Asia
Banijay Asia and NODWIN Gaming form Strategic Partnership to Amplify Youth Engagement in India

Banijay Asia, a part of Banijay Entertainment, and NODWIN Gaming, a material subsidiary of Nazara Technologies, today announced a strategic partnership to revolutionize esports, gaming and youth entertainment in India. This collaboration marks a significant step in blending cutting-edge content with the booming gaming and youth culture ecosystem. As part of this alliance, Banijay Asia will take the helm in producing Playground, NODWIN Gaming’s flagship gaming reality show that has redefined the intersection of gaming, entertainment, and influencer culture in the region. The partnership will also bring new scripted and captive reality shows to daylight, with both companies co-developing new intellectual properties (IPs) and pioneering fresh content concepts across gaming, esports and youth culture.
Deepak Dhar, Founder & Group CEO – Banijay Asia & Endemol Shine India, commented, “This collaboration with NODWIN Gaming is an exciting extension of our vision to create content that resonates with evolving youth audiences. Gaming is not just a sport; it’s a culture, a lifestyle, and a massive content opportunity. With Playground and our upcoming IPs, we aim to redefine engagement and storytelling in this space.” He further added, “I look forward to the creative collaboration with Akshat Rathee, and Joost Roset who we previously worked with, in bringing iconic global IPs to India. This is an invaluable opportunity to create clutter-breaking formats in the youth and gaming space.”
With a diverse portfolio of high-impact IPs including the televised esports tournament – BGMI Masters Series (BGMS), Comic Con India, NH7 Weekender, and more, NODWIN Gaming is a key player in the gaming, esports and youth entertainment ecosystem.
Talking about the partnership, Akshat Rathee, Co-Founder & MD, NODWIN Gaming, said, “Youth entertainment is evolving rapidly, and our partnership with Banijay Asia positions us perfectly to lead that change. With Playground, we’ve just begun to explore what’s possible. Backed by Banijay’s global expertise, we’re now set to scale the IP across multiple languages and markets, with the ambition of building an international format. At the heart of our approach is our philosophy of ‘timeshare of mindshare’. We’re not just creating content, we’re creating cultural moments. The Rusk creative team will stay actively involved as we expand the universe of Playground, aiming to grow from one show to between five and ten each year. This is just the beginning of a bold new chapter in gaming and youth content.”
With gaming emerging as one of the most influential youth-driven industries, this partnership is poised to set new benchmarks in how gaming and entertainment are consumed in India. By leveraging Banijay Asia’s expertise in content creation and NODWIN Gaming’s deep-rooted understanding of gaming communities, the collaboration promises to push creative boundaries and capture the imagination of young audiences nationwide.
Banijay Entertainment has strong expertise in the gaming space, via its global distribution arm Banijay Rights, with successful gaming activations leveraging key brands including Peaky Blinders, Black Mirror, Simon’s Cat and MasterChef.
The post Banijay Asia and NODWIN Gaming form Strategic Partnership to Amplify Youth Engagement in India appeared first on European Gaming Industry News.
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Effortless Spins and Big Wins Await in Stakelogic’s Dolce Far Niente

Stakelogic invites players to embrace la dolce vita in a cascading slot adventure bursting with Modifier Wilds, growing multipliers, and vibrant Italian charm
Roll down the windows and let the warm Italian breeze sweep you away to rolling vineyards and winding streets in Stakelogic’s latest escape, Dolce Far Niente. As a stylish couple cruises beneath a glowing Mediterranean sunset, every spin ignites cascading wins, Modifier Wilds and a max multiplier up to 5,000× the stake.
Dolce Far Niente takes players on a scenic ride across a 5×3 grid with 243 pay ways, delivering wins through cascades that tumble symbols away, creating fresh opportunities for each spin.
Wild Symbols add to the pace, appearing on reels two, three, and four, substituting for all paying symbols except Bonus, Coin and Modifier Wild. The Modifier Wild on reel five sticks in place, destroying its row and triggering a cascade while collecting Bonus symbols in its path. Each cascade increases the multiplier by +1, stacking until the spin resets, with a maximum multiplier payout of up to 5,000×.
Players can also trigger the popular Hold ’N’ Win feature by landing five or more Coin symbols. Starting with three Free Spins, every new Coin resets the counter, allowing the grid to fill for even bigger rewards. The feature concludes when spins run out or all the grid spaces fill with Coins, awarding the total value of all collected Coins and delivering an adrenaline-pumping finish.
To add to the ride, landing three Bonus Symbols on reels one, three, and five awards 12 Free Spins, while multipliers carry through the entire bonus round without resetting. This creates huge potential for cascading wins, while re-triggers keep the action going.
To maximise gameplay opportunities, Dolce Far Niente includes Stakelogic’s signature Super Stake™ feature, allowing players to double their chance of triggering Free Spins by increasing the base bet by 50%. For those who prefer direct access to the action, the Buy Bonus feature enables instant entry to Free Spins or Hold ’N’ Win at competitive rates.
James Jelliffe, Head of Slots at Stakelogic, said: “With Dolce Far Niente, Stakelogic has captured the essence of effortless pleasure—blending cinematic visuals, cascading mechanics, and heart-racing multipliers into one irresistible experience. This release sets the stage for future innovation within the slot game portfolio, and its blend of excitement and relaxation is sure to captivate players.”
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SBC Summit Malta: Payments Innovation Track to Tackle Fraud, Crypto, Open Banking & More

As the global betting and iGaming industry descends on Malta this June, payments will take centre stage as part of SBC Summit Malta’s dedicated Payments Innovation track.
The track, which takes place on Thursday, 12 June at the InterContinental Hotel, will unite payments executives, fintech specialists, and compliance leaders to explore the most pressing challenges and emerging opportunities in payment technology.
With sessions on Open Banking, crypto investment, and the future of fraud prevention and KYC, this track equips professionals to navigate regulatory changes, adapt to disruptive technologies, and meet rising player expectations.
Discussing the inclusion of the Payments Innovation track at SBC Summit Malta, SBC CEO and founder, Rasmus Sojmark, said: “Payments are no longer just a backend function. They’re a key strategic pillar for driving engagement, trust, and scalable growth across the industry.
“That’s why we’ve introduced the Payments Innovation track: to give operators, suppliers, and payments professionals a focused space to deep-dive into critical trends in this space. Our goal is to turn these innovations into actionable advantage.”
Open Banking has the potential to reshape how the gambling industry handles payments, enabling faster deposits and withdrawals, real-time KYC checks, and a lower risk of fraud. Open Banking in Europe: The Disruptor Transforming Payments and Affordability will explore whether the technology can truly deliver on its promise. Featuring Theresia Mallia (Head of Payment Product, Kindred), Christian Reinheimer (Director Payments Product & Technology, LeoVegas), and Sean Spiteri (Head of Payment Solutions, PressEnter), and moderated by Rachael Kennedy (Editor, Payment Expert), the session will examine how Open Banking could enhance affordability checks, streamline transactions, and improve player experiences, while also tackling the regulatory and operational challenges facing operators.
As crypto adoption accelerates across gaming and payments, this session cuts through the hype to deliver grounded, actionable advice. The Crypto Myth-Busting and Trends: How to Invest Wisely and Avoid Common Pitfalls workshop will explore how operators, affiliates, and suppliers can approach digital assets with clarity and caution.Through practical exercises and expert insights led by Joseph Borg (Partner, WH Partners), Wesley Ellul (CCO, Quizando), Mark Grech (Founder & CEO, Pyaza), and Sabine Roiss (CEO & Founder, Crypto-Play), attendees will tackle risk mitigation, navigate market volatility, and develop compliant crypto strategies that enhance player trust within evolving payment ecosystems.
The panel Redefining Fraud Prevention addresses the evolving landscape of AML and fraud prevention. Featuring Piotr Lisak (AML Governance Officer & MLRO, Kindred), Sergio Muscat (Founder, Oxygia Consulting), Greg Papanastasiou (CCO, Play North), the session will explore how operators are leveraging AI, streamlined workflows, and cross-industry collaboration to combat fraud, maintain compliance, and stay ahead of increasingly complex threats.
Also featured as part of the track will be the session Beyond Detection: The Convergence of Fraud & AML in iGaming Risk Management, a fireside chat featuring Tim De Borle (COO, Casumo) and Tamas Kadar (CEO, SEON) as they examine how operators can align fraud and AML strategies to strengthen risk management and streamline compliance.
Beyond the Payments Innovation track, SBC Summit Malta will offer attendees deeper insights into key European and global markets through focused tracks, including Casino Evolution, Europe: Regulation & Compliance, Affiliate Insights, Next-Gen Sports Betting, and the Marketing Playbook. Expert-led workshops across both days will also deliver opportunities for hands-on learning.
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Secure your spot at SBC Summit Malta with our discounted ‘Group Pass‘. For groups of three or more, you can gain access to three days of networking, exhibition, and conference content for the price of €400 (a discount of €200 off a Full Event Pass).
Additionally, you can purchase our ‘Expo+ Pass‘ for €150. This pass grants you access to the conference and exhibition only.
Operators and affiliates can apply for complimentary passes, granting them full access to the event.
The post SBC Summit Malta: Payments Innovation Track to Tackle Fraud, Crypto, Open Banking & More appeared first on European Gaming Industry News.
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