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Kambi Group plc Q1 Report 2022

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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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BMM Testlabs to Exhibit at SiGMA Asia Summit 2026

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BMM Testlabs announced its participation in the SiGMA Asia Summit May 31-June 3 at the SMX Convention Center Manila.

Attendees can visit BMM Testlabs at Stand No. 2619 to learn how the Company supports suppliers, operators and regulators across regulated gaming markets worldwide through its comprehensive compliance and product certification services.

BMM will highlight its ability to test and certify gaming products to every regulator’s standard, anywhere in the world.

In the Philippines, BMM Testlabs is licensed to provide testing and certification services for slot machines, table games, electronic table games, iGaming, bingo, retail and online sports betting, poker and mobile gaming solutions.

BMM Testlabs’ Vice President, Business Development – Asia Jeffrey Fong said: “SiGMA Asia Summit continues to be an important event for the gaming industry across the Asia-Pacific region. We are proud to support suppliers, operators, and regulators with trusted compliance expertise that helps bring products to market efficiently and responsibly. Our global experience, combined with our strong regional knowledge, allows us to help our customers grow confidently in regulated gaming markets throughout Asia and beyond.”

BMM Testlabs continues to expand its support of regulated gaming markets worldwide through its global network of laboratories and technical experts, helping customers achieve faster market access while maintaining the highest standards of quality, security and regulatory compliance.

The post BMM Testlabs to Exhibit at SiGMA Asia Summit 2026 appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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Amusnet

Amusnet Hosts Second Charity Run to Empower Bulgarian Athletes

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For a second consecutive year, Amusnet united employees, families, friends and sports enthusiasts around a meaningful cause through the Amusnet Charity Run. It is a corporate initiative combining active lifestyles, teamwork and social impact. The event was initiated by Konstantin Ivanov, Director, Engineering Casino at Amusnet, and has quickly become a growing tradition within the company.

This year’s edition attracted nearly 200 participants, including representatives from almost every division across the organisation, with especially strong involvement from the technical, product, compliance and production teams. Employees took part alongside family members and friends, turning the event into a celebration of community spirit and shared values.

The initiative aims to support athletes from the National Paralympic Organisation in their preparation for upcoming national and international competitions. For every kilometre completed, Amusnet donated funds to the Organisation in support of the athletes and their future participation in competitions, reflecting the idea that sport unites people, builds resilience and drives positive change.

Participants collectively covered an impressive 960 kilometres, and the atmosphere throughout the event reflected strong engagement and enthusiasm across all levels of the company, from employees and specialists to division leads and management representatives. Many colleagues joined the initiative for a second consecutive year, further reinforcing the event’s importance within the company culture.

“This event is a sporting challenge for us, but also reflects the spirit of solidarity and responsibility shared across the company. Seeing so many colleagues and their families personally support this cause proves that when people unite around a meaningful mission, they can create real impact,” said Konstantin Ivanov, Director, Engineering Casino at Amusnet and initiator of the Charity Run.

Ilia Lalov, Chairman of the National Paralympic Federation, said: “Support like this is invaluable for our athletes. Beyond the financial contribution, initiatives such as the Amusnet Charity Run send a strong message of respect, inclusion, and encouragement to the entire Paralympic community. We are grateful to everyone who stood behind this cause.”

The post Amusnet Hosts Second Charity Run to Empower Bulgarian Athletes appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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Amusnet Greece

Amusnet Goes Live with Superbet in Greece

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Amusnet Greece has launched its portfolio on Superbet.gr, marking an important step in strengthening its presence in the Greek regulated market.

Through this partnership, the players can now enjoy a selection of Amusnet’s most popular and proven titles, known for their engaging gameplay, reliability and high-quality design. The rollout features 69 top-performing titles, providing a robust selection of content from day one.

The initial release for Greece includes world-renowned games such as Shining Crown and Shining Crown Buy Bonus, the 14 Golden Coins Link Jackpot titles and the popular “Hot” series featuring Super Hot, Power Hot and Burning Hot. These games offer players a balanced mix of classical mechanics and modern features, tailored to the local audience’s preferences.

“We are grateful to be part of Superbet’s entry into the Greek market and excited about the opportunities this partnership brings. With our strong local presence and proven performance in the market, we are confident we can support Superbet in building a competitive and engaging offering from day one,” said Jelena Stankovic, Director at Amusnet Greece.

“Partnering with Amusnet, a globally renowned provider with strong traction in the Greek market, marks another milestone in our ambitious growth journey, while elevating our commitment to delivering a next-level, immersive entertainment experience for our customers,” said Stathis Leontaritis, Casino Lead at Superbet Greece.

The launch further reinforces Amusnet’s commitment to expanding its footprint in key regulated markets while delivering tailored, high-quality content to local audiences through trusted partners like Superbet.

The post Amusnet Goes Live with Superbet in Greece appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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