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Kambi Group plc Q4 Report 2022

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Financial summary

  • Revenue amounted to €57.8 (Q4 2021: 34.9) million for the fourth quarter of 2022, including a €12.6 million termination fee from PENN Entertainment, and €166.0 (2021: 162.4) million for the period January to December of 2022
  • Operating profit (EBIT) for the fourth quarter of 2022 was €18.7 (7.1) million, at a margin of 32.3% (20.2%), and €34.8 (57.0) million, at a margin of 20.9% (35.1%) for the period January to December of 2022
  • Revenue and operating profit (EBIT) excluding the termination fee from PENN Entertainment were €45.2 and €6.0 million respectively for the fourth quarter of 2022, and €153.4 and €22.2 million for the period January to December of 2022
  • Earnings per share for the fourth quarter of 2022 were €0.491 (0.198) and €0.861 (1.501) for the period January to December of 2022
  • Cash flow (excluding working capital and M&A) amounted to €17.9 (4.8) million for the fourth quarter of 2022 and €25.2 (44.6) million for the period January and December of 2022
  • The 2023 AGM will be held on 11 May 2023. The Board proposes that no dividend is paid out.
  • The Board of Directors decided on 19 January 2023 to adopt long-term financial targets in line with Kambi’s strategic vision

Key Q4 highlights

  • Operator turnover growth of 20% year-on-year and 43% sequentially, driven by return of busy US sporting calendar and market expansion
  • Revenue increased 30%, excluding the termination fee, on back of strong operational performance
  • Successful soccer World Cup that saw strong platform stability and a leading offering for partners, powered by newly developed algorithmic trading capability
  • New partnership agreement with Rei do Pitaco, the number one fantasy sports operator in Brazil, which will leverage brand and database to transition to sports betting

Highlights after Q4

  • Agreed extension to successful partnership with Rush Street Interactive, one of the leading operators in the Americas
  • Extended footprint in North America with day one market launches in Massachusetts and Ohio which have a combined population of nearly 20 million
  • Continued commercial momentum with the signings of Miami Valley Gaming in Ohio and del Lago Resort & Casino in New York, as well as the renewal of Sun International in South Africa

“The year finished with a flourish with the business delivering across several key areas, providing the perfect springboard into 2023. Operator turnover continues to rise with Q4 turnover up 20% year-on-year and 43% sequentially, buoyed by a busy US sporting calendar.

The soccer World Cup was also an important event for us during the period. Overall, player engagement was excellent with the World Cup final the highest turnover for a soccer game in Kambi’s history. However, the trade-off was a significant reduction in domestic soccer fixtures as top leagues took a mid-season break. A key World Cup highlight was the strength of our product, driven by our third-gen algorithmic trading capability, which we discussed in depth at our recent Capital Markets Day.

This new method of trading automation has been in development for a few years, with the World Cup providing us with the perfect opportunity to stress-test it at scale and we couldn’t have been happier with its performance. Powering our entire pre-match offering, this proprietary capability leverages the full power of data to deliver an even greater product, with more betting opportunities presented to the player in a quick and cost-efficient way. Since the World Cup, we have fully automated the pre-match pricing to deliver a World Cup standard product across many of the top domestic leagues and will continue the roll out across the year to realise more of its benefits, including the automation of in-play pricing.

Just days after the World Cup final, we signed a partnership agreement with Rei do Pitaco, the largest fantasy sports operator in Brazil. I have high hopes for this partnership, having seen the impact fantasy sports databases can have when transitioned to regulated sports betting. The agreement also strengthens our position in Latin America, where we have already taken the leadership position in Colombia and continue to expand in Argentina, adding a further four provinces during the quarter.

Looking back on the full year, it was one where Kambi was able to make significant strategic progress, whether it was securing partnership extensions with Kindred and Parx, the numerous new partners we signed, the leap forward in our UX capability through the acquisition of Shape Games, the continued modularisation of our service to increase our addressable market or the development of our algorithmic trading capability.

All these achievements and more saw us enter 2023 in a fantastic position, one which was quickly strengthened by the extended partnership agreement with Rush Street Interactive in January. The global economic outlook might be uncertain, but we have a proven, robust business, one which is ready to meet any challenges that lie ahead. With a clear focus on the updated strategy we detailed at our Capital Markets Day, we are ready to build towards the financial targets we’ve set ourselves for the coming years.”

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22Bet Partners Launches €10,000 Total Prize Pool Affiliate Giveaway for New Partners

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22Bet Partners has launched a new social media giveaway designed to welcome new affiliates into its global partner network — this time with a €10,000 total prize pool waiting to be claimed.

The campaign, hosted on the company’s official Instagram page and running until April 15, will select ten winners, each receiving €1,000 credited to their affiliate account. The initiative offers new partners an opportunity to join the program while boosting their starting affiliate balance from day one.

Participation in the campaign follows a simple format familiar to anyone active on social media. To enter the giveaway, participants need to complete three steps:

Once the campaign concludes, ten winners will be randomly selected from participants who completed all steps and liked the post. Selected users will be contacted directly and asked to provide their Affiliate ID so the reward can be credited to their affiliate account.

More detailed participation rules and conditions can be found in the official giveaway post on the 22Bet Partners Instagram page.

The promotion is available exclusively to new affiliates joining the 22Bet Partners program. The initiative reflects the brand’s ongoing focus on expanding its global affiliate network and supporting partners who choose to grow alongside the platform.

General 22Bet Partners Terms & Conditions apply to this promotion.

The post 22Bet Partners Launches €10,000 Total Prize Pool Affiliate Giveaway for New Partners appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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Brazil

LOUD and SuperGaming Launch Prime Rush in Brazil, Bringing Battle Royale and Extraction Gameplay for Mobile

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Prime Rush, a mobile shooter combining battle royale survival with extraction-style gameplay, has officially launched in Brazil on Google Play for Android and the App Store for iOS. Developed by SuperGaming in partnership with Spacecaps, the parent company of LOUD, the game has been built with direct feedback from Brazilian players and creators during its Closed Beta and Early Access phases.

Prime Rush introduces a unique twist to the traditional battle royale format. In addition to surviving until the end of the match, squads can secure an early victory by extracting Cosmium, a rare resource that spawns during the final circle. This dual win condition creates a match environment where squads must decide whether to outlast opponents in a final-circle finish or take a more tactical route to win through Cosmium extraction.

The game also features a flexible tactical ability system built for high-tempo mobile combat. Active Abilities such as DeadEye, Shield Dome, Super Speed, and Hunter’s Instinct allow players to approach matches through precision, defense, mobility, and intel respectively.

Bruno Bittencourt, CEO of LOUD, said:
“Brazil has one of the most passionate gaming communities in the world, yet we’ve spent years playing games that weren’t built with us in mind. Prime Rush is a game created for Brazilian players, shaped daily by the communities we’ve built over the past decade. We’ve been listening to them every single day. It’s a game that finally feels like home.”

Roby John, CEO and Co-founder of SuperGaming, added:
“Brazil has one of the most competitive mobile shooter audiences that we have seen, and from the start we wanted Prime Rush to be both authentic and accessible. For us, that meant building a game that feels true to Brazil while also making sure it runs smoothly across a broad range of devices so more players can experience it the way it was meant to be played.”

The battle takes place on the island of Maré, the setting for Prime Rush’s battle royale extraction experience. Prime Rush also includes a Mini TDM mode (Favela) — a quick 4v4 mode designed for shorter, high-intensity firefights on the go.

At launch, the game introduces a lineup of new Brazilian heroes including Juliana, Rafael, Miguel, Rogério, Dos Santos, Julia, and Gustavo, with character customization allowing players to personalize their experience. Players can also customize their weapon experience with the new Evo-X skins. These are upgradeable gun skins featuring three switchable chromas, enhanced visuals and VFX, unique inspect and reload animations, custom fire SFX, unique kill feed treatment, and distinct muzzle and tracer effects.

Prime Rush goes live with multiple limited-time modes including DeadEye Rush, Pants in the Air, and Weapon Roulette, offering players shorter duration matches for quick jump-in and jump-out sessions beyond its core battle royale extraction gameplay.

The game launches with its first Ranked Season, allowing players to climb through Bronze, Silver, Gold, Platinum, Diamond, Champion, Legend, and Cosmic.

Season 1 Battle Pass: Street Legends is also here, bringing a new lineup of rewards for players as they progress through the season. These include:

  • New Avatars: Laura, Juliana, Rafael

  • Weapon Skins: Subliminar, Grafitada, Suavidade, Firmeza, Raiz, Brabo, AK-BR7

  • Melee Weapon: Chinela (Slipper)

  • Vehicle Skin: Lenda Urbana

  • Additional Rewards: Stickers, Dive Trails, Emotes, and Portraits

Prime Rush System Requirements
Powered by SuperPlatform, SuperGaming’s in-house tech stack, Prime Rush currently supports Android 7 and above with 4GB RAM, as well as iOS 15 and above. Based on Early Access performance reports, the game delivers a stable 40 FPS on lower-end devices with recommended graphics settings, while mid-to-high-end devices can achieve up to 60 FPS.

This makes Prime Rush playable across a wide range of mobile devices, helping ensure that more players in Brazil can access the game on both Android and iOS. SuperGaming is continuously optimizing Prime Rush to support more devices over time. Performance and visual fidelity may vary depending on hardware and user-selected graphics settings.

Players can check out the launch trailer here: https://www.youtube.com/watch?v=Op5KreKoLmY

The post LOUD and SuperGaming Launch Prime Rush in Brazil, Bringing Battle Royale and Extraction Gameplay for Mobile appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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BETER

FeedConstruct Powers BETER’s Integration with LV Bet as Official Technology Partner

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FeedConstruct, a leading provider of sports betting technology solutions, has been appointed as the official technology partner facilitating BETER’s integration with LV Bet. Using FeedConstruct’s advanced infrastructure, BETER’s exclusive esports and sports content is now fully accessible to LV Bet players, ensuring a seamless and high-quality betting experience.

This partnership highlights FeedConstruct’s role in delivering scalable, reliable, and high-performance solutions that streamline content deployment for operators while supporting providers in reaching new audiences. By simplifying integration and optimizing distribution, FeedConstruct helps reduce time-to-market and ensures consistent performance at scale.

“We are proud to support BETER in its collaboration with LV Bet,” said Arsen Baghdasaryan, CCO at FeedConstruct. “Our technology enables fast, stable content delivery, helping providers expand commercially and operators offer reliable, revenue-driving solutions.”

Chuck Robinson, CRO at BETER, added: “FeedConstruct’s expertise allowed us to integrate seamlessly with LV Bet. Their technology ensures our fast-paced content is delivered efficiently and reliably, enhancing the betting experience for users.”

Marcin Doszczeczko, CEO at LV Bet, said: “Esports and short-format competitions are rapidly growing. Integrating BETER content via FeedConstruct strengthens our live offering, boosts player retention, and diversifies revenue streams. This partnership is a key part of our 2026 product strategy.”

The collaboration reinforces FeedConstruct’s commitment to connecting leading content providers with operators through innovative, scalable technology solutions that drive engagement, retention, and commercial growth.

The post FeedConstruct Powers BETER’s Integration with LV Bet as Official Technology Partner appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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