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Kambi Group plc Q4 Report 2022

Published

3 years ago

February 22, 2023

George Miller

Reading Time: 3 minutes

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.”

eSports

Esports Foundation names Faker Game Ambassador for EWC and ENC through 2028

Published

8 hours ago

July 15, 2026

Wladimir P.

esports-foundation-names-faker-game-ambassador-for-ewc-and-enc-through-2028

Lee “Faker” Sang-hyeok joins Cristiano Ronaldo and Magnus Carlsen in the Esports Foundation’s Ambassador Program.

The Esports Foundation (EF) has appointed Lee “Faker” Sang-hyeok as a Game Ambassador for the Esports World Cup (EWC) and Esports Nations Cup (ENC) through 2028, the organization said on July 15, 2026 in a statement issued from Riyadh and Paris.

EF said Faker joins Cristiano Ronaldo, listed as the Foundation’s Global Ambassador, and Magnus Carlsen as part of the Esports Foundation Ambassador Program. The Foundation said Faker will represent “the perspective of esports players” across its international events, athlete initiatives, media engagements and leadership forums.

“You can’t talk about esports without mentioning Faker. He is the defining athlete of competitive gaming: a champion whose excellence, discipline and longevity have inspired an entire generation,” said Ralf Reichert, Chief Executive Officer of the Esports Foundation. “As our Game Ambassador, Faker represents something fundamental to the Ambassador Program: esports creates its own global sporting icons. Across EWC, ENC and NGSC, he will help ensure that the players who built this sport have a voice in shaping where it goes next.”

Faker said: “Competition has shaped my life, and I am proud to join the Esports Foundation as Game Ambassador. I want to continue competing for the biggest titles with T1 while representing the players and fans who have helped esports grow worldwide. Through the Esports World Cup, Esports Nations Cup and the Foundation’s wider platforms, I hope to inspire the next generation to pursue excellence, remain resilient and believe in how far competitive gaming can take them. There is still much more to achieve.”

EF highlighted Faker’s competitive record, describing him as a six-time League of Legends World Champion, EWC 2024 winner, two-time MSI champion and ten-time domestic champion with T1. The Foundation also said Faker became the first esports athlete to receive the Blue Dragon Medal in 2026, describing it as the Republic of Korea’s highest sporting honor awarded by President Lee Jae-myung.

The post Esports Foundation names Faker Game Ambassador for EWC and ENC through 2028 appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.

Brand Partnerships

Midnite signs as Middlesbrough FC principal partner for 2026/27 season

Published

15 hours ago

July 15, 2026

Wladimir P.

midnite-signs-as-middlesbrough-fc-principal-partner-for-2026/27-season

Midnite has agreed a partnership with Middlesbrough FC that will see the UK bookmaker become the club’s principal partner and front-of-shirt sponsor for the 2026/27 campaign, which Middlesbrough describes as its landmark 150th season.

The companies announced the deal alongside a fan activation at Riverside Stadium on Thursday, July 9, branded “This Season’s On Us”. The initiative offered supporters prizes including 2026/27 season tickets, 2026/27 shirts, match tickets, or a £25 club shop voucher, with fans required to answer Middlesbrough trivia and complete a football challenge.

Middlesbrough former players Craig Hignett and David Wheater attended the event, and, according to the company, took bonus attempts on behalf of participants who missed out.

Andrew Mook, Midnite’s Head of Brand Marketing, said:

“Middlesbrough have a storied history and we’re delighted to announce this partnership during such a monumental year with the club celebrating their 150th anniversary.

“It was great to see so many Middlesbrough fans at the “This Season’s On Us” activation, we hope they enjoyed taking part and meeting club legends, with David Wheater hitting top bins on several occasions and allowing fans to win big with season tickets.

“We can’t wait to get to Riverside Stadium in August to kick-off a new season and we’re excited to say that we have plenty of new and captivating campaigns planned.”

Lee Fryett, Middlesbrough FC Chief Commercial Officer, added:

“We’re delighted to welcome Midnite as our new Principal Partner.

“We’re looking forward to working closely with Midnite to develop engaging campaigns, content and unique experiences that bring our fans even closer to the club.

“We’re confident this partnership will provide real value for our supporters while supporting our ambitions both on and off the pitch.”

The post Midnite signs as Middlesbrough FC principal partner for 2026/27 season appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.

AGCO

ThrillTech secures AGCO supplier licence for Ontario launch

Published

15 hours ago

July 15, 2026

Wladimir P.

thrilltech-secures-agco-supplier-licence-for-ontario-launch

ThrillTech has been awarded a Gaming-Related Supplier licence by the Alcohol and Gaming Commission of Ontario (AGCO), clearing the company to launch in Ontario’s regulated market.

The licence allows ThrillTech to deploy its opt-in side bet jackpots technology with regulated online casino, sports betting and lottery operators across the province.

Benjamin Bradtke, Co-Founder of ThrillTech, said: “Securing our AGCO licence is a major step in our mission to transform how jackpots are delivered at scale across regulated markets. This latest certification is testament to our robust technology and trusted compliance frameworks, allowing us to continue our global growth trajectory. We are thrilled to bring our proven, compliant jackpot technology to Ontario, empowering locally licensed operators to uplift revenue without cannibalising existing spend.”

The company said its “ThrillPots” mechanics sit as an independent, player-funded side bet and do not alter the underlying game’s return-to-player mathematics.

ThrillTech said the Ontario approval enables its existing multinational partners that also operate in the province to launch its side bet jackpots locally, while it also holds talks with potential new operator partners. The company lists its regulated footprint as including the United Kingdom, Sweden, the Netherlands, Romania, Malta, Gibraltar, Brazil and Peru.

The post ThrillTech secures AGCO supplier licence for Ontario launch appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.