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Kambi Group plc Q1 Report 2023

Published

2 years ago

April 26, 2023

George Miller

Reading Time: 3 minutes

Financial summary

Revenue amounted to €44.0 (Q1 2022: 36.9) million for the first quarter of 2023

Operating profit (EBIT) for the first quarter of 2023 was €4.5 (7.3) million, at a margin of 10.3% (19.9%), which was impacted by certain non-recurring costs

EBITA (acq)* for the first quarter of 2023 was €5.8 (7.7) million, at a margin of 13.1% (20.8%)

Cash flow (excluding working capital and M&A) amounted to €3.2 (5.5) million for the first quarter of 2023

Earnings per share for the first quarter of 2023 were €0.107 (0.178)

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

*EBITA (acq) = Earnings before interest, taxation and amortisation on acquired intangible assets

Key Q1 highlights

Operator turnover and revenue growth of 12% and 19% year-on-year respectively, driven by existing partners and launches into new US states

Partnership extensions signed with Rush Street Interactive and Corredor Empresarial S.A., two of Kambi’s most strategically important partners

Successful Super Bowl and March Madness tournament with increased player activity alongside unblemished service delivery

AI-driven algorithmic trading capability rolled out to major European soccer leagues and other key competitions leading to improved product and greater operational efficiencies

“The first quarter was another busy period for Kambi including new market launches in the Americas, the expansion of Kambi’s partner network and a full sporting calendar. These events helped drive a 12% year-on-year increase in operator turnover and a 19% rise in revenue to €44 million. EBITA (acq) was €5.8 million, impacted by a number of factors including foreign exchange movements and one-off costs to improve future efficiency.

The business hit several important commercial milestones in Q1 as we continue to make significant progress with the key growth drivers detailed at our Capital Markets Day earlier this year. Among these drivers is to extend key partnerships, and I was delighted to secure renewals during the quarter with two of our largest partners in Rush Street Interactive, one of the leading operators in the Americas, and BetPlay owner Corredor Empresarial S.A. which is the market leader in Colombia with plans to expand across Latin America.

European Gaming Congress 2024 (Warsaw, Poland)

Latin America is a region of significant long-term potential for Kambi and will become increasingly integral as we look to extend our lead as the number one supplier across the Americas. Kambi already has a strong foothold in some of the region’s most established sports betting markets such as Colombia and Argentina, and recent public announcements from the Brazilian government show positive signs that regulation of sports betting in Brazil is edging nearer in what is projected to become one of the world’s largest regulated markets.

From a product perspective, Kambi’s expanding AI-driven trading capability is a core component of our vision to redefine what’s possible in sports betting. After a successful roll-out for the soccer World Cup in Q4, this industry-leading method of automated pricing, which blends machine learning with vast amounts of data, was extended to all top European domestic soccer leagues, as well as the Champions League and Europa League. As a result, we can now create more bet offers at a faster delivery speed than the rest of the market, as well as deliver a richer Bet Builder, leading to both a better product and greater efficiencies for the business.

In short, we remain steadfast in our commitment to setting a new standard for sports betting and to pioneer next generation entertainment that eliminates friction and creates new innovative betting options for operators. The road towards our long-term financial targets won’t be linear, but we are carefully putting in place the fundamentals which will enable us to accelerate as we progress. With a market-leading sportsbook that continues to remove product boundaries, a strong sales pipeline and the prospect of further regulation in key markets, I look forward to updating the market over the coming quarters.”

Latest News

EveryTip.com Hits Major Milestone Ahead of Grand National with Record Tipster Listings

Published

13 hours ago

April 3, 2025

George Miller

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Reading Time: < 1 minute

Launched just last month at the beginning of March, EveryTip.com is already celebrating a major early milestone, just in time for this week’s Grand National. The platform has quickly gained traction as a go-to hub for UK bettors, offering a centralised source of high-quality football and horse racing tips.

EveryTip.com brings together expert insights from a wide range of trusted sources, including leading tipsters from the Racing Post, Timeform, and The Guardian, as well as independent professional punters and specialist betting sites. Whether users are looking for daily value picks or tips for the biggest race of the year, EveryTip.com simplifies the search for reliable betting advice.

In addition to its extensive tipster coverage, the platform offers:

Daily NAPs (best bets from proven experts)
A real-time tipster leaderboard, tracking performance and profitability
Full race cards and live odds comparison
Results and up-to-date free bet offers from major bookmakers

Stephen Welch, Operations Director at EveryTip.com, said: “We’re thrilled to have reached this milestone so soon after launching. With the Grand National approaching, it’s clear that there’s strong demand for a platform that brings together quality tips from household names,along with independent analysis, all in one place.”

Created by a team of professional tipsters and analysts, EveryTip.com is committed to helping users bet smarter by making expert insights more accessible. Its early growth reflects a wider trend among punters who want deeper insights and performance transparency when choosing who to trust.

Looking ahead, the platform plans to expand into additional sports and betting markets, building on its expert-led foundation.

“We want EveryTip.com to become the essential tool for all serious bettors,” Welch added. “We’ll continue to grow the site with more data-driven tools, expanded coverage, and exclusive offers that add real value.”

The post EveryTip.com Hits Major Milestone Ahead of Grand National with Record Tipster Listings appeared first on European Gaming Industry News.

Blitzcrown

Blitzcrown Secures GLI Certification for Three Crash Games in Brazil

Published

13 hours ago

April 3, 2025

GamingAmericas.com

blitzcrown-secures-gli-certification-for-three-crash-games-in-brazil

Breaking New Ground in Brazil: Blitzcrown’s Crash Games Now GLI Certified

Blitzcrown, MVG’s pioneering games studio, has secured Brazilian Certification as well as GLI-19 Certification from GLI(Gaming Laboratories International) for its industry-changing three Crash titles. This landmark achievement marks a significant milestone in the company’s expansion into Brazil’s thriving online gaming market, positioning Blitzcrown at the forefront of the region’s rapidly evolving iGaming landscape.

The license comes at an important time for Brazil’s gaming sector, following the launch of the new licensing regime that started on January 1, 2025. The regulatory framework, signed into law in December 2023, has transformed the industry’s prospects.

The certification encompasses 3 innovative crash games: Crash, Fast Crash, and Twin Crash. This strategic milestone establishes Blitzcrown as the premier provider of certified Crash games in the Brazilian market, demonstrating the company’s unwavering commitment to regulatory excellence and gaming integrity. With the GLI-19 and Brazil certification process successfully concluded in March, Blitzcrown has solidified its position as an industry pioneer in this dynamic and emerging market.

Crash games are a recent addition to the global iGaming market, featuring the dynamic evolution of real-time multipliers and immediate reward structures. Blitzcrown has stood out by establishing groundbreaking game mechanisms that offer different and exciting gameplay experiences. Standard Crash provides players with a standard multiplier-based gaming experience, and Fast Crash is optimized for users seeking quick, intense multiplier experiences. The Twin Crash is an original format allowing players to place simultaneous bets on two separate multipliers.

Building on this momentum, Blitzcrown has announced plans to expand its certified portfolio with two additional versions of its innovative Plinko games, demonstrating the company’s strategic commitment to market expansion. This forward-looking initiative underscores Blitzcrown’s dedication to continuous innovation and sustainable growth in the regulated gaming markets.

Blitzcrown is MVG’s edge-game studio focused on pushing game ideas beyond their norms through innovative and non-traditional gaming experiences. The studio has been particularly recognized for its groundbreaking approaches in various game categories, including its successful Crash and Plinko series.

George Cho from MVG said: “This GLI certification testifies to Blitzcrown’s unwavering commitment to offering top-quality, fair gaming systems. We are well placed to take advantage of Brazil’s exciting new regulatory environment and the vast growth potential of the online gaming industry.”

The post Blitzcrown Secures GLI Certification for Three Crash Games in Brazil appeared first on Gaming and Gambling Industry in the Americas.

Andres Troelsen Belatra Games’ Commercial Director for Latin America

Belatra excited to present LatAm innovations at BiS SiGMA Americas 2025

Published

13 hours ago

April 3, 2025

GamingAmericas.com

belatra-excited-to-present-latam-innovations-at-bis-sigma-americas-2025

Belatra Games, the specialist online slots developer, is set for its latest appearance at BiS SiGMA Americas in São Paulo, Brazil, from April 7-10, 2025. The company will be based at Stand M30, where it will not only showcase its LatAm innovations but also celebrate its 32nd birthday.

This major milestone brings an extra layer of excitement to Belatra’s time in Brazil. iGaming professionals visiting the stand will enjoy an immersive experience inspired by the studio’s popular classics Make it Gold and Mummyland Treasures. Belatra’s stand includes a smoky bar for a mysterious touch, a prize-filled game for visitors, and a live Mummy roaming the event floor to bring the experience to life.

Belatra’s extensive portfolio of award-winning titles brings together timeless hits with powerful, innovative themes, providing unforgettable entertainment for players.

With a strong foothold in LatAm, Belatra’s regional team, based in Buenos Aires, and Belatra’s global team will be in São Paulo to explore new collaborations and showcase its localised approach to the market.

Andrés Troelsen, Belatra Games’ Commercial Director for Latin America, said: “Our Latin American presence grows ever stronger with the region forming a major part of our growth strategy. We’re happy to be back in São Paulo for BiS SiGMA Americas to connect with partners and explore new opportunities. This year is extra special as we celebrate our 32nd birthday, so come raise a glass with us at our smoky bar!”

The post Belatra excited to present LatAm innovations at BiS SiGMA Americas 2025 appeared first on Gaming and Gambling Industry in the Americas.