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Kambi Group plc Q1 Report 2023

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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.

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.”

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Bragg Partners with Super Technologies to Power Ambitious Strategic Expansion

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Bragg Gaming Group has revealed a strategic alliance with Super Technologies (“Super”), a prominent global entertainment technology firm that also manages Sports betting and iGaming brands, to offer Bragg’s complete range of content aggregation and delivery services. This agreement positions Bragg as a crucial execution partner, providing a reliable, scalable content operation for Super Technologies’ diverse brand and jurisdiction portfolio.

The collaboration enhances a relationship that started in 2020 and has already experienced successful launches in Brazil, Belgium, Romania, and most recently, Serbia. The contract aims to assist Super’s bold strategic growth initiative by facilitating quick access to high-quality content, alongside ensuring the essential technical and compliance preparations for challenging regulated regions. The strategic alliance greatly improves Super’s platform content offerings and compliance scope. The arrangement centers on providing enhanced-quality, market-tailored games and encompasses the supply of third-party, proprietary, exclusive, and custom content through the Bragg Remote Games Server (RGS) and the Bragg HUB content distribution platform. Additionally, Bragg’s FUZE™ promotional, engagement, and gamification toolset will be further deployed across specific selected content.

Bragg’s RGS is authorized, certified, or recognized for providing casino games and various iGaming products in over 30 globally regulated gaming markets. The Bragg HUB content delivery platform, undergoing constant updates, presently offers more than 13,000 titles. Bragg’s content pipeline is driven by its internal studios, Wild Streak Gaming, Atomic Slot Lab, and Indigo Magic, alongside its “Powered by Bragg” partners, all dedicated to delivering distinctive, localized content for over 30 regulated markets.

Matevž Mazij, CEO of Bragg Gaming Group, commented: “We are excited to be selected as preferred partner to Super Technologies. This partnership is built to win, providing frictionless services, unified delivery and promotional solutions to their multi-brand ecosystem and unlocking stronger performance, lower costs, and faster execution. We are a leading specialist in regulated market gaming aggregation, ready to power every Super Technologies brand, everywhere.”

Maxim Verplanken, VP Product – Gaming of Super Technologies stated: “Our decisions always derive from our driven customer-centric mindset. Selecting Bragg as our preferred content Delivery Partner was a strategic choice driven by the diversity of their content provider portfolio, as well as the strong technical support and partnership mindset that they have demonstrated. Furthermore, this partnership reflects the depth of our entertainment ecosystem and underscores the high quality of Bragg’s products and its consistent ability to deliver fully compliant, market-leading solutions.“

The post Bragg Partners with Super Technologies to Power Ambitious Strategic Expansion appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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Million Games Reveals Temple Treasure, a High-Stakes Adventure Slot with Hold & Win

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Million Games is excited to unveil Temple Treasure, a thrilling adventure slot aimed at immersing players in an exciting expedition into the depths of a historic jungle temple. Filled with Hold & Win mechanics, a Bonus Pick option, and Free Spins, Temple Treasure guarantees thrilling excitement and legendary prizes.

Players will accompany daring adventurer Maya Stone as they traverse the sacred temple, discovering enchanting symbols, concealed artifacts, and significant rewards throughout their journey. Featuring a 5×3 reel configuration, 50 paylines, and a maximum payout of 10,000x the wager, Temple Treasure offers an extreme volatility experience that amplifies high-stakes action with significant winning opportunities.

The game includes three exciting bonus rounds, such as the Hidden Temple Bonus, where players gather Money Symbols to access the jackpot. The Enchanted Chests Bonus provides immediate-win multipliers for greater payouts. The Ancient Relic Free Spins feature changes the reels, combining reels 2, 3, and 4 into a gigantic Mega Symbol, enhancing the chances for big wins.

Thomas Nimstad, CEO of Million Games, shared his excitement about the release: “With Temple Treasure, we wanted to create a true adventure slot – one that captures the thrill of discovery and the excitement of high-stakes gameplay. The combination of Hold & Win mechanics and the Bonus Pick feature makes every spin a journey into the unknown, where hidden riches and legendary rewards await. We can’t wait for players to explore the temple and experience the excitement for themselves.”

The post Million Games Reveals Temple Treasure, a High-Stakes Adventure Slot with Hold & Win appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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Record-breaking volumes at the World Sports Betting Cape Town Met, powered by OpenBet technology

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OpenBet, a global leader in betting and gaming technology, powered record-breaking volumes for World Sports Betting (WSB) during the 2026 World Sports Betting Cape Town Met, processing more than three times WSB’s typical daily activity with zero downtime.

The Cape Town Met is one of South Africa’s premier horseracing events, drawing intense traffic that tests platform performance. Less than a year after migrating to OpenBet’s unified technology stack, WSB demonstrated the resilience and scalability of its platform under extreme demand.

OpenBet’s Player Account Management (PAM) technology and sportsbook solution — phased in with PAM going live in February 2025 and the sportsbook in October 2025 — now underpin WSB’s enterprise-grade wagering infrastructure across both digital and retail channels. The integrated system delivers streamlined KYC, a unified wallet, accurate reporting and a robust compliance framework designed for South Africa’s regulatory environment.

Enhanced features available to WSB customers include 50-leg accumulators, partially redeemable free bets, advanced Telebet telephone betting and integrated pools betting for sports and racing through OpenBet’s advanced trading system.

“With the World Sports Betting Cape Town Met, we processed more than three times the usual volume with zero downtime, showcasing the strength and scalability of our technology,” said Runa Walia Desai, Chief Customer Experience Officer at OpenBet. “This milestone also extends our footprint into Africa, reinforcing our position across six continents.”

Warren Tannous, CEO of World Sports Betting, added that OpenBet’s modular solution gives the operator the confidence to expand its sportsbook offering and support increased user engagement while maintaining performance and compliance.

The post Record-breaking volumes at the World Sports Betting Cape Town Met, powered by OpenBet technology appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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