Latest News

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.”

BMM Testlabs

BMM Testlabs Earns Accreditation in Maranhão, Brazil To Test Fixed Odds Betting Systems and Lottery Platforms

Published

31 minutes ago

January 22, 2025

GamingAmericas.com

bmm-testlabs-earns-accreditation-in-maranhao,-brazil-to-test-fixed-odds-betting-systems-and-lottery-platforms

BMM Testlabs, the world’s original gaming test lab renowned for exceptional product compliance and testing services, today announced its official accreditation to test systems and games for the Brazilian state of Maranhão.

This new accreditation allows BMM Testlabs to test fixed-odds betting systems and lottery platforms for the Maranhão market. The Company is now authorized in every Brazilian jurisdiction that has regulated at state-level online fixed-odds betting.

The Maranhão accreditation, issued by Maranhão Parcerias SA (MAPA/LOTEMA), authorizes BMM Testlabs to work with lottery operators in the state to ensure compliance and quality standards for the gaming and lottery industry through end-to-end product compliance testing for Maranhão’s standards.

Additionally, Brazil’s Secretaria de Prêmios e Apostas has federally authorized BMM Testlabs to test betting systems, live gaming studios, and online games used by fixed-odds betting operators.

BMM Testlabs’ Marzia Turrini, President of iGaming & Cybersecurity, said, “We are excited and deeply honored that the State of Maranhão’s official lottery has entrusted BMM Testlabs with the responsibility of testing products for their new online fixed odds betting program, knowing that we’ll do so with the highest levels of impartiality, technical expertise, transparency, efficiency, and, most of all, integrity.”

With the Maranhão accreditation, BMM Testlabs solidifies its position as the leading independent test lab in Brazil. BMM Testlabs is accredited in all jurisdictions that have authorized fixed-odds betting for online gaming and sports betting.

BMM Testlabs brings 44 years of global leadership in product compliance across regulated markets and is trusted by games, systems, and lottery manufacturers, suppliers, developers, and regulators worldwide.

In addition to product compliance testing, BMM Testlabs provides end-to-end cybersecurity protection solutions. Through its sister company, RG24seven Virtual Training, BMM also offers compliance-grade virtual training on responsible gaming, anti-money laundering, and other important topics – presented by industry experts and available in English, Spanish, and Portuguese.

The post BMM Testlabs Earns Accreditation in Maranhão, Brazil To Test Fixed Odds Betting Systems and Lottery Platforms appeared first on Gaming and Gambling Industry in the Americas.

eSports

Shaping the Future of Esports: ICE Esports Arena provides essential insights

Published

3 hours ago

January 22, 2025

George Miller

shaping-the-future-of-esports:-ice-esports-arena-provides-essential-insights

Reading Time: 2 minutes

The ICE Esports Arena at ICE Barcelona 2025 plays a key role in educating people about esports and how to access, integrate and regulate this growing vertical, says Clarion Gaming’s leader in Emerging Technology and Esports.

“Part of the role of the Esports Arena and The Esports and Games Conference is explaining exactly what esports is,” said Will Harding. “There is still work to be done in helping regulators to better understand esports. That’s why showcasing esports here at ICE is so important – we’re empowering people who are at the forefront of shaping regulatory policy.”

The ICE Esports Arena continues to grow year-on-year, with four world-ranked professional Counter-Strike 2 teams competing live at ICE 2025 for a US$25,000 prize pool. This year’s winners were 500 (Bulgaria: World ranking: 47).

“In terms of attendees, we have a whole spectrum of people here, from those that are still shocked that computer games have anything to do with sports betting to those that have built incredible businesses around esports,” Harding continued.

“There are also a number of visitors who realise that esports is significant for their business in terms of revenue but don’t necessarily know how to access this vertical, and we’re here to guide them toward unlocking its full potential.

“But the one thing which is absolutely certain is that esports betting is here to stay and it’s going to continue to grow”

He also praised headline partners, esports betting experts Oddin.gg, for their contribution in helping explain why esports is such a commercially important vertical for operators.

“Oddin.gg has been an excellent partner in realising the Esports Arena. Holding a professional esports tournament is a big endeavour. As our headline sponsor, Oddin.gg has played a key role in showcasing how the data and the odds work. They have helped complete the education journey,” he affirmed.

Commenting on ICE’s move to Barcelona, Harding highlighted that both the city and the show’s new venue Fira Barcelona Gran Via have extensive experience with esports, providing a perfect location for the ICE Esports Arena’s continuing expansion.

“It’s very established here. You can walk around Barcelona and see large-scale internet cafes catering for esports fans,” he added. “This represents an ideal foundation for the continued growth of the Esports Arena and The Esports and Games Conference in the years ahead.”

The post Shaping the Future of Esports: ICE Esports Arena provides essential insights appeared first on European Gaming Industry News.

Conferences

Meridianbet CEO Showcases GMGI’s $163M FY2024 Revenue, USA & Brazil Entry at ICR 2025 Conference

Published

3 hours ago

January 22, 2025

GamingAmericas.com

meridianbet-ceo-showcases-gmgi’s-$163m-fy2024-revenue,-usa-&-brazil-entry-at-icr-2025-conference

In a packed room at the prestigious ICR 2025 Conference held in Orlando, FL, Zoran Milosevic, CEO of Meridianbet, captivated the audience of elite investors with GMGI’s remarkable growth story and series of strategic market entries that position the company for significant value creation in 2025 and beyond. The company also led the conference with the highest number of one-on-one investor meetings, signaling strong interest in its growth trajectory.

The world-class event, also known as the financial market Super Bowl, is recognized as the planet’s premier small and medium-cap conference for US listed companies. It brought together over 3,000 attendees, including institutional investors, sell-side analysts, investment bankers, and private equity professionals.

This builds on the success at the 2024 Citi Global TMT Conference, when the company shared insights alongside industry giants like DraftKings, FanDuel, and IBM.

61% Year-Over-Year Growth Positions GMGI as Gaming Industry Leader

The world’s elite investment audience found out a compelling history of growth: GMGI’s preliminary FY 2024 revenue surged 61% year-over-year to $150 million, with pro forma consolidated revenue reaching $163 million.

This exceptional growth trajectory, driven by strategic market expansions and technological innovation, showcases GMGI’s emerging dominance in the global gaming landscape.

Brazil: A Game-Changing Market Entry

In what could prove to be a transformative catalyst, Meridianbet secured a coveted federal license in Brazil – a market projected to reach $2.5-4 billion annually. With instant access to over 100 million potential customers across all 26 states, this strategic move positions GMGI to capture substantial market share in one of the world’s most lucrative gaming opportunities.

North American Expansion Accelerates

The Group’s momentum in North America exemplifies its multi-market growth strategy:

Strategic entry into the rapidly expanding U.S. sweepstakes gaming market, leveraging proprietary content from Expanse Studios
Pending gaming license in Ontario, Canada’s largest regulated market
Deployment of AI-driven gaming solutions to maximize player engagement and retention

GMGI’s Unified Ecosystem: A Competitive Moat

Meridianbet CEO showcased how the Group’s six synergistic companies create a formidable competitive advantage, presenting to investors a unique ecosystem:

Meridianbet’s presence in 18 regulated jurisdictions, powered by 1,200+ employees including 100 software engineers
Expanse Studios’ proprietary game development driving high-margin revenue lowering the reliance on third-party content
Strategic assets across key growth markets: Mexplay in South America, Rkings in the UK, and Classics for a Cause in Australia

2025: Multiple Growth Catalysts Ahead

The confluence of strategic initiatives positions GMGI for accelerated growth:

Brazil market ramp-up expected to drive substantial revenue expansion
Proprietary AI technology deployment enhancing player monetization
First-mover advantages in newly regulated markets
Continued margin expansion through operational efficiencies

For investors seeking exposure to the explosive growth in global gaming, GMGI represents a unique opportunity: a proven operator with proprietary technology, multiple growth vectors, and strategic positioning in the world’s most promising gaming markets.

The post Meridianbet CEO Showcases GMGI’s $163M FY2024 Revenue, USA & Brazil Entry at ICR 2025 Conference appeared first on Gaming and Gambling Industry in the Americas.