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Kambi Group plc Q1 Report 2023
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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Arizona Department of Gaming and Arizona Lottery Announce Proclamation Recognizing September 2025 as Responsible Gaming Education Month
State agencies join forces to raise awareness, promote prevention, and provide tools for safe and responsible play.
The Arizona Department of Gaming (ADG) and the Arizona Lottery are proud to announce a joint effort in support of a new Proclamation recognizing September 2025 as Responsible Gaming Education Month in Arizona.
Responsible gaming is about ensuring that individuals who choose to play have the tools, resources, and knowledge they need to make informed decisions and enjoy gaming as a form of entertainment. While problem gambling initiatives focus on helping those already experiencing harm from gambling, responsible gaming emphasizes prevention by encouraging healthy play behaviors before they reach a critical point.
Throughout September, and continuing in the months ahead, the ADG and Arizona Lottery will work together to strengthen education and awareness initiatives. The goal is to equip players with strategies and resources that help them keep gaming fun and safe, while helping reduce the risks associated with problem gambling.
“For over 30 years, the Arizona Department of Gaming has safeguarded the integrity of gaming through strong consumer protections, enforcement against illegal operators, and support services for those impacted by problem gambling,” said Jackie Johnson, Arizona Department of Gaming Agency Director. “During Responsible Gaming Education Month, we remind everyone that part of playing responsibly is being informed—always double-check before you place your bet to ensure you are using a legal, regulated operator at gaming.az.gov/checkyourbet.”
The Arizona Lottery also remains steadfast in its commitment to responsible play and has a Level 2 certification with the World Lottery Association for responsible gaming. Lottery games benefit the people of Arizona by generating critical revenue that funds education, healthcare, environmental conservation, and economic development. At the same time, the Lottery prioritizes the well-being of its players. Each ticket includes clear odds of winning, vending machines display game odds, and the 1-800-NEXT-STEP helpline is featured across Lottery products and advertising.
“We are proud to deliver entertainment that benefits communities across our state, while recognizing our responsibility to promote safe play,” said Alec Thomson, Arizona Lottery Executive Director. “Through transparency and awareness, we want every player to have the tools they need to make informed decisions and enjoy the Lottery responsibly.”
As Arizona observes Responsible Gaming Education Month, ADG and the Arizona Lottery encourage all players to stay informed, know their limits, and seek help if needed. Together, we can ensure that gaming remains a source of entertainment that strengthens, rather than harms, Arizona communities.
For more information and resources, visit gaming.az.gov/ResponsibleGaming or ArizonaLottery.com/ResponsibleGaming. If you or someone you know may be struggling with problem gambling, call or text 1-800-NEXT-STEP for confidential support available 24/7.
The post Arizona Department of Gaming and Arizona Lottery Announce Proclamation Recognizing September 2025 as Responsible Gaming Education Month appeared first on Gaming and Gambling Industry in the Americas.
Internet Gaming Operator by the Alcohol and Gaming Commission of Ontario (AGCO).
This significant milestone authorizes absolutebet to offer regulated iGaming services in Ontario’s legal market under the oversight of AGCO and iGaming Ontario (iGO).
The registration marks a key step in absolutebet’s mission to bring a trusted, responsible, and innovative online casino experience to Ontario players. absolutebet is committed to operating with integrity and transparency, meeting all provincial standards for player protection, responsible gambling, anti-money laundering, and game integrity.
“Securing AGCO registration is more than a milestone—it’s the start of absolutebet’s journey in one of the most exciting regulated markets in the world,” said Chen Truman, Founder of absolutebet. “We are building a brand that will grow with the Ontario community and set the stage for future expansion.”
On the regulatory milestone, Krisztina Kalla, Legal & Regulatory Compliance Advisor of absolutebet, commented: “I’m incredibly proud to see all the hard work behind this license pay off. Securing AGCO registration has taken months of preparation and close collaboration with regulators and partners. I am very happy to see the result of that work, and even more excited as we move into the launch phase and open up the absolutebet community to Ontario players in a fun and responsible way.”
Ontario is recognized as one of the most competitive and fast-growing regulated iGaming markets in North America. With AGCO registration secured, absolutebet will move forward with the final stages of its iGO onboarding process in preparation for launch.
The post absolutebet Secures AGCO Registration as an Internet Gaming Operator in Ontario appeared first on Gaming and Gambling Industry in the Americas.
Seasoned iGaming executive brings decade of commercial expertise to drive B2B growth
VeliTech, the B2B technology division of Veli Group, today announced the appointment of Mats Lundin as Chief Sales Officer (CSO). Lundin brings over 10 years of commercial leadership experience across the iGaming sector to accelerate VeliTech expansion as operators worldwide seek battle-tested platform solutions.
In his new role, Lundin will spearhead VeliTech global sales strategy, focusing on delivering the company’s comprehensive suite of iGaming solutions to operators seeking proven technology backed by real-world performance. His appointment reinforces VeliTech commitment to partnering with operators who demand more than promises – they want technology that is already winning in the market.
“Mats embodies the kind of proven expertise that our operator partners expect,” said Giorgi Aleksidze, CEO at VeliTech.
“His track record of building meaningful relationships and driving revenue growth aligns perfectly with our approach of backing our technology with real results. When we say we bet on our tech, we need leaders who understand what that means in practice.”
Lundin joins VeliTech from Vegangster, where he served as Sales Manager. His career spans key roles including Director of Sales and Chief Commercial Officer at Gaming Corps, Head of Sales at iSoftBet, and various commercial positions where he consistently delivered revenue growth and market expansion
“What drew me to VeliTech is their unique position in the market,” said Lundin.
“This is not just another platform provider making bold claims – this is a team that operates their own gaming brands and proves their technology works where it matters most. That combination of technical excellence and real-world validation creates compelling value for operators.”
Throughout his career, Lundin has specialised in provider and operator relationship management, regulatory navigation, and market analysis. His expertise spans both B2B and B2C sectors, with a proven ability to identify growth opportunities and translate them into sustainable commercial success.
The VeliTech platforms cover all critical aspects of iGaming, including player account management, no-code CRM, payment gateway, content aggregation, and game development. The appointment of Lundin as CSO comes as the company continues expanding its presence across regulated markets, from European casinos to emerging African markets.
The post VeliTech Appoints Mats Lundin as Chief Sales Officer appeared first on European Gaming Industry News.
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