Uncategorized
Kambi Group plc Q3 Report 2022
Financial summary
- Revenue amounted to €36.7 (Q3 2021: 41.6) million for the third quarter of 2022 and €108.2 (2021: 127.5) million for the period January to September of 2022
- Operating profit (EBIT) for the third quarter of 2022 was €3.9 (14.7) million, at a margin of 10.6% (35.4%), and €16.1 (50.0) million, at a margin of 14.9% (39.2%) for the period January to September of 2022
- Earnings per share for the third quarter of 2022 were €0.084 (0.384) and €0.370 (1.302) for the period January to September of 2022
- Cash flow (excluding working capital and M&A) amounted to €1.8 (11.9) million for the third quarter of 2022 and €7.3 (39.8) million for the period January and September of 2022
Key Q3 highlights
- Operator turnover increased by 12%, driven by new partner signings and market launches
- Expanded the partner network in the Americas with four new signings of ilani, Mohegan, Oaklawn Racing Casino Resort and Ondiss
- Acquired front end specialist Shape Games, a profitable and fast-growing business that will provide Kambi with market-leading native front end technology
Highlights after Q3
- Partnered with Great Canadian Entertainment, a leading on-property gaming and entertainment company owned by an affiliate of Apollo Global Management
- Signed agreement with PENN Entertainment that provides for ongoing revenue share payments during the transition period and $27.5 million in early termination and transition fees
“The third quarter is always the most challenging for the sports betting industry given the quiet sporting calendar and this year was no exception. It was also a quarter marked by growing global economic uncertainty and higher cost of living, trends which show little sign of subsiding any time soon. Despite this, Kambi proved its resilience once more and I am pleased to report another busy quarter for the business with operator turnover growth of 12%.
Kambi also saw great commercial momentum during the quarter with the signings of ilani, Mohegan, Oaklawn and Ondiss, and with the recent signing of Great Canadian Entertainment, one of Canada’s largest on-property gaming companies, Kambi’s partner network was significantly strengthened. Owned by Apollo Global Management, which holds a number of gaming assets, Great Canadian has the potential to become a major player in the Canadian sportsbook market and its selection of Kambi underlines our position as the partner of choice in the Americas.
Our UX capability was also enhanced during the quarter with our acquisition of front end specialists Shape Games. This is a landmark deal for Kambi for many reasons. Crucially, it gives us the fully-fledged, native front end capability at a time when the front end experience is a more vital part of the sports betting value chain than ever before. Having worked closely with Shape Games on various projects in recent years, I have seen first-hand the strength of their technology and the level of expertise they possess, and I am pleased to welcome such a profitable and rapidly growing business to the Kambi Group. The acquisition will not only complement our turnkey solution but it also aligns with our modularisation strategy with the front end module set to be sold as a standalone service outside of the existing network, thereby increasing our total addressable market.
We continue to make great strides towards executing our modularisation strategy and can reveal that our award-winning Bet Builder, which recently launched for NBA, the final major US team sport to be added to the product, has been identified as the first standalone module we’ll go to market with. Unlike our key competitors, Kambi’s Bet Builder was created as part of the core sportsbook, thereby benefitting from our expertise in areas such as competitive pricing, unique user experience and risk management, creating a compelling product for operators to integrate.
Our future is looking promising, operating from a strong position as we enter an economic recession which, while it will no doubt present challenges, may prove positive for B2B businesses such as Kambi in the long term. When also taking into consideration the recent start of the US basketball season and a World Cup still to come, we look forward to ending 2022 on a high before embarking on an exciting 2023.”
Powered by WPeMatico
Eagerly anticipated release now confirmed following a highly successful exclusivity period with Rush Street Interactive
Play’n GO has today announced the official US release of its hit title Colt Lightning Firestorm, following a three-week period of exclusivity with Rush Street Interactive brands BetRivers and SugarHouse.
Colt Lightning Firestorm was released in Europe and other jurisdictions in May 2024, and its release in the US comes with much fanfare following the game’s rave reviews in its short exclusivity period. The game is a sequel to the wildly popular Colt Lightning game which was released early last year, and indications at this stage suggest that this sequel may prove even more successful.
This announcement sees Colt Lightning Firestorm available to players in each state and operator with whom Play’n GO is licensed. Play’n GO first entered the online casino market in the US in 2022, and has reiterated its commitment to becoming active in every regulated market around the world.
Magnus Olsson, Chief Commercial Officer at Play’n GO said: “We’re excited to unveil Colt Lightning Firestorm to the wider online casino gaming community in the US, and have been very pleased to see its strong performance during its exclusivity period with Rush Street Interactive. We had high hopes for the game following the success of its predecessor, and we’re confident that these robust results will continue now that the game is available to an even bigger audience.”
Esports entertainment company BLAST has announced plans to host two popular esports events in Singapore in 2024 and 2025.
BLAST will bring both world-class Counter-Strike and Dota 2 tournaments to the heart of Southeast Asia, marking a major step in Singapore’s emergence as an esports and gaming hub. Supported by the Singapore Tourism Board (STB), these high-profile events will bring the world’s best esports teams and players from all across the world to compete in Singapore.
BLAST has teamed up with AEG Presents Asia, one of the world’s largest live entertainment entities to bring these events to Singapore. The partnership forms part of BLAST’s ambition to create the best esports experiences by working closely with premier destinations and the biggest and best live entertainment partners.
More than half of global esports views (57%) are estimated to come from the Asia Pacific region, 47% more than any other region in the world with the global market valued at $1.6 billion.
By bringing the top-tier Counter-Strike and Dota 2 tournaments to Singapore, BLAST aims
to attract global esports talent, foster local growth, and elevate Singapore’s status as a destination for world-class esports entertainment.
James Woollard, Director of Market Development at BLAST, said: “We are incredibly excited to bring two of the biggest esports titles to this vibrant destination. Over the coming 18 months, Singapore will become a major hub for esports in Southeast Asia, and with the support of the Singapore Tourism Board, we look forward to delivering unforgettable experiences for fans while helping to build a thriving esports ecosystem in the region. Bringing the first BLAST arena event to Singapore is an exciting first step in this journey. The World Final will see the world’s best Counter-Strike players and teams fighting for a $1,000,000 total prize pool.”
Ms Ong Ling Lee, Executive Director, Sports and Wellness, Singapore Tourism Board, said, “We are excited to host the BLAST Premier World Final and the BLAST Dota Slam in Singapore. The Counter-Strike event marks the first BLAST-branded event in Southeast Asia and the inaugural Counter-Strike tournament series in the region, solidifying Singapore’s position as a world-class esports destination. We are confident that the international participants and their legions of fans will have a memorable experience in Singapore, immersing themselves in the diverse and dynamic offerings of our city.”
The World Final 2024 will take place from 30th October – 3rd November and will be the first BLAST event to take place in Singapore, followed by the BLAST Dota Slam in 2025. The World Final will be the biggest Counter-Strike event to take place in Singapore, where the world’s best eight Counter-Strike teams will compete for a massive prize pool of $1,000,000 and the chance to claim bragging rights as the best team around.
Qualified World Final teams: NAVI, Team Spirit, Team Vitality, FaZe Clan and G2 Esports.
Fans can sign-up for the pre-sale window by registering with BLAST.tv, where they will also receive updates and information on tickets.
-
Africa5 days agoSouth Africa: Tribunal Grants Lottoland Interim Relief – Orders Google to Grant Lottoland Access to its Advertising Platform
-
Balkans5 days ago
CT Interactive Shortlisted in Two Categories at BEGE Awards 2024
-
21VIRAL5 days ago
21VIRAL Integrates Air Dice Group Games
-
Balkans5 days ago
NOVOMATIC Presents New Gaming Highlights at the BEGE
-
Latest News5 days ago
Stakelogic Wraps Up Deal with Bet25.dk
-
Chris Christie5 days ago
Chris Christie bets on Texas to approve OSB in 2025
-
Amusnet5 days ago
Amusnet Expands Latin American Presence Through Strategic Partnership with bet365 in Peru
-
Balkans4 days ago
Amusnet Powers BEGExpo’s 15th Edition with its Latest iGaming and Land-based Products
