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Kambi Group plc Q2 2025 Report

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“Q2 2025 proved to be a quarter that reflected both the resilience of our business and the evolving dynamics of our industry” says Werner Becher, CEO of Kambi Group

Financial highlights

  • Revenue in the second quarter totalled €40.5m (45.7m), a decrease of 11.5%. Excluding the €4.5m of transition fees received in Q2 2024, revenues decreased by 2.0%. For the first half of 2025 revenues were €81.9m (88.9m), a decrease of 7.9%. Excluding €8.9m of transition fees received in H1 2024, revenues increased by 2.3%.
  • Adjusted EBITA (acq) in the quarter was €3.7m (7.5m), at a margin of 9.2% (16.4%). For the first half of 2025, adjusted EBITA (acq) was €6.0m (13.3m), at a margin of 7.4% (14.9%), and €7.2m (13.3m) excluding the impact of FX revaluations, almost entirely from the first quarter 2025.
  • Total expenses were €38.1m (39.6m) in the quarter, a decrease of 3.8%. For the first half of 2025, total expenses were €78.6m (78.4m) including an FX revaluation loss of €1.2m (0.01m).
  • Operating profit was €1.6m (6.2m), at a margin of 4.0% (13.5%) for the second quarter and €2.4m (10.6m), at a margin of 2.9% (11.9%) for the first half of 2025.
  • Cash flow (excluding working capital and M&A) amounted to €1.3m (8.1m) for the quarter and €9.0m (13.5m) for the first half of 2025.
  • Earnings per share for the second quarter of 2025 were €0.009 (0.155) and €0.036 (0.260) for the first half of 2025.

Key operational highlights

  • Agreed two-year Turnkey Sportsbook extension and new Odds Feed+ agreement with LeoVegas Group.
  • Signed Turnkey Sportsbook partnership with RedCap in Latin America, continuing Kambi’s expansion in the region.
  • Following Kambi’s EGM, the Board initiated two consecutive share buyback programmes with a total value of SEK 165m (€15m) which will run until 21 November 2025. This is Kambi’s largest share buyback to date.

CEO comment
“Q2 2025 proved to be a quarter that reflected both the resilience of our business and the evolving dynamics of our industry. While results were in line with our expectations, they came against a backdrop of challenging market conditions and tough comparisons with Q2 2024.

Last year’s quarter benefited from the uplift of the Euros and Copa América and included the last full quarter of transition fees from Penn Entertainment. Meanwhile, challenging dynamics include foreign exchange movements and regulatory and tax headwinds, such as deposit limits in the Netherlands and Colombia’s VAT, which continue to affect performance.

Operator trading margin was 11.5% for the quarter, above our long-term expected range of 9.5–11.0%, as we continued to see strong engagement with our market-leading Bet Builder, which is a higher margin, lower staking product. Despite these impacts, Q2 was a period of solid operational progress across various areas of the business. Additionally, the continuation of our 2025 efficiency programme can now start to be seen in our cost base and will continue to drive increased leverage throughout the year.

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From a commercial perspective, we were delighted to extend our partnership with LeoVegas Group through a new two-year Turnkey Sportsbook agreement. We also expanded this relationship through an Odds Feed+ deal, with LeoVegas becoming our fourth partner since launching the product in Q3 2024. While Turnkey partner churn is an inevitable part of the business, it is encouraging to see our product portfolio evolving in ways that now enable us to retain partners through our more extensive product offering.

We continue to diversify our revenue base, illustrated not only by the Odds Feed+ deal but the recent Turnkey Sportsbook signing of RedCap in Latin America, expanding our reach in the region. RedCap will initially launch its Betpro and Starplay brands online in Panama and El Salvador, with scope to expand into retail and additional markets in the future. RedCap will be transitioning from a competing supplier, underlining our position as the home of premium sports betting solutions.

Our esports betting product, powered by our Abios division, is also becoming an increasingly important part of our product offering. Esports via the Turnkey continues to grow in popularity and in Q2 was the fifth largest ‘sport’ across the global network based on turnover. We believe we have a leading esports product, one that’s not only proving its worth on the Turnkey but is fast becoming a unique selling point for our Odds Feed+ product, with few operators possessing this capability in-house.

While the first half of the year played out broadly as expected, I want to reiterate that I am not satisfied with where we are at today, with my ambition for the business being far greater. Looking ahead to the rest of the year, the external environment will continue to pose challenges, but I remain optimistic that we can increasingly deliver value for our partners, expand our partner network, strengthen our product portfolio and position the business for long-term, sustainable growth.”

Invitation to presentation of the report
Kambi invites analysts, investors, and media to a presentation of the report at 10.00 CEST on Wednesday 23 July.
The presentation will be held in English by Kambi’s CEO Werner Becher and CFO David Kenyon and can be accessed using the links below. After the presentation there will be the opportunity to ask questions.

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Bety Casino Launches New Premium Platform with Trusted Licensing, Instant Crypto Withdrawals, and Elite Gaming

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Bety Casino, owned and operated by Platinum Technology NV, officially launches its new crypto gambling platform Bety.com. It is offering players 10,000+ titles, several unique in-house games, and instant withdrawals via cryptocurrencies. The platform also operates under the license and regulation of the Curacao Gaming Control Board (GCB) to ensure players globally enjoy gambling in a secure and fair environment.

The majority of the game titles provided by Bety Casino are sourced from leading suppliers like Pragmatic Play, BGaming, Red Tiger, and Microgaming. With so much focus on responsible gaming, security, player entertainment, and satisfaction, Bety aims to redefine the online crypto gaming industry.

‘’Our vision for Bety Casino was basically to develop a crypto casino where every gamer or bettor feels safe, entertained, and fully in control of their funds.’’. Said a Bety chief executive Durrant Nagra. ‘’Our partnership with reliable software providers is really an assurance of an elite gaming experience. With over 10,000+ titles in our library that include online slots, table games, live dealers, and in-house games, every gamer will enjoy our selection.

‘’At Bety, we believe in creating a safe and enjoyable environment for all our players. We highly promote responsible gaming practices by offering features and/or tools that will help our gamers stay in control. Some of our responsible gambling resources include self-exclusion and setting deposit limits. Besides, our support team is well-trained to assist any player who might need help managing their gaming habits.’’ He added.

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Both casual and high rollers can potentially enjoy one of the most competitive welcome bonuses of 280% up to €12,000 (or equivalent value in crypto) plus 150 free spins upon signing. Gamers can also enjoy regular promotions, tournaments, and lotteries. The platform also processes payout requests instantly via more than 10 popular cryptocurrencies like BTC, ETH, LTC, DOGE, USDT, and BNB.

‘’From the time players register to the moment they want to withdraw their winnings, we have ensured that every step is simple, fast, and rewarding.’’ Continued Bety chief executive, Durrant Nagra. ‘’The overwhelmingly positive feedback from our members is a clear indication that crypto gambling can be a truly premium experience.’’ Bety team.

Bety Casino has set out to be a game changer amongst other crypto casinos, a platform with exceptional value for users and players. From its notable features like its no KYC policy and fast transactions to its curated premium game library and rewarding bonus system, Bety delivers on key expectations for today’s crypto gamblers, combining variety, speed, and security in one platform.

In addition to its active customer support, advanced security features, and transparent operations, Bety is steadily positioning itself as the platform of choice for discerning players in 2025 and beyond.

About Bety Casino

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Bety is a globally leading cryptocurrency gaming and betting platform offering an elite casino and sports betting experience. The platform leverages blockchain technology to ensure transparent, secure, and efficient transactions. Supporting 10+ cryptocurrencies, Bety allows players to make instant transactions with no hidden fees or delays.

Users can follow Bety platforms to stay tuned:

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Instagram: @betyofficial88

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Integrated Resorts’ 1H GGR hits Php93.36-B GGR, PAGCOR says

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The country’s integrated resort casinos generated Php93.36 billion in gross gaming revenues (GGR) in the first half of 2025 to sustain the momentum of the local tourism and gaming sectors, according to the Philippine Amusement and Gaming Corporation (PAGCOR).

In his welcome address at the Philippine Hotel Connect 2025 on Thursday, July 24, PAGCOR Chairman and CEO Alejandro H. Tengco said the country’s IR casinos accounted for nearly half of the local gaming industry’s total GGR of Php215 billion from January to June this year.

“Of the Php93.36 billion generated by the integrated resort casinos, Php16 billion was paid to PAGCOR as license fees, ensuring funding for government social services and driving the country’s economic growth,” Chairman Tengco said.

The PAGCOR chief noted that aside from contributing to government revenues, integrated resort casinos also helped position the Philippines as a competitive tourism destination.

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“We have seen time and again how a thriving hospitality sector can drive employment, fuel trade, revive local enterprises, and bridge communities,” he said. “And nowhere is this more evident than in the huge tourism contributions from our licensed integrated resort casinos within and outside Metro Manila.”

Aside from paying billions in license fees, the country’s integrated resort casinos also provide significant funding support to key government institutions – including the health, education, and military sectors – through their cultural foundations.

“Their contributions are concrete examples of how tourism, hospitality, and gaming – when aligned and responsibly managed – become a catalyst for national resilience and progress.”

But alongside the gaming industry’s strong performance, Mr. Tengco emphasized the need to safeguard its growth through effective regulation and responsible gaming practices.

He underscored PAGCOR’s recent move to remove gambling advertisements from areas frequented by minors and its memorandum of understanding with the Ad Standards Council to implement stricter gaming advertising guidelines.

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“As the gaming industry expands, so must our safeguards,” he said. “Hence, we have taken a firm stance against the proliferation of illegal and unregulated gaming operations that offer no safety nets or protection to players and, more importantly, no remittance or any form of revenue to the government.”

Mr. Tengco called for continued collaboration between government and the private sector to maintain the momentum of tourism recovery and long-term economic gains.

“The success of Philippine tourism is a shared journey between regulators and investors, between public ambition and private innovation,” he said. “PAGCOR will continue to walk side by side with our partners in building a globally competitive yet distinctly Filipino tourism and gaming industries.”

Organized by the Philippine Hotel Owners Association, the Philippine Hotel Connect 2025 gathered tourism and hospitality leaders to foster collaboration, discuss global and regional tourism insights and opportunities, emerging trends, among others.

The post Integrated Resorts’ 1H GGR hits Php93.36-B GGR, PAGCOR says appeared first on European Gaming Industry News.

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MightyTips teams up with HeyBaji to elevate the game

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MightyTips has joined forces with fast-growing online platform HeyBaji to increase user engagement, drive qualified traffic, and enhance visibility for both parties.

Eugene Ravdin, Head of PR at SEOBROTHERS, said: “Partnering with HeyBaji reflects MightyTips’ ongoing commitment to connect players with trusted, high-quality gaming platforms. We’re excited to support their growth through our collaboration.”

HeyBaji offers high-quality sports betting and live casino action, featuring games such as Baccarat, Roulette, Andar Bahar, Fan Tan, Sic Bo, and Dragon Tiger, hosted by live dealers.

Under the management of VB Digital N.V., and regulated by the Curacao Gaming Commission, HeyBaji operates with the highest standards of integrity, data security, and responsible gaming. The platform is supported by a dedicated 24/7 customer service.

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Masum, Marketing Executive at HeyBaji, said: “Working with MightyTips has been a rewarding experience for HeyBaji. Their team consistently demonstrates professionalism, transparency, and a deep understanding of affiliate marketing. They’ve helped amplify HeyBaji’s presence by driving quality traffic and delivering players who truly engage with our platform.

MightyTips doesn’t just promote, they partner with purpose. Their commitment to performance and long-term growth aligns perfectly with HeyBaji’s mission to deliver top-tier gaming experiences. We look forward to scaling new heights together.”

This cooperation will further strengthen HeyBaji’s brand visibility across key markets while also enhancing the MightyTips network with another reputable operator.

The post MightyTips teams up with HeyBaji to elevate the game appeared first on European Gaming Industry News.

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