Financial summary

• Revenue amounted to €43.2 (Q1 2023: 44.0) million for the first quarter of 2024

• Operating profit (EBIT) for the first quarter of 2024 was €4.4 (4.5) million, at a margin of 10.2% (10.3%)

• EBITA (acq)* for the first quarter of 2024 was 5.8 (5.8) million, at a margin of 13.3% (13.1%)

• Cash flow (excluding working capital and M&A) amounted to €5.4 (3.2) million for the first quarter of 2024

• Earnings per share for the first quarter of 2024 were €0.107 (0.107)

• The 2024 AGM will be held on 21 May 2024. The Board proposes that no dividend is paid out.

*EBITA (acq) = Earnings before interest, taxation and amortisation on acquired intangible assets

Key highlights

• AI trading division Tzeract to provide European operator kwiff with its market-leading Bet Builder product in first commercial partnership

• Extended retail sportsbook partnership with Penn Entertainment until 31 December 2025, replacing previous agreement which was set to end July 2024

• Launched LiveScore Group’s Kambi-powered sportsbook in Nigeria, followed by a launch in the Netherlands after quarter end ahead of a wider rollout before Euro 2024

• Continued development of open platform and trading gateway with integration of Inspired Entertainment’s virtual sports offering and preparation of external odds feeds provision

• Completed the third share buyback programme and announced a further share buyback programme running from 18 March to 20 May, up to a total of €4.0 million

• In January, Kambi’s CEO and Co-founder Kristian Nylén notified the Board of his intention to step down from his current position once a successor is in place

CEO comment

“For the first quarter of the year we posted revenue of €43.2 million, which was in line with our expectations, while expenses were at the lower end of our guidance at €39.0 million.

A key highlight of the quarter was the launch of LiveScore Group’s new Kambi-powered sportsbook in Nigeria, followed swiftly by a launch in the Netherlands. LiveScore was a pivotal signing for Kambi in 2023 and these launches mark crucial milestones toward our long-term objectives. We look forward to additional launches in the near future, including in its core UK market, ahead of a busy summer of sports with Euro 2024 and Copa América both set to commence in June.

The important signing of LiveScore, as well as other key 2023 partner signings, were partly dependent on us delivering on certain product requirements. As part of these product deliveries, we have been integrating external content into the Kambi platform, enabling operators to enhance their offerings and deliver even greater product differentiation. In Q1, for example, we integrated virtual sports, an important and complementary vertical to sports betting, while more recently we enlisted a third party to strengthen our horse racing product. With these deliveries we strengthen our flexible and high quality solution for partners.

Having made great strides on opening up our platform to deliver on these partner requirements, we are now picking up the pace with modularisation. This sharpened focus means we are preparing to provide modular Kambi odds feeds to those operating on their own technology and outside of our network. This means operators can, via a single API integration, access our full suite of sports odds, including those powered by Tzeract and Abios, enabling them to select their desired mix of sports, events and product types from a single source. Our market research shows demand for such a flexible and powerful solution, with operators today having to integrate with multiple suppliers with varying degrees of quality.

As part of our ongoing modularisation strategy, yesterday we announced Tzeract’s first commercial agreement since launching as a standalone division. Partnering with kwiff to provide its leading Bet Builder product will enable Tzeract to demonstrate the quality of its product via an operator outside of the Kambi network for the first time, an important milestone in the division’s progress.

In summary, we have continued to build solid foundations for the future. Our commitment to pushing the boundaries of product excellence and innovation, as highlighted by the development of our modular odds feeds, is positioning Kambi as a leader in shaping the future of sports betting technology.”

You are invited to participate in a web presentation at 10.45 CEST with Kambi Group plc’s CEO Kristian Nylén and CFO David Kenyon. The presentation will be held in English and can be accessed using the link below. After the presentation there will be the opportunity to ask questions.

Raptor PR, the specialist tech PR agency for the global video games industry, has appointed MCV/DEVELOP 30 Under 30 2023 winning PR and communications professional James Law as PR Director. James will play an instrumental role in the establishment of Raptor PR’s new consumer gaming PR division, and will be leading on key B2B accounts at the agency.

Since early 2021, Raptor PR has carved out a unique reputation as the world’s only specialist B2B tech PR agency for the global games industry. James’ appointment will see the agency expand its B2B offering with a fully integrated B2C PR service for ambitious game development studios and publishers from the worlds of mobile, PC and console gaming.

James was previously PR Manager at Heaven Media, a leading creative marketing agency specialising in the gaming and technology industries. His experience includes global brands such as Nexon, Fanatec, and PowerA, as well as indie darlings like OutOfTheBit, Wales Interactive, and Utomik. Prior to Heaven Media, James was an experienced consumer games industry journalist, having written for leading gaming outlets such as Eurogamer, NME, Rock Paper Shotgun, and PC Gamer. He has also been Managing Editor at Gfinity Esports.

Rana Rahman, Founder and CEO at Raptor PR, commented: “We’re beyond excited to have James come on board to help shape the next evolution of Raptor PR. We’ve spent the last three and a half years establishing ourselves as the leading B2B tech PR agency for the global games industry, with flagship clients such as The Games Fund, Sandsoft, Midjiwan, Stardust, and Metaplay. We implicitly understand the complexities of the businesses and technologies that are powering the games industry, hence it is a natural progression for team Raptor PR to voyage into the world of consumer gaming PR, immediately supporting our existing portfolio with consumer gaming consultancy and tactical execution.”

James Law, PR Director at Raptor PR, commented: “Raptor PR is in such an exciting place with the agency’s fantastic success and strength in the B2B gaming and tech sectors. The opportunity to lead the agency’s nascent consumer gaming division is one I couldn’t resist – I love the games industry and the people in it, and the Raptor team is one that shares my passion for gaming and drive to make the industry a better place. I can’t wait to get stuck in – meeting the brilliant Raptor team and working alongside them has already been a fascinating learning experience, and it’s been a treat to be able to contribute and deliver my own unique perspectives. Here’s to a successful new partnership!”

James’ work demonstrates a passion for the games industry community, and a desire to make it a better place. As co-founder of startmenu, a website and community dedicated to bringing new and upcoming writing talent together within the games industry, James has helped build bridges into the industry that previously didn’t exist. At Raptor PR, James will be supported in his voluntary roles, as an ambassador for Safe In Our World, the video games industry mental health charity, and as a mentor in the 2024 Limit Break mentorship scheme.

Soft2Bet, a leading provider of technical solutions for online betting, announces the launch of CampoBet in Denmark for mobile and desktop users. Already an industry award-winning brand, CampoBet is now available under the name CampoBet.dk for Danish users, offering them a comprehensive betting experience across 30 different sports.

The CampoBet brand provides some of the best odds in the market on more than ten million sporting events per year and with a full range of pre-match and live betting options. In addition to its sportsbook offering, CampoBet also offers more than 3,000 casino games to its players including the best live casino products complete with high-quality production values and top-level professional dealers.

CampoBet.dk players will also have access to Soft2Bet’s award-winning Motivational Engineering Gaming Application (MEGA), the best gamification platform in iGaming, and will be able to take part in weekly challenges and rewards to enhance their playing experience with intelligent and engaging content.

All this is available through CampoBet.dk’s easy-to-navigate UI, providing a quality experience for players that is focused on simplicity and seamless payments for both new and experienced bettors.

“CampoBet.dk is an innovative online platform that offers a comprehensive betting experience and we are delighted to introduce it to our Danish customers,” the Chief Product Officer for Soft2Bet, Yoel Zuckerberg, said. “The user interface is fast, simple and flexible so that players can access their favourite betting markets and casino products with ease and make CampoBet.dk a firm favourite among iGaming enthusiasts in Denmark.”

CampoBet is already active in Malta and Sweden with CampoBet. com and CampoBet.se respectively and the launch of CampoBet.dk marks a significant milestone in Soft2Bet’s expansion into Denmark and the Nordics region in general. Both Soft2Bet and CampoBet have been shortlisted for prestigious industry awards in recent years and this year Soft2Bet’s gamification platform MEGA won the award for In-House Innovation of the Year at the EGR Nordics Awards.

CampoBet’s mobile app will also shortly be available to Danish Android and iOS users. For more information, please visit www. CampoBet.dk.