Latest News
Kambi Group plc Q4 Report 2020

- Revenue amounted to €46.9 (Q4 2019: 26.7) million for the fourth quarter of 2020 and €117.7 (92.3) million for the period January to December 2020
- Operating profit (EBIT) for the fourth quarter of 2020 was €22.2 (6.2) million, at a margin of 47.3% (23.1%), and €32.2 (14.7) million for the period January to December, at a margin of 27.4% (16.0%)
- Profit after tax amounted to €17.3 (4.6) million for the fourth quarter of 2020 and €24.1 (10.4) million for the period January to December 2020
- Earnings per share for the fourth quarter of 2020 were €0.558 (0.152) and €0.781 (0.345) for the period January to December 2020
- Cash flow from operating and investing activities (excluding working capital movements) amounted to €20.5 (4.4) million for the fourth quarter of 2020 and €28.7 (8.6) million for the period January to December 2020
- The 2021 AGM will be held on 11 May. The Board proposes that no dividend is paid out.
Key highlights
- Posted record quarterly performance with revenue up 76% year-on-year and operator turnover rising 77%, driven by a busy sporting calendar, exceptional operator trading margin and growth in new markets
- Demonstrated scalability of the business model with operating margin of 47% compared with 23% in the corresponding quarter of 2019, and further strengthening of the net cash balance
- During the quarter, Kambi supported Rush Street Interactive and DraftKings with online launches into the US states of Iowa and Tennessee respectively
- Kambi agreed two new partnership agreements, signing with the Belgian National Lottery and JVH Gaming and Entertainment in the Netherlands
“As we reflect on what has been exceptionally challenging 12 months, it’s particularly pleasing to complete the year with a record Q4 performance and annual revenues up by 28%. At the start of 2020, full year revenue of €117.7m would have been deemed a great success, so to have delivered such a performance, in spite of the sporting calendar being severely impacted for the best part of four months, speaks volumes for the business we have created, our talented people and the upward trajectory we are on.
Kambi finished the year in fine fashion, with year-on-year Q4 revenue up by 76% to €46.9m and operator turnover rising 77% at an operator trading margin of 9.4%. The Kambi Operator Turnover Index came in at 989 which was a clear all-time high, while our business model illustrated the scalability it possesses with an operating margin of 47%.
The US continues to be a success story, with Q4 delivering expansion into Tennessee’s online market and three on-property launches across Michigan and Mississippi. Our US-facing partners are increasingly leveraging Kambi’s differentiation capabilities in areas including risk, pricing and front-end, to forge unique paths in their respective markets. With major states such as Texas and New York now looking closely at online sports betting, it’s clear Kambi’s US journey is in its early stages.
Our strong growth means Kambi is now operating at a scale like never before, which in turn allows the Kambi sportsbook and service to continuously evolve. The powerful partner network we have created, with fantastic partners from around the globe, produces ever increasing amounts of unique data, from which we can draw valuable insights to help us improve and continue to offer a high-performance sportsbook.
Over the past few months, and despite restrictions on travel, we have successfully grown the global network with four new partners. While the November signing of the Belgium National Lottery was addressed in our Q3 report, we closed out the year with the addition of JVH Gaming and Entertainment in December. JVH is the largest private casino group in the Netherlands, a country we expect to introduce a new regulatory framework later this year.
In recent weeks, we have signed partnership agreements with Racing and Wagering Western Australia and Argentinian casino operator Casino Magic and we look forward to launching with all our new partners in the coming months. While there is understandably great attention given to the promise of the US market, this quartet of partnerships, spread across three continents, underlines the exciting opportunities that lie in other corners of the world and cements Kambi’s position as the global market leader.
In summary, it’s been a year that’s shown that when working together, we can find the right responses to the toughest of challenges. The Kambi model is based on partnership, on sharing, on working together with our partners to ensure they have the best chance of success. The model was undoubtedly stress-tested in 2020 but it passed with flying colours, leaving me more excited than ever about Kambi’s future.”
Asia
Mayhem Studios announces its first Battle Royale title

“Underworld Gang Wars” or UGW, which revolves around the rivalry between two gangs, launched through India’s largest drone show designed for a game reveal
Mayhem Studios, India’s first studio for AAA games has announced its first title “Underworld Gang Wars” (UGW), a Battle Royale game set in India. With the characters and plot rooted in India, the game promises an exciting setting with some interesting characters inspired by stories of India.
Set in a truly Indian plot, the locations, the gangs and the icons represent an Indian context in a AAA game for the first time. The theme, weapons, and the maps of the game have been designed to offer a unique experience to the gamers.
The gameplay becomes intense in UGW as the underdog gang from the West wants to take control of the Eastern region from its arch-rival urban gang.
To provide an authentic experience, each region depicted in the game resembles a real location in India, be it the coal mines or the next-door apartment complex. It also has iconic landmarks including a fort, station, stadium and a racecourse.
Scheduled to be launched later this year, the game’s pre-registration window will open from 22nd May.
Commenting on the announcement, Ojas Vipat, CEO of Mayhem Studios, said: “We are thrilled to come up with the first Battle Royale Title that promises to offer one of the most relatable storylines for gamers. UGW’s unique locations and the highly relatable universe with great graphics are sure to provide a great experience for Battle Royale players. We are also excited to put together a blockbuster game with some unique stories of India for the world.”
Mayhem Studios has conducted India’s biggest game reveal through a drone show at Mumbai’s Mahalaxmi Racecourse. Through this drone show, the studio revealed the game logo and also created a QR code that directed the onlookers to the game teaser.
The event was also attended by leading gaming influencers and enthusiasts like Tanmay Bhat, Mortal, Scout and Dynamo Gaming.
Compliance Updates
YGAM announced as the official charity partner for the VIXIO GamblingCompliance Global Regulatory Awards 2022

VIXIO GamblingCompliance is delighted to announce that the Young Gamers and Gamblers Education Trust (YGAM) will once again be the official charity partner for the VIXIO GamblingCompliance Global Regulatory Awards.
YGAM, which acted as the official charity partner for the 2020 and 2021 Global Regulatory Awards, is a national charity with a social purpose to inform, educate and safeguard young and vulnerable people against gambling and gaming harms. In recent years, YGAM has established itself as one of the leading charities delivering education programmes to help prevent harm and safeguard future generations.
Daniel Bliss, Director of External Affairs, YGAM, said: “We’re delighted to have been chosen by VIXIO to be the official charity partner to these awards for a third year. It provides us with a valuable platform to raise awareness of the work we do to achieve our social purpose. We’re looking forward to the event and the opportunity to network with a wide range of stakeholders.”
Since their launch in 2017, the independently adjudicated Global Regulatory Awards have become the biggest of their kind, recognising and celebrating those who demonstrate excellence in responsible gambling, and are growing in importance as the industry moves towards a stronger culture of compliance. Winning a prestigious award is a sign of excellence and can enhance your reputation as a leader in the field of compliance and safer gambling.
Nominations for the Global Regulatory Awards officially close on June 30, 2022. Submitting a nomination is free, quick and easier than ever before and is open to industry newcomers and veterans alike.
This year’s VIXIO GamblingCompliance Global Regulatory Awards ceremony will be held on November 30, 2022, and we will be returning to the prestigious De Vere Grand Connaught Rooms in Central London, the site of the 2021 ceremony where more than 250 senior industry professionals joined VIXIO to celebrate the achievements of that year’s star-studded class of winners.
Latest News
3 Oaks Gaming strikes Big Time Gaming partnership to acquire Megaways™ licence

Games utilising iconic mechanic to enhance distributor’s slots portfolio
3 Oaks Gaming, the fast-growing distributor of iGaming content, has secured a partnership with innovative game designer Big Time Gaming (BTG), which will see the legendary Megaways™ mechanic included within its own slots portfolio.
Megaways™ transformed the slots landscape when it was first introduced by BTG, with the revolutionary mechanic providing players with 117,649 ways to win as they spin the reels. It remains at the height of popularity today, with many operators adopting their own dedicated subpages for games using the mechanic.
The inclusion of Megaways™ into future 3 Oaks-developed titles will bolster the iGaming distributor’s ability to widen their reach to operators worldwide, with these types of games proven to resonate with a large audience.
This new partnership strengthens an already bright future for 3 Oaks Gaming, which launched in January 2022. Primarily an iGaming distributor of content to regulated markets, the Isle of Man licensed company recently acquired the assets of a number of global slot developers and will continue to expand its existing games offering over the coming months.
Sebastian Damian, Managing Director of 3 Oaks Gaming, said: “We are very pleased to have partnered with the innovative games developer Big Time Gaming and secured the rights to utilise the hugely successful Megaways™.
“The mechanic’s popularity shows no signs of slowing down and continues to be in demand from players across various jurisdictions. The addition of Megaways™ will propel our offering to a new level and ensure 3 Oaks Gaming becomes an important source of content for operators across regulated markets.”
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