Latest News
Kambi Group plc Q1 Report 2021
Financial summary
- Revenue amounted to €43.2 (Q1 2020: 27.9) million for the first quarter of 2021, an increase of 55%
- Operating profit (EBIT) for the first quarter of 2021 was €18.7 (6.8) million, an increase of 173%, at a margin of 43.2% (24.5%)
- Profit after tax amounted to €15.1 (4.8) million for the first quarter of 2021
- Earnings per share for the first quarter of 2021 were €0.487 (0.156)
- Cash flow from operating and investing activities (excluding working capital movements) amounted to €16.5 (4.1) million for the first quarter of 2021
Key highlights
- Operator turnover index exceeded 1,000 mark for first time, equating to a x10 growth since Kambi’s first quarter post-listing in 2014
- Strong revenue growth of 55% year-on-year at an operator trading margin of 8.5%
- Continued US expansion with launches across a number of jurisdictions including Michigan, Illinois, Virginia and Arkansas – the latter became the 14th state in which Kambi provides regulated sports betting
- Strengthened global network through new partnerships with Racing & Wagering Western Australia and Casino Magic, extended partnership with Napoleon Sports & Casino
“I’m pleased to report the exceptional performance we produced during the latter part of last year has continued into 2021, with significant growth across a range of KPIs including operator turnover, revenue and operating margin. We also continued our impressive commercial momentum with new partner signings and extensions in key target markets. The operator turnover index surpassed 1,000 for the first time after a record quarter which saw operator turnover more than double year-on-year, with the caveat of the final fortnight of Q1 2020 impacted by COVID-19. This strong performance was driven by a busy sporting calendar, including the end of the NFL season and the March Madness college basketball tournament, and more than compensated for the planned migration of a large proportion of 888’s business off the Kambi sportsbook in January.
Revenue growth was also exceptionally strong at 55%, with operator trading margin of 8.5% for the quarter. The business was once again able to demonstrate its scalability with an operating margin of 43%, which was particularly pleasing to see in a quarter played out in an environment more reflective of the pre-pandemic landscape, as we transition back to something more akin to normality.
From a commercial perspective, and as detailed in our previous report, we signed new partnerships with Racing & Wagering Western Australia (RWWA) and Casino Magic. Within weeks of signing with Casino Magic, our sportsbook was live in Neuquén, Argentina, strengthening our position in the promising South American market, while we continue to work with RWWA on the transition of its existing business to Kambi from its current provider. In addition to signing two new partners, it was great to strengthen our partnership with Napoleon Sports & Casino, and we look forward to building further on this long-term relationship in the years to come.
As ever, the quarter saw Kambi continue to support the expansion of partners across the globe, averaging a partner launch every week throughout the reporting period. In addition to the launch of Casino Magic, we supported US-facing partners in states including Michigan, Virginia, Illinois and Arkansas, with the latter becoming the 14th state in which Kambi is live and generating revenue. Although I’ve said it before, it’s worth repeating our market-leading excellence and reliability in the areas of integrations and launches, often working closely with regulators to ensure our partners are first or among the first to go live.
Regulation in the US continues to move at pace, with progress seen in a variety of states in recent weeks and months, perhaps most notably in New York, where the state has committed to adding online sports betting to its existing retail market. As the first company to process a regulated sports bet in New York, we’re of course monitoring the developing situation there closely and look forward to the publication of further details concerning the licensing framework in due course.
In the meantime, our teams are busy preparing for what will be a special summer of sports, with major events such as the delayed Euro 2020, Copa America and Olympic Games, as well as the return of annual summer tournaments including Wimbledon and The Open. In addition, this year should see a full MLB season played out, with a high volume of games to be played throughout the summer months. As always, our partners will have a first class offering across all sports and competitions, and as sports fans we have a lot to look forward to.”
Asia
Goa Introduces an Entirely Online Lottery Platform
In a move towards modernising India’s lottery sector, the state of Goa has introduced an entirely online lottery platform, sanctioned by the Directorate of Small Savings and Lotteries. This initiative, known as Great Goa Games, aims to bring transparency and convenience to an industry that has long grappled with allegations of mismanagement and fraud.
Ticket sales commenced Monday, with the inaugural draw set for Sunday. Rhiti Group, led by founder Arun Pandey, was granted the license to operate and market the platform. “Our mission is to democratize opportunities through technology,” Pandey stated, emphasizing the secure and user-friendly nature of the app-based system.
Goa government official Narayan Gad lauded the move as a step forward for the Indian lottery sector. “With our online lottery streamlining processes through technology, we are setting a new standard in the lottery industry,” Gad remarked. “The technology-based product will enhance transparency and ensure improved monitoring and regulation of operations.”
This development follows new rules governing online lotteries, introduced by the Goa directorate in February 2023. Currently, 13 states in India, including Goa, allow lottery games, though others have banned them due to concerns over gambling addiction and operational irregularities.
Latest News
Catena Media Announces Board Changes
Catena Media’s board of directors announced the appointment of Stephen Taylor-Matthews as non-executive director and the departure of Øystein Engebretsen from the board of directors.
Based in London, Stephen Taylor-Matthews is a tech entrepreneur, executive advisor and investor with over two decades of experience in online gaming, sports betting and data analytics.
He is the founder of Polynate, an AI-first company delivering next-generation sports engagement solutions, and has worked at Underdog Fantasy, GoatGaming and Betgenius in previous roles.
Stephen Taylor-Matthews commented: “Catena Media is in a transformation phase and I’m excited to be joining the board at this juncture and to contributing my industry expertise and insight.”
The appointment coincides with the departure from the board of Øystein Engebretsen, who has served as non-executive director since September 2018.
Erik Flinck, Chairman of the Board of Directors, said: “Øystein has made a valuable and important contribution to Catena Media for more than six years. I warmly thank him for his efforts and wish him well in his current and future ventures. At the same time, I am delighted to welcome Stephen Taylor-Matthews to the board. His experience and expertise will be a valuable asset for Catena Media as we move forward.”
Stephen Taylor-Matthews’ appointment will become effective once all necessary filings are made with the Malta Business Registry, and his term will run up until the end of the next annual general meeting, in accordance with the Maltese Companies Act and Catena Media’s articles of association.
Latest News
Endorphina Partners with R. Franco Digital to Expand Reach
The leading online slot games provider, Endorphina, has announced a brand-new partnership with R. Franco Digital, a renowned manufacturer of AWP machines. This collaboration allows Endorphina to expand its reach in the Spanish and Latin American markets.
Endorphina is one of the top iGaming software providers for the B2B market, developing online slots that cater to a wide range of slot enthusiasts. Over the years, the provider has established itself as one of the most innovative slot suppliers in the industry, dedicated to expanding its products to players worldwide.
Zdenek Llosa, Senior Partnership Manager at Endorphina, said: “We are genuinely excited to join forces with R. Franco Digital, a trusted name with a rich legacy in the Spanish and Latin American gaming world. Partnering with a platform that shares our passion for quality and player satisfaction is truly inspiring. Together with the R. Franco team, we look forward to creating memorable, fun experiences that bring joy and excitement to our shared communities across Spain and LATAM. This collaboration feels like the beginning of something truly special.”
Franco Digital, a subsidiary of the Recreativos Franco Group, has been known for providing its customers with the best turnkey solutions for over 50 years. As a pioneering manufacturer of AWP machines, R. Franco Digital is founded on an innovative company culture that uses the best methodologies and technologies available, working with talented and disruptive people to deliver the best solutions.
“At R. Franco Digital, we are always striving to enhance our platform with innovative, top-quality content that resonates with our audiences, particularly in Spain and Latin America. Partnering with Endorphina allows us to bring a fresh, engaging catalog of games to our players, combining our platform’s power with Endorphina’s creativity and expertise. This collaboration underscores our commitment to delivering premium gaming experiences tailored for Spanish-speaking markets,” said Javier Sacristán, International Business Director of R. Franco Digital.
-
Latest News2 days ago
Make every pixel personal: Opera GX facelift lets you match your browser to your setup down to the smallest detail
-
Latest News2 days ago
Casino Management System Market to Reach USD 29.09 Billion by 2032 | Enhanced Security and Operational Efficiency Drive Growth | Research by S&S Insider
-
Balkans7 days ago
EGT Digital’s iGaming platform X-Nave and successful titles to deliver high-quality experience to BetHub’s customers
-
Latest News7 days ago
AGREEMENT BETWEEN ZITRO AND GRUPO OSGA TO PROMOTE THE LABOT INTEGRATION OF PEOPLE WITH DISABILITIES
-
Latest News7 days ago
Week 46/2024 slot games releases
-
Latest News2 days ago
Fast Track Celebrates Third Year as a Great Place to Work Certified™ Tech Company
-
Latest News7 days ago
Exploring the Strategic Benefits of Cashback Programs with Bojoko CEO Joonas Karhu
-
Africa4 days ago
South Africa: Tribunal Grants Lottoland Interim Relief – Orders Google to Grant Lottoland Access to its Advertising Platform