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Kambi Group plc Q4 Report 2021

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Notice of Kambi Group Plc Extraordinary General Meeting 2023
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Financial summary

  • Revenue amounted to €34.9 (Q4 2020: 46.9) million for the fourth quarter of 2021, a decrease of 26%, and €162.4 (2020: 117.7) million for the period January to December, an increase of 38%
  • Operating profit (EBIT) for the fourth quarter of 2021 was €7.1 (22.2) million, at a margin of 20.2% (47.3%), and €57.0 (32.2) million, at a margin of 35.1% (27.4%) for the period January to December 2021
  • Profit after tax amounted to €6.1 (17.3) million for the fourth quarter of 2021 and €46.4 (24.1) million for the period January to December 2021
  • Earnings per share for the fourth quarter of 2021 were €0.198 (0.558) and €1.501 (0.781) for the period January to December 2021
  • Cash flow from operating and investing activities (excluding working capital movements and acquisitions) amounted to €4.8 (20.5) million for the fourth quarter of 2021 and €44.6 (28.7) million for the period January to December 2021
  • The 2022 AGM will be held on 17 May 2022. The Board proposes that no dividend is paid out.

Key highlights

  • Robust financial performance driven by market expansion and strong underlying network growth. When adjusting for the migration of 888 and DraftKings, and the impact from regulation in the Netherlands, operator turnover was up 38%
  • Received a mobile platform licence in New York, the most populous US state to regulate online sports betting thus far, and subsequently went live in Q1 2022
  • Expanded US partner network with the signings of omni-channel operator Affinity Interactive and tribal operators Desert Diamond Casinos and Saginaw Chippewa Gaming Enterprises
  • Completed 38 launches, including three additional US states – Connecticut, Louisiana and Maryland – and with new partners in Australia, the Bahamas and the Netherlands
  • Following close of quarter, extended long-term partnership with Kindred Group until 2026 and have ability to repay convertible bond held by Kindred

“The momentum we built in Q3 continued into Q4, helping us finish the year in fine fashion. This positivity has continued into the new year, most notably having recently extended our partnership with Kindred Group, which now runs for the next five years up until the end of 2026, providing us with additional financial strength. Separately, we also have the ability to repay the convertible bond held by Kindred, which when paid at a time of our discretion will provide us with complete freedom to make the right strategic decisions for Kambi’s future, which has never looked brighter.

Looking back at Q4, growth from the Americas continued to be a key driver of our performance. The Americas region was responsible for 58% of operator GGR and is set to increase further with additional markets to regulate and go live this year across Canada, the US, and South America.

One of the key quarterly highlights was the receipt of our licence in New York State, which since launching a few weeks ago has quickly grown to become the largest market in the country. Not only did Kambi secure one of the few licences on offer in New York, the bid we led as a primary applicant also achieved the highest score from the regulator following a competitive application process. Such an achievement is a real testament to Kambi’s reputation in the US and the quality, integrity, and reliability of our sports betting technology.

We signed three new partners in the US during Q4, including a multi-state partnership with US omni-channel operator Affinity Interactive, which operates casinos in three states and the Daily Racing Form, an iconic horse racing news brand. We followed these signings up after the quarter with a multi-state deal with MaximBet and a partnership in Canada with NorthStar Gaming, which is partnered with Torstar Corporation, one of the country’s largest news organisations.

In addition to North America, we made significant progress in Argentina, going live in both Buenos Aires City and Buenos Aires Province, while we also launched new partners in Australia and the Bahamas. Furthermore, in Europe we launched BetCity and JVH in the re-regulated Netherlands market and have been buoyed by the early performance. We are excited by prospects in the Netherlands, particularly once additional partners are awarded their licence in the coming months.

In summary, Q4 concluded a transformative year for Kambi and as we move into 2022, I am confident the business has never been better positioned for the future. The prospect of further regulation and additional partner signings across the globe is positive and we are firmly established as the go-to provider for the global sports betting market. I look forward to building on our successes this year and beyond to the benefit of both our partners and shareholders alike.”

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Bombay Live Sets the Pace with Latest Release Speed Dragon Tiger

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Two unique side bets enhance popular Asian table game

Live casino brand Bombay Live invites players to experience fast-paced thrills with Speed Dragon Tiger, the latest addition to its luxurious live casino portfolio.

Side bets are central to the action when searching for the biggest wins, with players encouraged to not hang around as the quick-fire rounds and sleek animations add a new dimension to the popular Asian table game.

Gameplay is easy to follow as players determine whether the card drawn will be a dragon or a tiger. Cards are immediately dealt as the camera toggles to top view while the dealer reveals the winning card for added immersion.

As soon as cards are discarded, the dealer jumps straight back into the action in this hyper-fast game show.

The game’s two side bets, Lucky Paws & Lucky Claws and Mystic 5 provide even higher potential pay-outs.

Throughout random rounds, Lucky Paws & Lucky Claws will activate a multiplier on either side or both sides of the table, revealing potential awards of up to 1,000x the bet, while Mystic 5 is totally unique to Bombay Live, offering multipliers of up to 888x with the player predicting the result over the next five rounds.

“We are excited to introduce Speed Dragon Tiger to our content offering, joining the likes of Roulette, Blackjack and Baccarat as one of our premium live casino products,” the Head of Live Studios and RNG Games for Bombay Live, James Corrie, said. “The game’s enhanced visuals, with bespoke animation and multiple 4K quality camera angles, provide Bombay Live’s luxury experience, showcasing our commitment to providing sleek gameplay, optimised to ensure things run as quickly as possible without compromising quality.”

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Nailed It! Games Returns to the Stars in Cosmic Moon

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Nailed It! Games, an independent Krakow-based games studio, is embarking on another intergalactic adventure as it launches a sequel to one of last year’s hits with Cosmic Moon.

Returning to the cosmos, the title blends a futuristic space theme with retro iconography via its classic symbol design. These must form a matched combination across the slot’s 25 paylines to award a win, with diamond wild symbols aiding in creating these wins.

Two bonus rounds provide additional re-playability and excitement. The Link & Win bonus requires at least six cash-awarding moon symbols to be landed on the reels to trigger three re-spins. Here, additional Link & Win symbols must be landed to reset the three spins initially awarded.

These symbols can also be landed with a variety of jackpot prizes attached to them, with players being able to unlock the title’s mega jackpot by filling the entire gameboard with Link & Win icons. Offering increased personalisation and strategy, players can increase the frequency of these symbols with a Win Booster mechanic.

An alternate free spins round can be unlocked by landing at least three scatters. This will award ten free spins with the middle reels transforming into a large 3×3 symbol, boosting win potential. Furthermore, the Link & Win bonus can be awarded during the free spins round.

Cosmic Moon builds upon the success of its predecessor Cosmic Coins, providing more features, mechanics and an ante bet system to increase the overall entertainment experience. It follows other hit releases from Nailed It! Games including Grim Reaper Supermatch, Rainbow Burst and Cat Purry.

“Cosmic Moon has provided us with the opportunity to create a multifaceted release with numerous mechanics working in tandem to deliver players an escalation of excitement,” the co-founder of Nailed It! Games, Pawel Piotrowski, said. “With two bonuses up for grabs and the ability to trigger one whilst already enjoying the excitement of another, we have truly enthused this game with out-of-this-world fun.”

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PAGCOR PHOTO CONTEST DRAWS 2K EARLY REGISTRANTS IN 1ST WEEK

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THE Philippine Amusement and Gaming Corporation (PAGCOR) today reported a robust response to its much-anticipated annual photography contest after close to 2,000 individuals registered to join in the first five days after the contest launch on February 15.

PAGCOR Chairman and CEO Alejandro Tengco said the state gaming firm’s official website (www.pagcor.ph) also logged an 85.49% increase in page views compared to the previous week after the 2024 PAGCOR Photography Contest opened.

“We also monitored a 73.43% increase in our website users after we announced the start of the photography competition,” the PAGCOR chief said.

“We are optimistic that with the bigger cash prizes, lower age requirement and the new drone category, we will entice more professional photographers and hobbyists to join and showcase their talent in this competition,” he said.

With this year’s theme, “Harvest Time”, the 2024 PAGCOR Photography Contest will highlight the Filipino’s strength of character, patience and hard work in the fields leading to and during the harvest season.

The contest also celebrates the dedication of farmers, fishermen and other producers whose labor ensures food security and sustenance for the nation.

“The summer months of April and May will be a colorful and festive season for the country, especially in the countryside. The fields are ripe for harvest, the trees are laden with fruits and the flowers are in full bloom,” Chairman Tengco said.

“We hope that our contest participants this year will be able to immortalize the remarkable and bountiful resources of the Philippines that some of us take for granted,” Chairman Tengco added.

PAGCOR has earmarked Php2.23 million for the competition’s cash prizes this year, demonstrating its commitment to recognize the outstanding work of Filipino photographers while promoting the country’s rich identity and traditions.

Entries may be submitted until July 31, 2024.

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