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Kambi Group plc acquires front end specialist Shape Games

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Kambi Group plc acquires front end specialist Shape Games
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Kambi significantly strengthens capability to deliver engaging and tailored sports betting experiences through addition of industry leading front end supplier

Kambi Group plc, the industry’s trusted sports betting partner, has strengthened its sportsbook proposition with the acquisition of award-winning front end technology specialist Shape Games for an upfront consideration of €38.5 million. The acquisition also includes a performance-related earnout of up to €39.6 million, potentially bringing the total consideration to €78.1 million, all to be paid in cash.

Headquartered in Copenhagen, Denmark, Shape Games is the industry’s leading front end provider, focused on driving customer engagement and retention through the delivery of its customisable, fully native frontend technology to leading operators in regulated markets. Shape Games’ growing roster of partners includes Danske Spil and Norsk Tipping, as well as Kambi partners BetWarrior and JACK Entertainment, with each operator leveraging Shape Games’ technology to offer highly differentiated user experiences.

Transaction highlights and strategic rationale
Shape Games’ fully native front end technology complements Kambi’s high performance sportsbook and existing front end capabilities, creating a compelling proposition that will significantly enhance Kambi’s capabilities in the mobile space where the vast majority of sportsbook turnover originates. Combined, Kambi and Shape Games will empower operators to deliver exciting, tailored sports betting experiences to their players like never before.

The sportsbook front end has become a key tool for operators to effectively differentiate their brand, localise their offering and engage players to increase acquisition and retention. Not only does Shape Games provide a best-in-class front end, but its complementary customer engagement capabilities, which include personalisation, loyalty, statistics, and free-to-play games, provides the ability for operators to drive incremental growth and revenue.

The acquisition builds upon an established partnership between the two companies. Kambi and Shape Games have successfully combined on tender processes to secure turnkey contracts and Kambi believes the closer bond this agreement delivers will ultimately lead to greater commercial success for both parties.

The addition of Shape Games marks another important step in Kambi’s strategy, as it extends Kambi’s excellence within the sports betting value chain and enables the delivery of the front end through either turnkey or modularised packages. As such, Shape Games will continue to provide its services on a standalone basis to all operators, but a closer technical and commercial integration with Kambi will enable an enhanced service to be offered to Kambi’s current and future partners. In 2021, Shape Games generated revenue of €7.6 million at an EBITDA of €2.8 million, with 2022 forecast to deliver 100% year-on-year growth following several major partner wins.

Kristian Nylen, Kambi Chief Executive Officer and Co-founder said: “I’ve always been clear on our intention to acquire technology and talent that will complement and enhance our sportsbook proposition, and I have no doubt Shape Games will do just that. Having worked closely with Shape Games and its experienced team over recent years, I have seen first-hand how their technology enables operators to extract the full value of the Kambi sportsbook and provides the level of control operators require to deliver bespoke experiences to their players. While Shape Games will continue to grow and offer services on a standalone basis in line with our plans to offer a suite of modularised products, it is the ability to offer a combination of Kambi’s and Shape Games’ technology to our partners which really excites us and solidifies our position as the clear leader within the sports betting ecosystem.

Christian Risom, Shape Games Chief Executive Officer and Co-founder, said: “We are very happy to join forces with the leading sportsbook provider of the industry. Shape Games and Kambi have been working closely side by side for years now and it is exciting to take this partnership to new levels. Together we will have an unmatched sports betting and casino offering for any market in the world, be it on mobile and web or in retail. Kambi’s modular approach to the market allows us to form a profound and tight-knit integration with their sportsbook all the while pursuing opportunities with other sportsbook partners. From our perspective, this represents the best of both worlds for any customer out there. For me personally, the years we have worked with Kambi were a clear testament to the cultural match between the two organisations as both have a deeply rooted focus on best-in-class technology, customer experience and integrity in everything we do. It has always been great working alongside Kambi as collaborators and I am certain that what lies ahead is even greater.”

Shape Games was founded in 2018 by Risom, Chief Product Officer Nicolas Linde, and Chief Technical Officers Ole Gammelgaard and Philip Bruce, all of whom will continue to lead the company post-acquisition. Shape Games applies the vast front end experience gained from working with companies such as RedBull, Bang & Olufsen and Credit Suisse to the iGaming industry. Shape Games has since won numerous industry awards and several high-profile clients across Europe, North America, and South America. The company has approximately 80 full-time equivalent employees, with offices in Denmark, Spain, the Isle of Man, and Latvia.

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Germany Becomes Latest Jurisdiction to Partner with TPD

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Deal with German Tote sees race tracking and data monetisation available across thoroughbred and harness tracks in Germany

German Tote has selected Total Performance Data (TPD), the world’s leading live horse racing data provider, for race tracking and data monetisation across all 19 thoroughbred racecourses and several harness tracks, starting at Berlin’s Hoppegarten for the beginning of its turf season in late March.

German Tote recognises the numerous ways in which horse tracking can enrich the sport, with live running orders displayed on racecourse big screens a significant aspect of its appeal. TPD is also tasked with providing data feeds and in-play odds to bolster engagement and betting turnover.

In addition to showcasing live race graphics, German racing punters will gain insights from state-of-the-art sectional timing and stride data that TPD delivers.

The deal means that renowned races such as the Deutsches Derby and the Grosser Preis von Berlin will now join prestigious events like the Dubai World Cup, Ascot, the St Leger, Melbourne Cup and Breeders’ Cup within the comprehensive racing data portfolio of TPD and follows the news of the recent announcement of the merger between TPD and Australasia’s largest live racing data company, tripleSdata.

“After a careful review and trials of different systems, like many others, we chose TPD,” the Managing Director for German Tote, Riko Luiking, said. “It has a great system, significant experience and represents value for money. We have also been impressed with its hardware partner, GMax, who is already underway and expecting to have all 19 racecourses live by August.”

“We’re so pleased to welcome German Tote and German racing after over a year of work between both teams,” the Chief Executive Officer for TPD, Will Duff Gordon, said. “It’s important to produce in-race performance metrics to boost interest in German horse racing, especially its classics, with breeders, punters and horsemen ready to act on the content.

“On the back of our recent merger with tripleSdata, it’s great to keep up the momentum as we surpass 120 worldwide racecourses.”

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Issuance of Common Bond Loan

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The Athens Stock Exchange welcomed today representatives of the Management team, senior executives, and partners of INTRALOT on the occasion of the commencement of trading of its corporate bond on the Main Market of the Athens Stock Exchange. INTRALOT’s Chairman and CEO, Sokratis Kokkalis, declared the commencement of trading by ringing the traditional bell.
Mr. Yianos Kontopoulos, CEO of the Athens Exchange Group, welcomed INTRALOT’s Management team and highlighted the company’s successful Public Offering, from its entry into the Parallel Market of the Athens Stock Exchange in 1999 to the present day: “INTRALOT’s journey to the Athens Stock Exchange began 25 years ago, in November 1999, when the company was listed on our Parallel Market with a market capitalization of approximately €220 million. Today, with a market capitalization of €720 million, it is one of the companies listed on the Main Market. Since last November, INTRALOT has been included in the composition of the FTSE/Athex Mid Cap Index with the highest participation (12.2%) among the 20 companies in the index. With the successful completion of a €135 million share capital increase in October 2023 and today’s issuance of its €130 million corporate bond, INTRALOT is demonstrating its confidence in the important role the stock market can play as a lever to raise capital for business development.”
The Chairman and CEO of INTRALOT, Mr. Sokratis Kokkalis stated: “INTRALOT is a company that produces technology in Greece and has been operating successfully for many years in a highly competitive global environment, including the US, where we have had a strong presence for twenty years. I would like to thank the Greek investment community that participated in the recent Bond Issue and everyone who contributed to this success. Our company is moving forward, focusing on growth opportunities and strategic partnerships that leverage our extensive experience and proven next-generation technology in a digital world.”
On her part, the Vice-Chair of the Hellenic Capital Market Commission, Mrs. Natassa Stamou, noted: “During its 25 years on the Athens Stock Exchange, INTRALOT has always confirmed the value of being listed on the stock exchange, using the financial tools available and raising capital through the issuance of shares and bonds for the benefit of investors and the market. INTRALOT’s outward-looking
approach and presence in various jurisdictions highlights and promotes the potential of raising capital in Greece. The successful issuance of its bond is further evidence of INTRALOT’s strong confidence in the Greek economy and market.

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ITV Studios deal unlocks more huge brands for Jogo Global

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Jogo Global, the mobile and land-based platform provider and game content developer, has sealed a landmark deal with ITV Studios, gaining access to huge entertainment brands including The Voice and Hell’s Kitchen.

The collaboration agreement sees IP from many of ITV Studios’ leading shows, including global hits Love Island and I’m a Celebrity… Get Me Out of Here! available to add to Jogo Global’s hugely popular collection of Fast Games.

The Fast Games category is a new and novel vertical of casino games, developed by Jogo Global for online, mobile and land-based platforms. Fast Games are immersive multiplayer products, packed with social and community engagement tools and featuring a wide range of highly engaging game concepts, such as Crash, Double, Mines, Pick and Pull Tabs.

David Marcus, CEO of Jogo Global, said: “The start to 2024 has been incredibly positive for Jogo, and nothing has thrilled me more than this hugely significant deal with ITV Studios.

“The Fast Games category continues to go from strength to strength and to be able to build new titles around the IP of shows such as The Voice and Love Island is very exciting. We cannot wait to bring these games to market.”

Steve Watling, SVP Gaming, Global Partnerships, ITV Studios added: “The team at Jogo Global has a track record for taking highly valued IP and combining it with clever concepts to deliver compelling gaming experiences and this collaboration, alongside global operators, will open opportunities in new and established markets.

“We are not only happy to trust Jogo with some of our most valued brands, but we cannot wait to see the games.”

This latest deal with ITV Studios strengthens Jogo Global’s collaborations with world leading entertainment IP and brands.

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