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Norsk Rikstoto upgrades player protection with latest version of mentor

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Neccton’s existing customer Norsk Rikstoto has extended its usage of the company’s mentor software. Norway’s state-backed horse race betting monopoly operator Norsk Rikstoto is already a customer of the software, but they recently upgraded to better protect their players from potential harm.

Rikstoto were already using Neccton’s world-renowned Responsible Gambling module to look after their players and spot early signs of potentially harmful behaviours but now, they have upgraded to the latest version of mentor. This means they are now using the Cloud-based solution, allowing them to scale up their protections and meet the demands of their customers.

Norsk Rikstoto is a foundation that supervises parimutuel betting on animal racing in Norway. It was established on 24th September 1982 by the Norwegian Trotting Association and the Norwegian Jockey Club. Norsk Rikstoto is supervised by the Norwegian Gambling authority. To prevent overspending, a number of player protection measures have been introduced in recent years. One of them is a monthly loss limit of NOK 20,000. Furthermore, Norsk Rikstoto is required to monitor player behaviour for signs of problematic gambling. Players are also informed about their gambling spending and can perform a reality-check any time. In 2022, Norsk Rikstoto’s license was renewed for 10 years, from January 1st 2023.

The award-winning mentor analyses player behaviour to look for markers of harm such as the amount and frequency of deposits and wagers, multiple payment methods, and many more. Upgrading to the Cloud version of mentor also means Norks Rikstoto is utilising software that has been developed with the latest research on responsible gambling at its heart.

mentor is the result of more than 15 years of academic research by Dr Michael Auer, director and head of development for Neccton, widely regarded as one of the world’s leading experts in the field of RG and problem gambling behaviours.

Dr Auer said of Norsk Rikstoto’s upgrade: “Our customer has recognised that the mentor software was working well for them, and also realised they can look after players even more effectively by upgrading. It’s great for us to see how seriously our customers take both our work, and theirs!”

The software – which has rapidly become the market leader in Europe and is used by many of the continent’s top iGaming operators – also features modules for AML, Fraud and aCRM, so it is a one-stop solution for many of the most pressing needs facing operators today.

mentor is our main tool in our responsible gambling framework. The tool gives us insight, data and understanding of our customers behaviour and helps us to achieve our main purpose – offer gambling in safe and responsible forms,” says Anne Mathisen, advisor responsible gaming, at Norsk Rikstoto.

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Kambi Group plc Publishes Q4 Report 2023 and Provides Guidance on Revenue for the Full Year 2024

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“I am pleased with the strategic progress we made throughout 2023 as we continue to build a strong foundation for growth over the coming years,” the co-founder and Chief Executive Officer for Kambi Group plc, Kristian Nylen, said.

Financial summary:

  • Revenue amounted to €44.3 (Q4 2022: 57.8) million for the fourth quarter of 2023 and €173.3 (2022: 166) million for the period January to December of 2023
  • Operating profit (EBIT excluding Items affecting comparability) for the fourth quarter of 2023 was €7.2 (18.7) million at a margin of 16.1% (32.3%) and €20.0 (34.8) million at a margin of 11.5% (20.9%) for the period January to December of 2023
  • EBITA (acq)* for the fourth quarter of 2023 was €8.5 (20.5) million at a margin of 19.2% (35.4%) and €25.2 (37.6) million at a margin of 14.6% (22.7%) for the period January to December of 2023
  • Cash flow (excluding working capital and M&A) amounted to €5.5 (17.9) million for the fourth quarter of 2023 and €15.0 (25.2) million for the period January to December of 2023
  • Earnings per share for the fourth quarter of 2023 were €0.182 (0.491) and €0.488 (0.861) for the period January to December of 2023
  • Kambi Group plc has decided to communicate revenue guidance for 2024. Kambi Group plc estimates revenue for the full year to be €170 to €180 million
  • Kambi Group plc announced a share repurchase programme running from December 5, 2023, to May 21, 2024, up to a total of €2.8 million
  • The 2024 AGM will be held on May 21, 2024. The board proposes that no dividend is paid out

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

Key highlights:

  • Underlying turnover growth of 6% when excluding the impact from Penn Entertainment’s (Penn) online migration
  • Excluding the termination fee recorded in Q4 2022, revenue of €44.3 million represented a 2% decrease for the quarter and full year 2023 revenue of €173.3 million was a 13% increase against tough comparatives including the World Cup in Q4 2022 and the Penn online migration
  • Entered into long-term sportsbook platform agreements with Svenska Spel and LiveScore Group to power their respective brands. These partnerships leverage established customer bases and revenue streams with meaningful financial impact anticipated from H2 2024
  • Secured two additional European sportsbook partnerships including a long-term deal with fast-growing Dutch online casino operator 711 and a multi-channel partnership with Bingoal to provide superior sports betting technology in Belgium and the Netherlands
  • In November, Kambi Group plc co-founder and member of the board Anders Strom became Chair of the Board, succeeding Lars Stugemo
  • In January, Kambi Group plc’s co-founder and Chief Executive Officer Kristian Nylen notified the board of his intention to step down from his current position upon the appointment of a successor

Revenue guidance for 2024:

Kambi Group plc today provides 2024 full year revenue guidance of €170 to €180 million. This full-year guidance is provided strictly on a one-off basis and Kambi Group plc does not intend to provide annual guidance for coming years.

Chief Executive Officer comment:

“The final quarter of 2023 saw Kambi Group plc conclude a year of strong strategic progress whilst navigating what remains a complex and challenging sports betting landscape. Revenue of €44.3 million in Q4 reflected a 2% year-on-year decline excluding the one-off termination fee from Penn recorded in Q4 2022, largely due to the loss of Penn’s online revenue. On a full-year basis, revenue increased 13% to €173.3 million when excluding the termination fee.

“As I look back on the year, I have two overriding takeaways, the first being I’m not satisfied with our financial performance. This performance was impacted by lower than anticipated revenue from Shape Games, smaller than expected revenue contributions from two of our largest partners and Bally’s more measured approach to marketing its sportsbook thus far. My second reflection is we made good progress in building the foundations that will ultimately lead to a much-improved financial performance in the future, giving me confidence we’re on the right path for the long-term.

“These foundations include the numerous partner signings and renewals made last year, headlined by the partnerships with Bally’s Corporation, LiveScore Group and Svenska Spel, which we expect to deliver a meaningful revenue contribution from H2 2024. We also continue to work on our modularisation capability and believe with Abios, Shape Games and now Tzeract, the positive commercial conversations we’re having with regards our strong product portfolio will increasingly bear fruit during the year ahead.

“On Shape Games, we recently took the decision to integrate it further into the business to make the most of the opportunities we see in combining the strengths of the Kambi Group plc and Shape Games UX teams. Meanwhile, another important element to financial performance is tight cost control, so it is pleasing today we can communicate a limited year-on-year cost increase for 2024. These are just some of the actions we have taken to put us in a stronger position moving forward.

“Having said that, it is important to note that challenges do continue to exist, including a slower roll-out of newly regulated sports betting markets. The outlook in certain markets has not been as promising as previously anticipated, particularly in California where 2028 now appears to be a more realistic timeline for regulation. In Brazil, we welcome the long-awaited regulation of the country’s sports betting market but are also mindful that the transition to a fully-licensed framework is unlikely before Q3 2024 and that new operators will face tough competition entering what is already a mature grey market with established sports betting brands.

“Meanwhile, in January, I communicated to the market of my intention to step down as Chief Executive Officer in 2024 and a search to find my successor is now underway. I want to emphasise that our long-term strategic direction remains unchanged and I am pleased with the milestones we achieved as a business throughout 2023. While there has indeed been a slowdown in regulatory-driven opportunities, we remain very positive about the long-term trajectory of Kambi Group plc. Our resilience, strategic progress and commitment to product excellence have set us up well for the future and, as we move forward, we do so with great optimism for the journey ahead.”

Update from the Chair:

Anders Strom, who was appointed Chair of the Board in November of 2023, provides the following update on appointing a successor to Kristian Nylen:

“Following the announcement regarding our Chief Executive Officer in January of 2024, the board of Kambi Group plc has initiated the process of seeking a successor. The search is progressing according to plan, with the aim to finalise an appointment prior to the summer period. In the meantime, the company’s progress towards its long-term strategic objectives remains uninterrupted.”

You are invited to participate in a web presentation at 10.45 CET with Kambi Group plc’s Chief Executive Officer, Kristian Nylen, and Chief Financial Officer, 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.

Please see details in the link below:

https:// FinancialHearings. com/event/46435

Link to the webcast:

https:// IR.FinancialHearings. com/Kambi-Group-q4-report-2023

Dial-in number to the teleconference will be received by registering on the link below. After the registration you will be provided phone numbers and a conference ID to access the conference: https:// Conference.FinancialHearings. com/teleconference/?id=50046435.

Link to report page: https:// www. Kambi. com/investors/financial-reports-and-presentations/

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Wazdan Expands its Energy-Efficient Series in Hot Slot: 777 Rubies Extremely Light

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Wazdan, the gain-focused developer behind some of the world’s most rewarding casino game experiences, has given the Extremely Light makeover to its popular retro title by introducing Hot Slot: 777 Rubies Extremely Light.

An eco-friendly version of the original title, the revamped version offers smoother gameplay, faster loading times and less drain on the battery life of devices.

Played out on a 5×3 reel grid with a variety of retro fruit symbols, the game blends a classic slot design with dynamic features.

Landing between two to five rubies awards players a mini, minor, major or grand jackpot respectively, giving a win potential of between 20x and 500x the player’s bet.

The Magic Respin feature that made the original a favourite among slot enthusiasts returns. Triggered when one or more scatter symbols land on the board and enables players to wager on a reel to collect further scatters and win a jackpot reward.

Continuing its dedication to providing accessible iGaming experiences, this newest addition to the provider’s innovative series follows in the footsteps of Hot Slot: 777 Coins Extremely Light and Hot Slot: 777 Cash Out Extremely Light.

“Hot Slot: 777 Rubies Extremely Light features all the same thrilling mechanics of the original that made the game a favourite including the 5 Rubies Jackpot and the Magic Respin, all whilst reducing the energy consumed by the gameplay,” the Chief Commercial Officer for Wazdan, Andrzej Hyla, said. “Our Extremely Light series has been received with a tremendous reception from players and operators alike, motivating us to expand and enrich it further with even more releases planned for the duration of the year.”

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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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