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Kambi Group plc Q1 Report 2024
Financial summary
- Revenue amounted to €43.2 (Q1 2023: 44.0) million for the first quarter of 2024
- Operating profit (EBIT) for the first quarter of 2024 was €4.4 (4.5) million, at a margin of 10.2% (10.3%)
- EBITA (acq)* for the first quarter of 2024 was 5.8 (5.8) million, at a margin of 13.3% (13.1%)
- Cash flow (excluding working capital and M&A) amounted to €5.4 (3.2) million for the first quarter of 2024
- Earnings per share for the first quarter of 2024 were €0.107 (0.107)
- The 2024 AGM will be held on 21 May 2024. The Board proposes that no dividend is paid out.
*EBITA (acq) = Earnings before interest, taxation and amortisation on acquired intangible assets
Key highlights
- AI trading division Tzeract to provide European operator kwiff with its market-leading Bet Builder product in first commercial partnership
- Extended retail sportsbook partnership with Penn Entertainment until 31 December 2025, replacing previous agreement which was set to end July 2024
- Launched LiveScore Group’s Kambi-powered sportsbook in Nigeria, followed by a launch in the Netherlands after quarter end ahead of a wider rollout before Euro 2024
- Continued development of open platform and trading gateway with integration of Inspired Entertainment’s virtual sports offering and preparation of external odds feeds provision
- Completed the third share buyback programme and announced a further share buyback programme running from 18 March to 20 May, up to a total of €4.0 million
- In January, Kambi’s CEO and Co-founder Kristian Nylén notified the Board of his intention to step down from his current position once a successor is in place
CEO comment
“For the first quarter of the year we posted revenue of €43.2 million, which was in line with our expectations, while expenses were at the lower end of our guidance at €39.0 million.
A key highlight of the quarter was the launch of LiveScore Group’s new Kambi-powered sportsbook in Nigeria, followed swiftly by a launch in the Netherlands. LiveScore was a pivotal signing for Kambi in 2023 and these launches mark crucial milestones toward our long-term objectives. We look forward to additional launches in the near future, including in its core UK market, ahead of a busy summer of sports with Euro 2024 and Copa América both set to commence in June.
The important signing of LiveScore, as well as other key 2023 partner signings, were partly dependent on us delivering on certain product requirements. As part of these product deliveries, we have been integrating external content into the Kambi platform, enabling operators to enhance their offerings and deliver even greater product differentiation. In Q1, for example, we integrated virtual sports, an important and complementary vertical to sports betting, while more recently we enlisted a third party to strengthen our horse racing product. With these deliveries we strengthen our flexible and high quality solution for partners.
Having made great strides on opening up our platform to deliver on these partner requirements, we are now picking up the pace with modularisation. This sharpened focus means we are preparing to provide modular Kambi odds feeds to those operating on their own technology and outside of our network. This means operators can, via a single API integration, access our full suite of sports odds, including those powered by Tzeract and Abios, enabling them to select their desired mix of sports, events and product types from a single source. Our market research shows demand for such a flexible and powerful solution, with operators today having to integrate with multiple suppliers with varying degrees of quality.
As part of our ongoing modularisation strategy, yesterday we announced Tzeract’s first commercial agreement since launching as a standalone division. Partnering with kwiff to provide its leading Bet Builder product will enable Tzeract to demonstrate the quality of its product via an operator outside of the Kambi network for the first time, an important milestone in the division’s progress.
In summary, we have continued to build solid foundations for the future. Our commitment to pushing the boundaries of product excellence and innovation, as highlighted by the development of our modular odds feeds, is positioning Kambi as a leader in shaping the future of sports betting technology.”
You are invited to participate in a web presentation at 10.45 CEST with Kambi Group plc’s CEO Kristian Nylén and CFO 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.
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Springbok Casino’s Wild November Feature ‘Backyard Gangsters’ Offers 25 Free Spins on new Clue Chronicles: Mirror Mansion slot
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Play’n GO, the world’s leading casino entertainment provider, is today celebrating a five-award sweep in the coveted 5 Star Media Awards of 2024.
The legendary games studio nabbed a second consecutive Slot Supplier of the Year award, as well as being named the RNG Casino Supplier of the Year. The company also secured three of 5 Star Media’s “Top 20” Awards for co-founder and CMO Ebba Arnred, Director of Business Development Stuart Trigwell, and Head of Brand and Communication, Andrew Pink.
Play’n GO has enjoyed a landmark 2024, breaking new ground by entering the South African market, as well as expanding its US presence into what is now five states.
Ebba Arnred, Co-Founder and Chief Marketing Officer at Play’n GO, commented “We’re always very pleased to have our work recognised at the various awards throughout the year, but to win five in one fell swoop is almost unprecedented. It’s very special to be awarded Slot Supplier of the Year for a second year in a row, and RNG Casino Supplier of the Year is another well-received feather in our cap. We would like to thank 5 Star Media and the entire judging panel, as well as our entire team here at Play’n GO, without whom these award wins simply wouldn’t happen. On a personal level, I’d also like to express gratitude for the individual recognition of a 5 Star “Top 20” Award.”
Stuart Trigwell, Director of Business Development at Play’n GO, added “I’d like to express a sincere thank you to 5 Star Media for being recognised in their “Top 20” Awards. We do our work not for individual accolades but for the success of the entire business, so it’s great to see Play’n GO so well represented across the board.”
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eSports
Procedure to be followed by school clubs affiliating for the 2025 season
Mind Sports South Africa (MSSA), founded in 1984, is the national federation for Board games, Card games, Esports, and Wargames.
MSSA promotes all the different disciplines equally, although each school may pick-and-choose which discipline it wishes to promote at its school. Some schools will promote the whole gambit, while others will concentrate on only one discipline, and/or even just concentrate on one specific title.
The choice is ultimately up to the school.
MSSA has sent teams with full Protea Colours to international events since 1991 for wargames, 1996 for Morabaraba, 1997 for Checkers, and 2005 for Esports. Many members of the national teams have been scholars, and all have benefited from their involvement in the national Protea Team.
There is still the option open for a school to start a full-blown sub-club on its premises, but bearing in mind the tight regulatory conditions under which accredited schools have to operate in the Republic, the MSSA no longer deems it necessary for a school to start a sub-club.
As long as the school club has the approval of the school, and has an Educator-in-Charge, a school may affiliate by merely completing the Application for Affiliation Form and submitting such to MSSA.
Advantages of having a MSSA affiliated club: There are many advantages of having a MSSA affiliated club, such as:
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Being part of a community where your club has a real say in how things are done
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Being able to apply for National Lottery Funding – MSSA member clubs can apply for up to R800,000.00 in funding
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Being able to get assistance from your local government
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Experience increased media exposure of your events and your gamers
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Become part of the international community through the MSSA Registered players are able to become internationally recognised umpires, etc.
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Enable your gamers to take part in MSSA events, which may qualify them for Regional, Provincial, and National colours, overseas trips, and even sports bursaries at university.
- Private clubs: one vote per every five registered players, and
- School clubs: one vote per every ten registered players.
MSSA’s General Regulations
The General Regulations comprises of decisions made by both Council and Executive Committee Meetings. The General Regulations deals with how sub-committees operate as well as to how teams are selected and development funding is distributed. Please refer to Schedule 10.12 in regard to the rights of clubs in hosting events.
MSSA’s Discipline Specific Regulations
The Discipline Specific Regulations deal with rules concerning the different disciplines. The Disciplines that the MSSA caters for are; Board Gaming, Card gaming, Esports, and Figure Gaming.
When a club applies for membership, the applicant club must complete such form and return the same to the MSSA.Fee note for 2025
The fee note details the Affiliation Fees and Registration fees that are payable.
Player Registration Form
The Player Registration Form needs to be completed by every player that is a member of a club and intends to participate in MSSA affairs.
MSSA’s Letter of Undertaking
The Letter of Undertaking is for all registered players who sit on any MSSA committee.
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