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Kambi Group plc Q2 Report 2018

George Miller

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Kambi Group plc Q2 Report 2018
Reading Time: 4 minutes

Revenue amounted to €17.6 (14.1) million for the second quarter of 2018, an increase of 25% and €34.0 (28.3) million for first half of 2018, an increase of 20%
Operating profit (EBIT) for the second quarter of 2018 was €2.4 (0.3) million,
with a margin of 14% (2%) and 4.4 (1.6) million, with a margin of 13% (6%) for the first half of 2018
Profit after Tax amounted to €1.7 (0.1) million for the second quarter of 2018 and 3.2 (1.2) million for the first half of 2018
Earnings per share for the second quarter of 2018 were €0.055 (0.004) and €0.107 (0.040) for the first half of 2018
Cash flow from operating and investing activities (excluding working capital) amounted to €1.9 (-0.5) million for the second quarter of 2018 and €2.5 (0.3) million for the first half of 2018

Key highlights

Strong financial performance with 25% year-on-year revenue growth
Signed two US-based customers in DraftKings and Rush Street Gaming after US Supreme Court’s decision to fully repeal its federal sports betting ban

In Europe, signed Stanleybet Romania in Q2 and ATG and Latvijas Loto in Q3
Finalised long-term contract renewals with Kindred Group and Mr Green

“Although the World Cup began on 14 June, of even more long-term significance was a legal judgment handed down one month earlier. On 14 May, the US Supreme Court ruled the country’s federal ban on sports betting to be unconstitutional, and in doing so handed each state the authority to dictate their own sports betting laws.
The decision has the potential to create a significant business opportunity for Kambi. In previous quarterly reports we discussed how Kambi had been preparing for such an outcome, and our proactive efforts in the US can already be seen in our recent business wins.
Since the ruling, Kambi has signed two prominent operators in the US market. Firstly, in May we signed with Rush Street Gaming, an innovative gaming company with physical casinos in three US states, New York, Pennsylvania and Illinois, and an online presence in New Jersey. In addition, last month we secured a deal with DraftKings, the leading daily fantasy sports operator in the US and a company with a large database of sports fans.
I’m excited about what we can achieve with both customers, and in the US more generally. However, the state-by-state roll out of regulated sports betting will not happen overnight, therefore our US-facing business should be viewed in the mid-to-long-term.
In parallel, we continue to focus on our core business, which was boosted in June by the early stages of the World Cup. Revenues in Q2 were up 25% year-on-year, with revenue growth supported by yet another quarter of above average operator trading margin of 7.8%.
Ahead of the World Cup, we launched three new customers into three regulated territories within the space of a week, demonstrating the scalability and capacity of the Kambi platform. We also announced we were in final stage commercial discussions with Swedish horse racing operator ATG, a deal we subsequently closed shortly after the end of Q2.

ATG, one of the most recognisable brands in the Swedish market, will add a Kambi Sportsbook to its trotting and racing products once the market re-regulates at the beginning of 2019. This is a significant customer win for Kambi and one which will give us an even stronger position.
In early July we finalised our new long-term agreement with Kindred Group, a deal which gives Kambi a secure platform for future growth. Over the years, Kambi and Kindred have developed a strong partnership and I look forward to building on this in the future.
Overall, the past few months have produced very positive results for Kambi, both operationally and commercially, and I look forward to continuing this progress throughout the remainder of the year.”
You are invited to participate in a report presentation at 10:45 CET with the CEO Kristian Nylén and CFO David Kenyon. The presentation will be held in English via a telephone conference and can also be accessed via an audiocast using the link below.
Questions can be asked on the telephone conference or sent via the audiocast link. Please see details in the link below:
https://financialhearings.com/event/10898

Numbers for participation in the telephone conference:
SE: +46 8 566 426 62 UK: +44 203 008 9811 ES: +34 9 1414 07 82
US: +1 855 753 2236
No pin required.

Link to the audiocast: https://tv.streamfabriken.com/kambi-group-q2-2018

 

About Kambi
Kambi Group plc is a B2B supplier of managed sports betting services on a proprietary software platform, providing premium turnkey sports betting services to gaming operators. Kambi’s product encompasses a broad offering from front end through to odds compiling and risk management. The company’s current coverage includes more than 200,000 live betting events and 325,000 pre-match events per year covering 65 different sports from all over the world. Kambi employs more than 600 staff across offices in Malta (headquarters), Bucharest, London, Manila, Stockholm and Sydney.
Kambi utilises a best of breed security approach. Kambi is a member of WLA, EL, Cibelae and is eCOGRA and ISO 27001 certified. Kambi Group plc is listed on First North at Nasdaq Stockholm under the symbol “KAMBI”. The Company’s Certified Advisor is Redeye AB.
Disclaimer: The information in this report/press release is such that Kambi Group plc is required to disclose under the EU Directive of Market Abuse Regulation and the Swedish Securities Market Act.

George Miller started his career in content marketing and has started working as an Editor/Content Manager for our company in 2016. George has acquired many experiences when it comes to interviews and newsworthy content becoming Head of Content in 2017. He is responsible for the news being shared on multiple websites that are part of the European Gaming Media Network.

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European Casino Association to Conduct their Annual Industry Forum in Cannes

Niji Narayan

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European Casino Association to Conduct their Annual Industry Forum in Cannes
Reading Time: 1 minute

 

The European Casino Association’s annual Industry Forum is going to be held in the stunning waterfront Royal Casino JOA de Mandelieu in Cannes on 25 and 26 of June. The two-day event brings together members, partners and high-level experts in order to exchange views and discuss the latest trends in the casino industry.

The participants will be able to attend seminars covering innovation in the industry, the role of casinos in promoting destination tourism and the use of technology in a modern casino environment. The main topics on the agenda will be the issue of gambling advertising regulation and new developments and research in responsible gambling.

“We are delighted to welcome our members, partners, and stakeholders to the stunning venue of the Royal Casino JOA in Mandelieu-Cannes. The event represents a great opportunity to exchange views and discuss topics of interest to our industry. Moreover, we will have a seminar dedicated to the very relevant regulatory issue of gambling advertising, for which we envisage a cooperative approach with the ultimate purpose of protecting consumers and fighting illegal gambling,” Per Jaldung, ECA Chairman said.

“The licensed land-based casino industry in France is continuously innovating and improving the entertainment offer to our customers and local economies. The focus of the Industry Forum on innovation and technology is therefore great to discuss best practices and future trends. We very much look forward to welcoming the key people in Europe’s land-based casino industry to one of JOA’s newest and most exciting casinos in the South of France,” Laurent Lassiaz, President and CEO of JOA Group said.

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Rapid growth leads to office move for Altenar

George Miller

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Rapid growth leads to office move for Altenar
Reading Time: 1 minute

 

Leading sportsbook platform provider Altenar on June 12 celebrated the opening of its new office in Malta with a party attended by a large number of the island’s gaming professionals.

The event featured a jazz band and was catered by restaurant Ali Baba.

Altenar’s relocation to the Pendergardens Business Centre from its previous office in Sliema became necessary due to the company’s outstanding growth over the past few years.

Its headcount has risen from just 26 employees in 2016 to more than 100 today across its three locations in Malta, Greece and Russia.

Altenar has also doubled its revenues each year from 2016 to 2018, and already 2019 has seen a number of exciting launches for the company. These include its first regulated Swedish client launch with Lucky Casino in May, as well as its entry into Romania with Red Sevens in January.

Domenico Mazzola, Commercial Director at Altenar, said: “We are very proud of our phenomenal success over the past few years and look forward to expanding further in future. Our new office in Malta gives us space to continue to grow and we will shortly start the hiring process to ensure we have the right people to help us do so.

“This year has seen a number of exciting developments for Altenar and we have a number of new launches coming up imminently.”

 

About Altenar:
Altenar is a leading provider of sportsbook software and services to gaming operators. Its clients include Wplay.co, the dominant sportsbook operator in the regulated Colombian market, Betrebels in Greece, Winbet in Bulgaria and Betbiga in Nigeria.
It offers an extensive range of markets and sports, with its premium data package from Betradar enhanced further by the recent addition of the Betgenius live events portfolio.

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Yggdrasil games debut in Spain with Casino Barcelona Online

George Miller

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Yggdrasil games debut in Spain with Casino Barcelona Online
Reading Time: 1 minute

 

Supplier’s games portfolio available in Spanish market for the first time

 

Yggdrasil’s premium portfolio of casino games are live in the Spanish market with Casino Barcelona Online.

The launch marks the first time that Yggdrasil’s popular casino games are available to Spanish players, including Golden Fish Tank, Valley of the Gods, as well as the blockbuster games Vikings go Berzerk and Vikings go Wild.

Casino Barcelona, the leading brand in the Spanish casino market, will bring Yggdrasil’s exciting content portfolio to its players via its online platform at CasinoBarcelona.es.

Xavier Ballester, Director of Casino Barcelona Online, said: “We are really proud to be the first operator to offer Yggdrasil’s games in Spain and we are certain that their products will help accelerate the growth of our brand as a market leader in the country. “

“We are very impressed with the Yggdrasil games and the outstanding graphics, maths and gamification tools which we are sure will be a hit with our customers.”

Fredrik Elmqvist, CEO, Yggdrasil, said: “We are thrilled to go live in Spain and to offer our games to local players together with such a significant brand as Casino Barcelona.

“The Spanish gaming market has shown consistently strong growth and an increase in popularity over the last few years and we are excited about the upcoming opportunities.

“We are looking forward to a long and successful partnership that will see us continue to bring new and innovative content to the Spanish market with Casino Barcelona.”

 

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