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Kambi Group plc Q4 Report 2022

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Financial summary

  • Revenue amounted to €57.8 (Q4 2021: 34.9) million for the fourth quarter of 2022, including a €12.6 million termination fee from PENN Entertainment, and €166.0 (2021: 162.4) million for the period January to December of 2022
  • Operating profit (EBIT) for the fourth quarter of 2022 was €18.7 (7.1) million, at a margin of 32.3% (20.2%), and €34.8 (57.0) million, at a margin of 20.9% (35.1%) for the period January to December of 2022
  • Revenue and operating profit (EBIT) excluding the termination fee from PENN Entertainment were €45.2 and €6.0 million respectively for the fourth quarter of 2022, and €153.4 and €22.2 million for the period January to December of 2022
  • Earnings per share for the fourth quarter of 2022 were €0.491 (0.198) and €0.861 (1.501) for the period January to December of 2022
  • Cash flow (excluding working capital and M&A) amounted to €17.9 (4.8) million for the fourth quarter of 2022 and €25.2 (44.6) million for the period January and December of 2022
  • The 2023 AGM will be held on 11 May 2023. The Board proposes that no dividend is paid out.
  • The Board of Directors decided on 19 January 2023 to adopt long-term financial targets in line with Kambi’s strategic vision

Key Q4 highlights

  • Operator turnover growth of 20% year-on-year and 43% sequentially, driven by return of busy US sporting calendar and market expansion
  • Revenue increased 30%, excluding the termination fee, on back of strong operational performance
  • Successful soccer World Cup that saw strong platform stability and a leading offering for partners, powered by newly developed algorithmic trading capability
  • New partnership agreement with Rei do Pitaco, the number one fantasy sports operator in Brazil, which will leverage brand and database to transition to sports betting

Highlights after Q4

  • Agreed extension to successful partnership with Rush Street Interactive, one of the leading operators in the Americas
  • Extended footprint in North America with day one market launches in Massachusetts and Ohio which have a combined population of nearly 20 million
  • Continued commercial momentum with the signings of Miami Valley Gaming in Ohio and del Lago Resort & Casino in New York, as well as the renewal of Sun International in South Africa

“The year finished with a flourish with the business delivering across several key areas, providing the perfect springboard into 2023. Operator turnover continues to rise with Q4 turnover up 20% year-on-year and 43% sequentially, buoyed by a busy US sporting calendar.

The soccer World Cup was also an important event for us during the period. Overall, player engagement was excellent with the World Cup final the highest turnover for a soccer game in Kambi’s history. However, the trade-off was a significant reduction in domestic soccer fixtures as top leagues took a mid-season break. A key World Cup highlight was the strength of our product, driven by our third-gen algorithmic trading capability, which we discussed in depth at our recent Capital Markets Day.

This new method of trading automation has been in development for a few years, with the World Cup providing us with the perfect opportunity to stress-test it at scale and we couldn’t have been happier with its performance. Powering our entire pre-match offering, this proprietary capability leverages the full power of data to deliver an even greater product, with more betting opportunities presented to the player in a quick and cost-efficient way. Since the World Cup, we have fully automated the pre-match pricing to deliver a World Cup standard product across many of the top domestic leagues and will continue the roll out across the year to realise more of its benefits, including the automation of in-play pricing.

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Just days after the World Cup final, we signed a partnership agreement with Rei do Pitaco, the largest fantasy sports operator in Brazil. I have high hopes for this partnership, having seen the impact fantasy sports databases can have when transitioned to regulated sports betting. The agreement also strengthens our position in Latin America, where we have already taken the leadership position in Colombia and continue to expand in Argentina, adding a further four provinces during the quarter.

Looking back on the full year, it was one where Kambi was able to make significant strategic progress, whether it was securing partnership extensions with Kindred and Parx, the numerous new partners we signed, the leap forward in our UX capability through the acquisition of Shape Games, the continued modularisation of our service to increase our addressable market or the development of our algorithmic trading capability.

All these achievements and more saw us enter 2023 in a fantastic position, one which was quickly strengthened by the extended partnership agreement with Rush Street Interactive in January. The global economic outlook might be uncertain, but we have a proven, robust business, one which is ready to meet any challenges that lie ahead. With a clear focus on the updated strategy we detailed at our Capital Markets Day, we are ready to build towards the financial targets we’ve set ourselves for the coming years.”

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Swintt journeys back through the sands of time in Egypt King Book Hunt

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Calling all treasure hunters, thrill seekers and intrepid explorers with a thirst for the unknown – this month, popular premium casino software provider, Swintt, is inviting you back on an epic journey through the sands of time in its action-packed slot, Egypt King Book Hunt.

Set to a backdrop of a long-forgotten temple where mystic relics abound, Egypt King Book Hunt is the third instalment of the popular SwinttPremium series and this time combines simple gameplay and classic graphics and sound with the studio’s much-loved “Book” free spins feature.

Activated whenever three or more of the iconic ‘Book’ symbols appear anywhere on the reels, players will first be prompted to leaf through the pages of an ancient tome until one icon is chosen at random to be the game’s lucky symbol, after which a series of 10 free spins will get underway.

During these bonus games, any instances of the lucky symbol that complete a payline will expand to fill their entire reel – and what’s more, payouts will be awarded for all winning combos regardless of whether the symbols are adjacent or not. On top of that, further free spins can be won for landing additional book symbols and players can even opt to buy into the feature directly.

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With Egypt King Book Hunt being available to play with 5 or 10 fixed paylines, players will be able to customise their experience to the level of variance that they’re most comfortable with and they’ll also have the chance to try and double any winnings they collect in an optional risk feature.

David Mann, Chief Executive Officer at Swintt, said: “The fact that the pyramids have stood for thousands of years is testament to them being a design classic – and we feel our Premium slots fall into much the same category! Combining iconic graphics and sound, intuitive gameplay and popular ‘Book’ free spins, we’re sure Egypt King Book Hunt will be a great addition.”

The post Swintt journeys back through the sands of time in Egypt King Book Hunt appeared first on European Gaming Industry News.

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7777 gaming partners with Relum

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Leading online casino game developer 7777 gaming has joined forces with Relum, a trusted casino engine, to deliver an unparalleled gaming experience to operators worldwide.

This collaboration enables 7777 gaming to bring its extensive portfolio of over 140 thrilling games to Relum’s network of esteemed operators across the globe. Through this integration, online casinos powered by Relum will gain instant access to 7777 gaming’s engaging and diverse selection of games, such as Cash 100, Barbarian, Candy Anyway, Sea of Treasure, Diamonds of Majesty, and Cash 20x. These immersive games promise an unparalleled gaming experience, combining cutting-edge technology with engaging narratives. .

Relum, a trusted name in the industry, has rapidly ascended to a leading position by developing a state-of-the-art casino aggregation platform. The platform provides instant access to a vast array of games, boasting over 20,000 titles from more than 240 content providers through a single API integration and toolbox such as free round, jackpots, tournaments and partner success service to support player engagement and revenue growth opportunities.

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Elena Shaterova, Chief Commercial Officer at 7777 gaming, shared her enthusiasm about the partnership: “Our goal at 7777 gaming has always been to set new standards in the gaming industry. Collaborating with Relum allows us to showcase our commitment to innovation and excellence. We look forward to a successful partnership that will satisfy the players’ requirements for next level of entertainment in any online casino.”

Ashot Sahakyan, Chief Operating Officer at Relum said: “Relum is committed to providing our operators with the most diverse and engaging content available in the market. 7777 gaming’s portfolio perfectly aligns with our vision, and we are confident that this partnership will elevate the gaming experience for our clients and their players.”

This partnership exemplifies the commitment of both 7777 gaming and Relum to delivering top-tier gaming solutions and reinforces their positions as leaders in the online casino industry.

The post 7777 gaming partners with Relum appeared first on European Gaming Industry News.

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Atlas-IAC Unveils Transformation to Atlaslive

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In May 2024, Atlas-IAC underwent a rebranding, resulting in a change of name and company design to Atlaslive, the dynamic iGaming platform. These changes were developed in collaboration with the Banda agency.

The main objective of the rebranding was to communicate the internal transformations as Atlaslive experiences rapid growth and continuous technological advancement, while also capturing the dynamic nature of the iGaming market.

In today’s world, technology is not stagnant; rather, it embodies an ongoing process of evolution that resonates with the dynamism of our surroundings. This philosophy underscores the transition from Atlas-IAC to Atlaslive. The best tech is — the more it looks alive. That’s why the company decided to embrace the concept of “live”. The descriptor of the company further reinforces this notion, emphasizing its evolution into a dynamic iGaming platform.

As a globally recognized leader in providing high-quality solutions for the iGaming industry, Atlaslive is set to redefine the landscape with its innovative technology and unwavering dedication to excellence. Maxim Slobodyanyuk, CEO of Atlaslive, said:

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We are thrilled to introduce Atlaslive. The best tech is live tech. The success of any tech is the quality of connections between people. Our tech is a living entity, not static code. Imagine technology that breathes with the world, evolves, expands, changes, reacts, and adapts to deliver the best results possible. All of this is embodied in Atlaslive.”

The company’s CEO added: “Our rebranding signifies a pivotal moment in our journey as we evolve alongside our global partners. Our strategy revolves around leadership in the iGaming industry, expanding our solutions to enhance the iGaming experience, making it more effective, profitable, responsible, and intelligent. Atlaslive is a dynamic iGaming platform that delivers unparalleled results and enriches every interaction.”

With a focus on trustworthiness, scalability, customization, adaptiveness, sustainability, and security, Atlaslive is poised to set new benchmarks in the iGaming industry and beyond. Experience the impulse of innovation with Atlaslive.

About the company

Atlaslive embarked on creating a multifunctional and automated platform designed to optimize the workflow of sports betting and casino operators. Opportunities  of the Atlaslive Platform include Sportsbook, Casino, Bonus Engine, Payment Systems, Risk management and Fraud Prevention tools, Retail module,  Business Analytics, CRM and CMS. Atlaslive is recognized as one of the leading  Sportsbook Platforms and the absolute winner in both the “Best Sports Betting Provider” and “Rising Star in Sports Betting Technology” categories for Central and Eastern Europe. Follow Atlaslive on LinkedIn to stay updated on the company’s latest news.

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The post Atlas-IAC Unveils Transformation to Atlaslive appeared first on European Gaming Industry News.

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