Industry News

Kambi Group plc Q4 Report 2019

Published

4 years ago

February 12, 2020

George Miller

Financial summary

Revenue amounted to €26.7 (21.7) million for the fourth quarter of 2019, and €92.3 (76.2) million for the period January to December 2019
Operating profit (EBIT) for the fourth quarter of 2019 was €6.2 (4.2) million, with a margin of 23.1% (19.2%), and €14.7 (12.7) million for the period January to December 2019, with a margin of 16.0% (16.7%)
Profit after Tax, including €0.5 million of impairment charges, amounted to €4.6 (3.3) million for the fourth quarter of 2019, and €10.4 (9.8) million for the period January to December 2019
Earnings per share for the fourth quarter of 2019 were €0.152 (0.110), and €0.345 (0.326) for the period January to December 2019
Cash flow from operating and investing activities (excluding working capital) amounted to €4.4 (2.8) million for the fourth quarter of 2019, and €8.6 (8.6) million for the period January to December 2019
The AGM will be held on 13 May 2020 at Kambi’s Stockholm office. The board has decided to propose that no dividend is paid out (2018: no dividend)

Key highlights

Strong financial performance with 23% year-on-year rise in Q4 revenue and 52% year-on-year increase in Q4 operator turnover, driven by further expansion into new US states and new customer launches
The quarterly performance contributed to full year 2019 revenue growth of 21% and an operator turnover increase of 37% compared to 2018
Signed Seneca Gaming Corporation in November and launched in all three of Seneca’s New York casinos in December
Launched with DraftKings and New Hampshire Lottery when going live online in New Hampshire in late December
A record 11 Kambi partners named in the prestigious EGR Power 50 ranking, which lists the industry’s most powerful operators

Kristian Nylén, Chief Executive Officer:

“I’m delighted to report another strong quarter for Kambi, which rounds off a year in which annual revenues grew by more than 20% and operator turnover by more than a third. Looking back on 2019, it was another great year for Kambi, as we continued to build out a fantastic sports betting product, expanded into multiple new markets, and signed six new partners, all of which leaves us in a great place for 2020.

In the previous report, I highlighted the momentum we could see building in operator turnover, and this trend continued in Q4 with each month delivering a greater number than the last. In total, Q4 operator turnover increased by 52% year-on-year and 36% sequentially – considerably higher volumes than Kambi has ever seen. While much of this growth was derived from our US partners, we also saw double-digit turnover growth in markets outside of the US, all of which contributed to strong revenue growth of 23%.

While the year was pleasing for many reasons, 2019 ended with news our partner DraftKings had entered into an agreement to acquire its own sports betting technology and therefore will no longer be dependent on Kambi. Our revenues from DraftKings are likely to be unaffected throughout 2020. I remain of the view that DraftKings’ long-term prospects would be better served with Kambi but also that this will increase the appeal of Kambi to an even greater level. We remain firmly committed to the US, where we have a diverse network of partners which have fantastic potential for growth, particularly as more states regulate.

We continue to prove that we are the sports betting partner operators can trust to deliver. In Q4, we launched in seven casinos and a variety of online sportsbooks across multiple jurisdictions. I’m particularly proud we were able to launch with our first US lottery, when going live in New Hampshire with DraftKings in December. I was also pleased to make our retail debut in South Africa when we launched the Kambi Sportsbook inside the Sun International-owned Grand West Casino in Cape Town.

I’ve spoken previously about the strengths of Kambi’s retail product and our ability to roll out at speed. These assets were both on display during Q4 when we successfully signed a new customer in Seneca Gaming Corporation and subsequently launched in its three New York casino properties within a matter of weeks. Seneca is a great customer signing for us. Not only is it an organisation which shares our values of trust and collaboration, but the fact it is owned by one of the most respected US Native American tribes ensures it is a partnership that will resonate within the tribal community nationwide.

The evolving nature of the sports betting industry means there will always be challenges to overcome but I know we have built a robust business with the capability and strength to withstand these pressures. We operate in a fast-growing market, one which continues to embrace regulation and will therefore present Kambi and our partners with exciting opportunities for many years to come. Be in no doubt Kambi is well positioned both in the US and globally and I look forward to a prosperous 2020.”

You are invited to participate in a report presentation at 10.45 (CET) with Kambi Group plc’s 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/12006

Numbers for participation in the telephone conference:

Dial-in number SE: +46850558368 UK: +443333009031 US: +18335268398

Link to the audiocast: https://tv.streamfabriken.com/kambi-group-q4-2019

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

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Industry News

Europe Sports Betting Market Size, Share & Trends Analysis Report 2024-2030 Featuring Bet365, William Hill, Betfair, Paddy Power, 888sport, Bwin, Unibet, Ladbrokes, MGM, and Betsson

Published

2 days ago

April 17, 2024

Peter Tolan

europe-sports-betting-market-size,-share-&-trends-analysis-report-2024-2030-featuring-bet365,-william-hill,-betfair,-paddy-power,-888sport,-bwin,-unibet,-ladbrokes,-mgm,-and-betsson

Reading Time: 3 minutes

The “Europe Sports Betting Market Size, Share & Trends Analysis Report by Type, Platform, Sports Type (Football, Basketball, Baseball, Horse Racing, Cricket, Hockey, Others), Country, and Segment Forecasts, 2024-2030” report has been added to ResearchAndMarkets.com’s offering.

The Europe sports betting market size is anticipated to reach USD 65.54 billion by 2030 and is expected to expand at a CAGR of 9.9% from 2024 to 2030

The globalization of sports and the integration of international leagues and tournaments into European betting markets have fueled the growth of sports betting. Major sporting events such as the FIFA World Cup, UEFA European Championship, Wimbledon, and the Olympics attract widespread attention and betting interest from European consumers, driving significant betting volumes and revenues for sports betting operators, thus driving the growth of the sports betting market in Europe.

The COVID-19 pandemic had a negative impact on the European sports betting market. The cancellation or postponement of sports events during the pandemic restrained the market growth. With major tournaments, leagues, and competitions either suspended or canceled outright, the absence of live sports events severely diminished consumer betting opportunities. It led to a significant decline in betting volumes and revenues for sports betting operators.

The presence of favorable betting policies in the region is driving the growth of the sports betting market in the region. Many European countries, such as the UK, Ireland, Denmark, and France, have progressive policies promoting a competitive and well-regulated betting market. It facilitates the entry of new operators into the market and encourages competition, leading to innovation, improved services, and better value for consumers.

Moreover, established responsible gambling initiatives and regulatory bodies in Europe, such as the European Gaming & Betting Association, help build trust and confidence among consumers by promoting responsible gambling practices, ensuring fairness and transparency in betting operations, and providing avenues for dispute resolution, to protect consumers and maintain the integrity of the betting market, thus driving the growth of sports betting market in the region.

Europe Sports Betting Market Report Highlights

Based on the type of betting, the fixed odd wagering segment accounted for the highest revenue share of 27.7% in 2023 due to the stability and predictability of the payouts
Based on platform, the online segment dominated the market in 2023 and is expected to grow at a significant CAGR from 2024 to 2030. It can be attributed to the collaborations between sports teams, leagues, and betting companies, thus increasing the visibility of sports betting and attracting a larger customer base.
In terms of sports type, the football segment accounted for the largest revenue share in 2023. It can be attributed to the popularity of football in Europe due to popular football clubs like Real Madrid, Liverpool FC, FC Barcelona, and Manchester United.
The UK held a significant share of 34.6% in 2023 and is expected to grow at a significant CAGR during the forecast period. Favorable gambling policies in the country drive the market’s growth.

Company Profiles

Bet365
Ali William Hill
Betfair
Paddy Power
888sport
Bwin
Unibet
Ladbrokes
MGM Resorts International
Betsson

Key Attributes:

Report Attribute	Details
No. of Pages	80
Forecast Period	2023 – 2030
Estimated Market Value (USD) in 2023	$33.75 Billion
Forecasted Market Value (USD) by 2030	$65.54 Billion
Compound Annual Growth Rate	9.9%
Regions Covered	Europe

Key Topics Covered:

Chapter 1. Methodology and Scope

Chapter 2. Executive Summary
2.1. Market Outlook
2.2. Segment Outlook
2.3. Competitive Insights

Chapter 3. Europe Sports Betting Market Variables, Trends & Scope
3.1. Market Lineage Outlook
3.1.1. Parent market outlook
3.1.2. Related/ancillary market outlook
3.2. Market Dynamics
3.2.1. Market driver analysis
3.2.1.1. Increasing number of sport events
3.2.1.2. Growing number of sporting events and leagues in Europe
3.2.2. Market restraint analysis
3.2.2.1. Lack of unified regulations
3.2.3. Market opportunity analysis
3.2.3.1. Growth in E-sports audience
3.3. Europe Sports Betting Market Analysis Tools
3.3.1. Industry Analysis – Porter’s
3.3.2. PESTEL Analysis

Chapter 4. Europe Sports Betting Market: Platform Estimates & Trend Analysis
4.1. Platform Market Share, 2023 & 2030
4.2. Segment Dashboard
4.3. Europe Sports Betting Market by Platform Outlook
4.4. Market Size & Forecasts and Trend Analyses, 2018 to 2030
4.4.1. Offline
4.4.2. Online

Chapter 5. Europe Sports Betting Market: Type Estimates & Trend Analysis
5.1. Type Market Share, 2023 & 2030
5.2. Segment Dashboard
5.3. Europe Sports Betting Market by Type Outlook
5.4. Market Size & Forecasts and Trend Analyses, 2018 to 2030
5.4.1. Fixed odds wagering
5.4.2. Exchange Betting
5.4.3. Live/In Play Betting
5.4.4. eSports Betting
5.4.5. Others

Chapter 6. Europe Sports Betting Market: Sports Type Estimates & Trend Analysis
6.1. Sports Type Market Share, 2023 & 2030
6.2. Segment Dashboard
6.3. Europe Sports Betting Market by Sports Type Outlook
6.4. Market Size & Forecasts and Trend Analyses, 2018 to 2030
6.4.1. Football
6.4.2. Basketball
6.4.3. Baseball
6.4.4. Horse Racing
6.4.5. Cricket
6.4.6. Hockey
6.4.7. Others

Chapter 7. Europe Sports Betting Market: Regional Estimates & Trend Analysis
7.1. Regional Market Share Analysis, 2023 & 2030
7.2. Regional Market Dashboard
7.3. Regional Market Snapshot
7.4. Market Size, & Forecasts Trend Analysis, 2018 to 2030
7.4.1. UK
7.4.2. Germany
7.4.3. France
7.4.4. Italy

Chapter 8. Competitive Landscape
8.1. Recent Developments & Impact Analysis, By Key Market Participants
8.2. Company/Competition Categorization
8.3. Vendor Landscape
8.3.1. List of key distributors and channel partners
8.3.2. Key customers
8.4. Company Profiles

For more information about this report visit researchandmarkets.com

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