Industry News
Kambi Group plc Q1 Report 2020
Financial summary
- Revenue amounted to €27.9 (Q1 2019: 21.0) million for the first quarter of 2020, an increase of 33%
- Operating profit (EBIT) for the first quarter of 2020 was €6.8 (2.6) million, with a margin of 24.5% (12.4%)
- Profit after Tax amounted to €4.8 (2.0) million for the first quarter of 2020
- Earnings per share for the first quarter of 2020 were €0.156 (0.066)
- Cash flow from operating and investing activities (excluding working capital movements) amounted to €4.1 (1.1) million for the first quarter of 2020
Key highlights
- Strong financial performance with 33% year-on-year rise in Q1 revenue and 27% year-on-year increase in Q1 operator turnover, despite reduced sports schedule from 12 March 2020
- Average daily operator turnover to 12 March 2020 up 47% on the comparative period in Q1 2019 and up 7% on the comparative period in Q4 2019
- Multiple partner launches, including taking the first legal sports bets in the US states of Illinois and Michigan, further demonstrating Kambi’s regulatory and operational excellence
“The coronavirus pandemic is having a major impact on people’s lives and livelihoods and represents a global challenge of the like we have never faced before. Industries of all kinds have been affected and interrupted, with our own sports betting industry no exception.
The sports calendar has been stripped bare across the world, with major leagues and events being cancelled or postponed, quite rightly, until safety can be guaranteed. And while I have no doubt sports will return, the current situation has understandably led to a reduction in our revenues, although our teams have done a wonderful job to stem the flow and ensure our partners have a good product to sell. In the final weeks of Q1 and early Q2, we have been running at approximately 25-30% of previous levels in Q1, despite our increasingly material retail business being all but closed.
Despite the much lighter sporting calendar during the latter weeks of the first quarter, Kambi posted strong growth numbers. Operator turnover for the period was up 27% while our revenue increased by a third to €27.9m. EBIT was €6.8m, and we ended Q1 with a cash balance of €46.3m, a sum which will help us withstand the worst-case scenario: an extended period without major sports.
It’s worth highlighting the momentum we had built before the pandemic began to make its presence felt on the sporting calendar. Up to and including 12 March, Kambi’s average daily operator turnover in Q1 was up 47% on the respective period in Q1 2019, and on track to eclipse our record operator turnover of the previous quarter, with it ahead 7% on the comparative period in Q4 2019, despite fewer American football fixtures due to the season’s end.
Furthermore, on 9 and 11 March we processed the first legal bets in the states of Illinois and Michigan respectively. This continued our fantastic performance of getting partners to market quickly with a high quality and compliant sports betting service. To illustrate, Kambi is now active in 10 US states, achieving market firsts on eight occasions. In addition, we recently received our licence for the state of Colorado, where we expect to go live soon.
As announced earlier this month, we introduced a major cost saving programme, to which our staff have readily adapted. I must thank our people for the resilience they have shown during this difficult period. I feel proud of their commitment to our partners to deliver a quality service under the circumstances.
We owe it to our all our employees, partners and investors to ensure we are in the strongest position possible to pick up where we left off when sports do resume, and we enter what promises to be a prolonged period of busy sporting action. I’m confident the cost saving measures we’ve introduced in recent weeks, our strong balance sheet, and the flexibility we have retained to be back running at 100% capacity almost immediately, will ensure we are able to do so, alongside our fantastic partners.
So even though our momentum has been slowed by the unfortunate events of recent months, the decisions we have taken see us well placed to move through the gears as soon as the virus is under control and major sports return. There are positive signs some leagues and tours may resume before or during the summer, albeit behind closed doors, and when they do, we’ll be ready.”
You are invited to participate in a report presentation at 10.45 (CEST) 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/12433
Numbers for participation in the telephone conference:
Dial-in number SE: +46850558369 UK: +443333009262 US: +18338230589
Link to the audiocast: https://tv.streamfabriken.com/kambi-group-q1-2020
Link to report page: https://www.kambi.com/investors/financial-reports-and-presentations/quarterly-reports
Evoke, one of the world’s leading betting and gaming companies with internationally renowned brands including William Hill, 888 and Mr Green, announced the establishment of a new Technology Committee of the Board effective immediately.
The Committee will be chaired by Independent Non-Executive Director Susan Standiford. Non-executive Directors Limor Ganot and Ori Shaked will also be members of the Committee.
The Committee will provide Board-level oversight of evoke’s major technology investments and initiatives, ensuring alignment with business strategy, risk management and operational effectiveness.
Jon Mendelsohn, Chairman of evoke, said: “In a world where technology is evolving at break-neck speed and in an industry where technology leadership is a core driver of sustainable success, our Technology Committee will play an important role in strengthening the Board’s governance and long-term strategy development. The Committee will focus on providing transparency and insight across our product, technology, data and operational initiatives as well as informing the Board and executive leadership on technology trends with the potential to shape the Group’s long-term competitive advantages.”
The post Evoke Announces the Establishment of a New Technology Committee appeared first on European Gaming Industry News.
Welcome to our weekly roundup of American gambling news again! Here, we are going through the weekly highlights of the American gambling industry which include the latest news and new partnerships. Read on and get updated.
Latest News
Seminole Hard Rock Hotel & Casino Tampa has been named the luckiest casino in the US according to a recent study conducted by Casinos.com. The resort claimed the top spot based on an in-depth analysis of Tripadvisor reviews, measuring the frequency of luck-related keyword mentions. With a 25.49% luck rate, Seminole Hard Rock Tampa topped the list thanks to glowing guest feedback, including frequent mentions of jackpots, hand pays and bonus wins. 50 reviews mentioned the word “jackpot,” and 19 even referenced a “hand pay.” Casinos.com tracked keywords such as lucky, luck, won, winning, success, jackpot, hand pay, winner, bonus, profit to determine which U.S. casinos inspired the most winning moments among visitors.
The Missouri Gaming Commission has announced that it has officially begun accepting applications for sports betting license. The Commission made the announcement following the unanimous approval of a resolution drafted Tuesday that approved the licensing process. The resolution passed after Gov. Mike Kehoe’s office reviewed it. The licensing period opens roughly six months after Missouri voters narrowly approved a constitutional amendment legalising sports betting. The measure passed by less than half a percentage point, with a margin of less than 7500 votes.
Underdog Fantasy has relaunched its draft-style daily fantasy sports (DFS) games in New York, nearly two months after it withdrew all of its DFS competitions from the Empire State. The decision to withdraw all DFS contests from New York in March came after a ruling from the New York State Gaming Commission in which the commission determined Underdog was not in line with the state’s current DFS law. An Underdog Fantasy spokesperson confirmed the company is still working under a temporary license. The New York State Gaming Commission agreed to allow the company to offer its draft DFS games with the temporary license. Most DFS companies in New York operate with a temporary license.
New Partnerships
Pollard Banknote Limited has congratulated the West Virginia Lottery on the successful launch of Royal Court Riches, its first eInstant game from the Pollard Digital Games Studio. Royal Court Riches has already demonstrated strong performance in multiple markets—in its first international launch, it achieved that jurisdiction’s highest tickets sold, total sales and gross gaming revenue within its first 30 days of release. Royal Court Riches is the first in a series of games from the Pollard Digital Games Studio slated to launch in West Virginia this year.
SYNOT Games has announced a new partnership with Caliente, one of Mexico’s top gaming platforms. This collaboration marks an exciting expansion for SYNOT Games, as it brings its acclaimed portfolio of gaming content to the Mexican market. It enhances Caliente’s offerings with an extensive array of high-quality slot games such as Respin Joker, Book of Secrets, Realm of Lions and Forest Maiden, designed to captivate players and boost engagement. Caliente with its strong presence in Latin America, is the perfect partner for SYNOT Games’ expansion into the region. The partnership aims to deliver an exceptional gaming experience, combining SYNOT’s visually rich, innovative games with Caliente’s extensive reach and reputation.
The post Gaming Americas Weekly Roundup – May 19-25 appeared first on European Gaming Industry News.
Industry Awards
Betsson Group Nominated in 14 Categories at the Women in Gaming Diversity Awards 2025
Betsson Group has been nominated in 14 categories at the Women in Gaming Diversity & Employee Wellbeing Awards 2025, hosted by Clever Duck Media. These include five company-wide nominations and nine individual nominations for eight of its employees.
These annual awards celebrate excellence in equality, diversity, inclusion and employee wellbeing across the global gaming industry. Since its launch in 2010, the event has solidified its position as one of the global gaming industry’s most respected diversity accolades.
The categories in which Betsson Group and its employees have been shortlisted include:
Company Category Nominations:
Best Diverse Place to Work
Community Engagement
Company of the Year (Operator)
Diversity & Inclusion
Great Place to Work Award
Individual Category Nominations:
Affiliate Leader – Shakyra Jonsson
Employee of the Year (Operator) – Lisa Mifsud
Excellence in Customer Service – Gabriella Larsson
HR Champion (Operator) – Tamara Klibadze
Innovator – Lena Nordin
Inspiration of the Year (Operator) – Lena Nordin
Positive Role Model of the Year (Operator) – Lara Lombardi
Star of the Future (Operator) – Jessica Carrillo Miranda
Young Leader of the Year (Operator) – Chellyanne Cassar
These nominations reflect the company’s ongoing dedication to creating a workplace where employees feel valued, respected and empowered to succeed. At Betsson Group, diversity, equity and inclusion are more than buzzwords; they are embedded in the company’s culture, values and daily actions. In previous years, Betsson has been recognised at the WiG Diversity Awards for Best Diverse Place to Work (2022 and 2024), Company of the Year (2019 and 2022) and for Diversity & Inclusion (2021). For the individual categories, Betsson employees have previously won Excellence in Customer Service, Star of the Future and Young Leader of the Year.
The post Betsson Group Nominated in 14 Categories at the Women in Gaming Diversity Awards 2025 appeared first on European Gaming Industry News.
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