Industry News

Kambi Group plc Q1 Report 2020

Published

5 years ago

April 24, 2020

George Miller

Reading Time: 3 minutes

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.

Prague Gaming & TECH Summit 2025 (25-26 March)

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

Affiliate Industry

Gamblorium Enhances Casino Reviews with Updated Rating System

Published

2 days ago

March 20, 2025

Niji Narayan

gamblorium-enhances-casino-reviews-with-updated-rating-system

Reading Time: < 1 minute

Gamblorium, a trusted online casino affiliate platform, announces its new and improved casino rating system. This updated system is designed to give players even more accurate and transparent rankings for online casinos. Since 2020, Gamblorium has been known for providing honest and expert-tested casino reviews. With this updated rating system, Gamblorium continues to ensure players can easily find the best gambling sites.

The new rating system combines three key components: Gamblorium Score, Player Score and Market Score. These scores are based on a 100-point scale, providing players with a clear and reliable way to choose casinos that meet their preferences.

Main features of Gamblorium’s new rating system:

• Gamblorium score: The Gamblorium Score evaluates casinos based on over 100 criteria, including payment methods, game options, security and user experience. Unlike other platforms, Gamblorium uses a relative and flexible approach, meaning casinos are ranked based on their strengths within their market. This score also incorporates Expert Scoring, ensuring that the most important factors are weighted appropriately.

• Player score: The Player Score is based on feedback from real users. Players can leave reviews only if they have registered or played at the casino, ensuring honest and up-to-date feedback. This makes the reviews highly reliable and reflective of the actual player experience.

• Market score: The Market Score helps balance the overall rating by considering the views of other trusted gambling platforms. This adds another layer of objectivity and ensures that Gamblorium’s reviews remain fair and unbiased.

The post Gamblorium Enhances Casino Reviews with Updated Rating System appeared first on European Gaming Industry News.

Asia

PAGCOR chief honored at 2025 Asia Gaming Award

Published

3 days ago

March 19, 2025

Adrienn Sarkany

pagcor-chief-honored-at-2025-asia-gaming-award

Reading Time: < 1 minute

Philippine Amusement and Gaming Corporation (PAGCOR) Chairman and CEO Alejandro H. Tengco received on Tuesday, March 18, the inaugural Regulatory Landmark Award during this year’s Asia Gaming Awards at the Grand Ballroom of Shangri-La, The Fort in Taguig.

The Regulatory Landmark Award, a newly added category to the prestigious Asia Gaming Awards, was bestowed upon the PAGCOR chief for his significant contributions to the growth of the Philippine gaming industry.

In his acceptance speech, Mr. Tengco acknowledged the efforts of the PAGCOR team and industry stakeholders, emphasizing that the recognition was a testament to their dedication, resilience, and commitment to regulatory excellence.

“This award reaffirms our efforts in fostering a well-regulated gaming sector in the Philippines,” he said. “It will serve as an inspiration for all of us to continue shaping an industry that is not only profitable but also ethical, sustainable, and beneficial to the communities we serve.”

Under Mr. Tengco’s leadership, the Philippine gaming industry posted a record-breaking gross gaming revenue (GGR) of Php410 billion in 2024 – a 25% increase from the previous year’s GGR.

Likewise, PAGCOR recorded unprecedented revenues of Php112 billion in 2024, a 41% growth year-on-year.

The Asia Gaming Awards, now on its fifth year, recognizes the achievements of key players and leaders in the gaming industry across the region.

The post PAGCOR chief honored at 2025 Asia Gaming Award appeared first on European Gaming Industry News.

Industry News

Gaming industry earns Php410 B despite POGO ban – PAGCOR

Published

3 days ago

March 18, 2025

Peter Tolan

gaming-industry-earns-php410-b-despite-pogo-ban-–-pagcor

Reading Time: 2 minutes

Despite the implemented ban on Philippine Offshore Gaming Operations (POGO), the gaming industry in the country continues to boom, according to Philippine Amusement and Gaming Corporation (PAGCOR) Chairman and CEO Alejandro H. Tengco.

In his keynote address at the ASEAN Gaming Summit in Manila, Tengco said the country’s Gross Gaming Revenue (GGR) will rise to Php410 billion in 2024, up 25% from the Php329 billion GGR in 2023.

“As offshore gaming exits, PAGCOR recognizes that the future of Philippine gaming will continue to become more technology-driven,” he said. “This is why PAGCOR will continue to closely regulate electronic gaming while ensuring strict oversight to combat illegal operators.”

The PAGCOR chairman emphasized that while land-based casinos contributed Php201 billion—almost half of the total GGR in 2024—revenue from the E-Games and E-Bingo sector grew significantly, grossing Php154.51 billion, 165% higher than in 2023.

“We partly attribute the strong performance of the local gaming industry to the strategic policy adjustments that we have implemented, such as the gradual reduction of fee rates for E-Games since 2023,” Tengco’s explanation.

He said that in 2023, PAGCOR was charging 50% to 55% license fees which was an obstacle to the increase in operators. “But effective January 1, 2025, our fee rates for E-Games stand at only 30% of GGR,” he added.

As a result, more operators have come under regulation, voluntary closures of businesses have been avoided, and the profits of licensed companies have been maintained. Also as a result of the said reforms, the E-Games sector reached its target of Php100 billion in GGR revenue as early as September 2024. Tengco also mentioned PAGCOR’s focus on more intensified “responsible gaming programs” to promote a “more sustainable and ethical gaming industry.”

“We wish to assure our industry stakeholders that even as we strive for greater success, responsible gaming and market integrity will continue to be at the heart of our efforts,” Tengco said.

The PAGCOR chief is also fully confident in the direction of the industry.

“The best days of Philippine gaming are still ahead of us, and we look forward to working with all of you to shape what comes next,” he said.

The ASEAN Gaming Summit, organized by Asian Gaming Brief, serves as a platform for industry leaders to discuss trends, challenges and new opportunities in the region’s gaming landscape.

Translated article.

The post Gaming industry earns Php410 B despite POGO ban – PAGCOR appeared first on European Gaming Industry News.