Press Releases
Kambi Group plc Q1 Report 2024
Financial summary
- Revenue amounted to €43.2 (Q1 2023: 44.0) million for the first quarter of 2024
- Operating profit (EBIT) for the first quarter of 2024 was €4.4 (4.5) million, at a margin of 10.2% (10.3%)
- EBITA (acq)* for the first quarter of 2024 was 5.8 (5.8) million, at a margin of 13.3% (13.1%)
- Cash flow (excluding working capital and M&A) amounted to €5.4 (3.2) million for the first quarter of 2024
- Earnings per share for the first quarter of 2024 were €0.107 (0.107)
- The 2024 AGM will be held on 21 May 2024. The Board proposes that no dividend is paid out.
*EBITA (acq) = Earnings before interest, taxation and amortisation on acquired intangible assets
Key highlights
- AI trading division Tzeract to provide European operator kwiff with its market-leading Bet Builder product in first commercial partnership
- Extended retail sportsbook partnership with Penn Entertainment until 31 December 2025, replacing previous agreement which was set to end July 2024
- Launched LiveScore Group’s Kambi-powered sportsbook in Nigeria, followed by a launch in the Netherlands after quarter end ahead of a wider rollout before Euro 2024
- Continued development of open platform and trading gateway with integration of Inspired Entertainment’s virtual sports offering and preparation of external odds feeds provision
- Completed the third share buyback programme and announced a further share buyback programme running from 18 March to 20 May, up to a total of €4.0 million
- In January, Kambi’s CEO and Co-founder Kristian Nylén notified the Board of his intention to step down from his current position once a successor is in place
CEO comment
“For the first quarter of the year we posted revenue of €43.2 million, which was in line with our expectations, while expenses were at the lower end of our guidance at €39.0 million.
A key highlight of the quarter was the launch of LiveScore Group’s new Kambi-powered sportsbook in Nigeria, followed swiftly by a launch in the Netherlands. LiveScore was a pivotal signing for Kambi in 2023 and these launches mark crucial milestones toward our long-term objectives. We look forward to additional launches in the near future, including in its core UK market, ahead of a busy summer of sports with Euro 2024 and Copa América both set to commence in June.
The important signing of LiveScore, as well as other key 2023 partner signings, were partly dependent on us delivering on certain product requirements. As part of these product deliveries, we have been integrating external content into the Kambi platform, enabling operators to enhance their offerings and deliver even greater product differentiation. In Q1, for example, we integrated virtual sports, an important and complementary vertical to sports betting, while more recently we enlisted a third party to strengthen our horse racing product. With these deliveries we strengthen our flexible and high quality solution for partners.
Having made great strides on opening up our platform to deliver on these partner requirements, we are now picking up the pace with modularisation. This sharpened focus means we are preparing to provide modular Kambi odds feeds to those operating on their own technology and outside of our network. This means operators can, via a single API integration, access our full suite of sports odds, including those powered by Tzeract and Abios, enabling them to select their desired mix of sports, events and product types from a single source. Our market research shows demand for such a flexible and powerful solution, with operators today having to integrate with multiple suppliers with varying degrees of quality.
As part of our ongoing modularisation strategy, yesterday we announced Tzeract’s first commercial agreement since launching as a standalone division. Partnering with kwiff to provide its leading Bet Builder product will enable Tzeract to demonstrate the quality of its product via an operator outside of the Kambi network for the first time, an important milestone in the division’s progress.
In summary, we have continued to build solid foundations for the future. Our commitment to pushing the boundaries of product excellence and innovation, as highlighted by the development of our modular odds feeds, is positioning Kambi as a leader in shaping the future of sports betting technology.”
You are invited to participate in a web presentation at 10.45 CEST with Kambi Group plc’s CEO Kristian Nylén and CFO David Kenyon. The presentation will be held in English and can be accessed using the link below. After the presentation there will be the opportunity to ask questions.
The post Kambi Group plc Q1 Report 2024 appeared first on European Gaming Industry News.
Leading sportsbook provider grows US sports offering with addition of in-play Bet Builders and expanded prop betting
Altenar has expanded its portfolio of US sports by adding more Major League Baseball (MLB) content for the 2025 season.
As part of the enhancement, Altenar has added in-play Bet Builders to allow live betting during MLB games, offering operators the chance to benefit from a surge in the bet type’s popularity. There is also an expanded range of prop betting available on both pre-match and live games, with a vast range of odds now offered on player, team and game props.
Altenar already offers fast markets and micro-betting options, along with same-game parlays, player specials and pitcher lines for the popular league.
An official distributor of MLB data since 2019, Swish Analytics delivers rich, reliable and fast information that enables the development of highly engaging user markets, which are now available to Altenar’s operator partners.
These additions reinforce Altenar’s commitment to delivering relevant and tailored content for US-facing partners, while continually striving for excellence as a sportsbook provider.
Antonis Karakousis, Director of Operations at Altenar, said: “Altenar is driving innovation in US sports by pushing the boundaries of what is possible with our offering. We will continue to grow our presence in this vertical and ensure that our full suite of pre-match, in-play, and at-bat betting products defines the next generation of engagement for our operators’ MLB fans.
“In addition to the above, the development of our MLB Live Bet Builder is another strong statement that reflects our commitment to listening to users’ needs. Enhancing the Bet Builder experience remains a key focus and a central part of our product strategy.”
Altenar will showcase its enhanced terminal at SBC Summit Americas 2025 from May 13–15. Attendees can visit the stand or book a demo to explore the terminal’s new capabilities first-hand here.
The post Altenar extends Major League Baseball coverage appeared first on Gaming and Gambling Industry in the Americas.
Playzia, a rapidly growing force in the iGaming industry, is excited to announce a strategic partnership with Novibet, a leading international operator. This collaboration significantly extends Playzia’s footprint in the regulated Greek market and other key regions where Novibet operates.
The expansion marks another milestone in Playzia’s commitment to regulated markets, as it continues to broaden its reach while reinforcing its position as an innovator in the iGaming sector.
As part of this agreement, Novibet players will now have access to Playzia’s extensive and engaging catalog of in-house developed games. The lineup includes fan-favorites such as Billionaire Rhino and Cosmos Cash, as well as recent top-performing releases Medusa Mystic Reels Megaways™, Zeus’s Thunderstrike, and T-Rex Treasure Hunt Megaways™. With focus on innovation, Playzia continues to introduce groundbreaking game mechanics such as Hold and Win & Hold and Win Jackpot, Retrigger & Stacked Wilds in Free Spins, Bonus Hold and Win, Persistent Collection & 50 Symbols, and its highly anticipated Love Island content.
Vlad Modorcea, CPO at Playzia, shared his thoughts on the partnership: “Teaming up with Novibet is a significant milestone for Playzia as we continue to grow our presence in regulated markets. Novibet has a stellar reputation for delivering top-tier gaming experiences, making them an ideal partner for us. We are eager to see players engaging with our games and experiencing the unique entertainment Playzia brings to the table.”
Foteini Matthaiou, Casino Product & CRM Director at Novibet commented: “At Novibet, we are committed to elevating the player experience through strategic alliances. Welcoming Playzia’s dynamic game portfolio is a natural next step in delivering innovative, high-quality content that resonates with our players in Greece and beyond.”
This latest agreement further strengthens Playzia’s standing as a premier game supplier, offering a diverse mix of game formats, including crash, table, instant, and probability-based games. With an exciting roadmap ahead, players can look forward to innovative features, engaging gameplay, and thrilling jackpot opportunities.
The announcement follows Playzia’s recent nomination in two key categories at the prestigious EGR B2B Awards 2025: Slot Supplier (Under 5 Years) and Software Rising Star, further underscoring the company’s momentum and industry recognition.
Playzia is also making waves in the branded content space. The company has secured an exclusive content partnership with ITV, the UK’s leading commercial broadcaster, to develop online games inspired by the global phenomenon Love Island. This upcoming series will blend the excitement of reality TV with Playzia’s signature gaming innovations.
The post Playzia Strengthens Presence in Regulated Markets Through Strategic Partnership with Novibet appeared first on European Gaming Industry News.
Relax Gaming, the iGaming aggregator and supplier of award-winning content, has raised the temperature of its record-breaking Dream Drop Jackpot by introducing Daily Jackpots across the entire network.
The latest evolution of the red-hot jackpot product will see players benefit from three guaranteed Daily Jackpots every day, adding a fresh layer of excitement and more frequent must-drop moments.
Alongside this, the Mega Jackpot has been fine-tuned with an adjusted must-drop value, delivering a smoother, more engaging jackpot experience.
This network-wide update applies to all Dream Drop titles, including the highly anticipated release of Bonsai Dragon Blitz Dream Drop, which arrives on 21st May 2025.
Launched in 2022, the Dream Drop Jackpot has already created millions of euros in prizes across more than 20 lucky Mega Jackpot winners. Today’s update marks the next stage in its evolution, offering players the same beloved product with a hotter-than-ever format.
Alastair Smith, Jackpot Business Owner at Relax Gaming, said: “We’ve listened to player and partner feedback and turned up the heat with a new twist on Dream Drop. The introduction of Daily Jackpots ensures excitement at all hours of the day and builds on what makes Dream Drop the most thrilling jackpot experience on the market.”
Martin Stålros, CEO at Relax Gaming, added: “Dream Drop has revolutionised jackpots since day one, and we’re not slowing down. With Daily Jackpots added into the mix, we’re delivering more value, more often, while continuing to lead the way in jackpot innovation. This is a natural next step for a product that’s all about pushing boundaries.”
The Dream Drop Jackpot is available across the Relax Gaming portfolio, with smash-hit titles such as Temple Tumble 2, Wild Chapo 2 Dream Drop, The Great Pigsby Dream Drop, and the upcoming Bonsai Dragon Blitz Dream Drop all boasting access to its six-tiered prize pool.
The post Relax Gaming adds fast-paced Daily Jackpots to its Dream Drop network appeared first on European Gaming Industry News.
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