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.
Angela Bernhard Thomas
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Industry News
Meridian Donate: Revolutionizing CSR in the Betting and Gaming Industry
- Innovative engagement strategy positions MeridianBet as a leader in CSR within the betting and gaming industry
- Optimized brand loyalty as active customer participation in CSR strengthens connection and loyalty
- Scalable impact, as the model is designed for expansion and could be adapted to new markets, indicating potential for widespread adoption and growth
Transforming Customers into Environmentalists and Humanitarians
MeridianBet’s pioneering initiative, Meridian Donate, is transforming the betting industry by engaging customers directly in corporate social responsibility (CSR) actions. This unique platform allows customers to actively participate in and fund various environmental, societal and humanitarian projects, setting a new standard for customer engagement and community impact.
Key Features of Meridian Donate:
- Direct customer involvement: Customers are not just donors but active participants in CSR decisions
- Diverse programs: Offers choices from global afforestation to local humanitarian efforts
- Partnerships with renowned organizations: Collaborates with entities like the Red Cross and UNICEF
Expanding Impact: A Year-by-Year Growth
The Meridian Donate platform has seen substantial growth in its scope and impact:
- Number of individual campaigns: Grew from 8 in 2021 to 20 in 2023
- National markets Integrated: Expanded from 3 in 2021 to 8 in 2023
- Direct Beneficiaries: Increased from 43 NGOs in 2021 to 159 in 2023
In 2023 alone, the platform’s expansion into eight markets facilitated 20 customer-funded campaigns, directly benefiting 159 NGOs, up from 122 the previous year.
Continued Commitment to Innovation and Community Involvement
Meridian Donate not only showcases MeridianBet’s dedication to CSR but also redefines the role of digital marketing within the industry. By converting sports bettors into active CSR participants, Meridian Donate enhances customer loyalty and brand value, making it a critical element of MeridianBet’s market strategy.
Recent Successes and Future Outlook
In its recent operation, Meridian Donate has launched an ambitious global afforestation initiative, committing to plant 20,000 seedlings across various regions. This project not only underscores our environmental commitment but also enhances our brand’s community presence. Already, several hundred contributions have been recorded in the platform’s first month, indicating robust customer engagement and support.
The post Meridian Donate: Revolutionizing CSR in the Betting and Gaming Industry appeared first on European Gaming Industry News.
Press Releases
Imagine Live Launches Casino Hold’em
Imagine Live proudly unveils its latest game addition – Casino Hold’em. This thrilling new game promises to elevate the poker experience for enthusiasts and novices alike, combining the excitement of traditional Texas Hold’em with the thrill of live casino action.
Casino Hold’em offers players a dynamic and immersive gaming experience. With sleek graphics, intuitive gameplay, and live dealers, players will feel seated at a high-stakes table in a world-class casino right from the comfort of their homes.
Key features of Casino Hold’em include:
Neon-lighting Studio: Casino Hold’em has a very inviting atmosphere. It features an elegant, well-designed studio with neon lighting that evokes a sophisticated gaming environment.
Captivating Gameplay: Stunning graphics and seamless gameplay transport players to the heart of the action.
Bonus Bet: In Casino Hold’em, players can place a Bonus bet alongside their initial Ante bet. Even if the Play bet is lost, the Bonus bet remains unaffected and can still be won if the specific hand criteria are met.
Multiplatform Compatibility: Enjoy Casino Hold’em on desktop, tablet, or mobile devices, allowing players to play anytime, anywhere.
“We’re thrilled to introduce Casino Hold’em to our players,” said Mikayel Aznauryan, Chief Product Officer at Imagine Live. “At Imagine Live, we’re committed to delivering premium gaming experiences, and Casino Hold’em is no exception. With its blend of live action, strategic gameplay, and neon design, we believe it will quickly become a favorite among poker enthusiasts worldwide.”
The post Imagine Live Launches Casino Hold’em appeared first on European Gaming Industry News.
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