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Kambi Group plc Q1 Report 2023
Financial summary
- Revenue amounted to €44.0 (Q1 2022: 36.9) million for the first quarter of 2023
- Operating profit (EBIT) for the first quarter of 2023 was €4.5 (7.3) million, at a margin of 10.3% (19.9%), which was impacted by certain non-recurring costs
- EBITA (acq)* for the first quarter of 2023 was €5.8 (7.7) million, at a margin of 13.1% (20.8%)
- Cash flow (excluding working capital and M&A) amounted to €3.2 (5.5) million for the first quarter of 2023
- Earnings per share for the first quarter of 2023 were €0.107 (0.178)
- The 2023 AGM will be held on 11 May 2023. The Board proposes that no dividend is paid out.
- The Board of Directors decided on 19 January 2023 to adopt long-term financial targets in line with Kambi’s strategic vision
*EBITA (acq) = Earnings before interest, taxation and amortisation on acquired intangible assets
Key Q1 highlights
- Operator turnover and revenue growth of 12% and 19% year-on-year respectively, driven by existing partners and launches into new US states
- Partnership extensions signed with Rush Street Interactive and Corredor Empresarial S.A., two of Kambi’s most strategically important partners
- Successful Super Bowl and March Madness tournament with increased player activity alongside unblemished service delivery
- AI-driven algorithmic trading capability rolled out to major European soccer leagues and other key competitions leading to improved product and greater operational efficiencies
“The first quarter was another busy period for Kambi including new market launches in the Americas, the expansion of Kambi’s partner network and a full sporting calendar. These events helped drive a 12% year-on-year increase in operator turnover and a 19% rise in revenue to €44 million. EBITA (acq) was €5.8 million, impacted by a number of factors including foreign exchange movements and one-off costs to improve future efficiency.
The business hit several important commercial milestones in Q1 as we continue to make significant progress with the key growth drivers detailed at our Capital Markets Day earlier this year. Among these drivers is to extend key partnerships, and I was delighted to secure renewals during the quarter with two of our largest partners in Rush Street Interactive, one of the leading operators in the Americas, and BetPlay owner Corredor Empresarial S.A. which is the market leader in Colombia with plans to expand across Latin America.
Latin America is a region of significant long-term potential for Kambi and will become increasingly integral as we look to extend our lead as the number one supplier across the Americas. Kambi already has a strong foothold in some of the region’s most established sports betting markets such as Colombia and Argentina, and recent public announcements from the Brazilian government show positive signs that regulation of sports betting in Brazil is edging nearer in what is projected to become one of the world’s largest regulated markets.
From a product perspective, Kambi’s expanding AI-driven trading capability is a core component of our vision to redefine what’s possible in sports betting. After a successful roll-out for the soccer World Cup in Q4, this industry-leading method of automated pricing, which blends machine learning with vast amounts of data, was extended to all top European domestic soccer leagues, as well as the Champions League and Europa League. As a result, we can now create more bet offers at a faster delivery speed than the rest of the market, as well as deliver a richer Bet Builder, leading to both a better product and greater efficiencies for the business.
In short, we remain steadfast in our commitment to setting a new standard for sports betting and to pioneer next generation entertainment that eliminates friction and creates new innovative betting options for operators. The road towards our long-term financial targets won’t be linear, but we are carefully putting in place the fundamentals which will enable us to accelerate as we progress. With a market-leading sportsbook that continues to remove product boundaries, a strong sales pipeline and the prospect of further regulation in key markets, I look forward to updating the market over the coming quarters.”

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Internet Vikings and SB Software Partnership Transforms Infrastructure Performance for iGaming Operator Editec
Internet Vikings, a licensed hosting provider for the European and U.S. iGaming and online sports betting industry, and SB Software a B2B provider of iGaming platforms, share the success of their partnership in transforming performance outcomes for Editec, a multinational gaming operator serving over 20 countries and operating among others such brands as: PremierBetZone, PremierLotoZone, ZoneGold, etc.
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As Editec was growing dynamically, it required the implementation of the best available server solution. Simply adding storage was inefficient, creating persistent bottlenecks that threatened the operator’s expansion plans and the quality of the user experience.
The Turning Point: Purpose-Built iGaming Infrastructure
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Measurable Results Across Multiple Markets
The partnership has delivered significant improvements across Editec’s operations:
Performance Enhancement: Virtual machines now handle peak loads without degradation, supporting seamless user experiences during high-traffic periods.
Operational Efficiency: Unified back-office management across all 20+ countries, with multi-language and multi-currency support, custom loyalty programs, and specialized odds management.
Scalable Architecture: Infrastructure designed to support continued growth and market expansion without performance compromise.
“SB Software’s flexibility in tailoring solutions to our business requirements has been exceptional,” added the Editec spokesperson. “Combined with Internet Vikings’ hosting expertise, we now have a technology foundation that can scale with the platform and our ambitions.”
Industry Implications
The successful partnership demonstrates the value of specialized providers in the iGaming sector, where standard hosting solutions often fall short of industry-specific performance requirements. “This collaboration shows how purpose-built infrastructure and flexible platform solutions can transform operational outcomes,” said Rickard Vikström, CEO and Founder of Internet Vikings. “When hosting providers truly understand iGaming demands, operators can focus on growth rather than technical limitations.”
For iGaming operators looking for a powerful and scalable platform supported by a hosting provider that truly feels the industry, the Editec–SB Software–Internet Vikings story shows a clear blueprint of an alliance for success.
The post Internet Vikings and SB Software Partnership Transforms Infrastructure Performance for iGaming Operator Editec appeared first on European Gaming Industry News.
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Amusnet has partnered with efbet Greece to strengthen its presence in the local market and deliver a premium gaming experience to Greek players. The collaboration is now live and brings a wide selection of Amusnet’s top-performing titles to efbet’s platform, marking another important step in the company’s strategic growth across regulated European markets.
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“We are excited to welcome Amusnet to our growing portfolio of gaming providers at efbet.gr. This partnership marks another important step in enhancing our casino offering and delivering even more value to our players in Greece. By integrating Amusnet’s popular titles, we continue to strengthen our position in the market and reaffirm our commitment to quality and entertainment – a move fully aligned with our long-term strategy,” the Senior Management from efbet noted.
This collaboration underscores Amusnet’s commitment to excellence and reflects its ongoing strategy of forging impactful partnerships with top-tier operators in regulated markets, ensuring sustained growth and enhanced player experience.
The post Аmusnet Enters into Strategic Partnership with efbet appeared first on European Gaming Industry News.
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A Powerful Alliance for Global Expansion
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Elevating Game Selection and Performance
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Zitro’s titles are now live and accessible across Torrero’s network. This partnership underscores both companies’ commitment to innovation, player engagement, and leadership in key evolving markets across Latin America and Europe, serving established operators such as betmaster.com.mx, betmaster.com, betmaster.ie, casinoin.ie, betmaster.ee, casinoin.ee and betmaster.eu
The post ZITRO DIGITAL AND TORRERO ANNOUNCE STRATEGIC PARTNERSHIP appeared first on European Gaming Industry News.
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