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Kambi Group plc Q2 2025 Report

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“Q2 2025 proved to be a quarter that reflected both the resilience of our business and the evolving dynamics of our industry” says Werner Becher, CEO of Kambi Group

Financial highlights

  • Revenue in the second quarter totalled €40.5m (45.7m), a decrease of 11.5%. Excluding the €4.5m of transition fees received in Q2 2024, revenues decreased by 2.0%. For the first half of 2025 revenues were €81.9m (88.9m), a decrease of 7.9%. Excluding €8.9m of transition fees received in H1 2024, revenues increased by 2.3%.
  • Adjusted EBITA (acq) in the quarter was €3.7m (7.5m), at a margin of 9.2% (16.4%). For the first half of 2025, adjusted EBITA (acq) was €6.0m (13.3m), at a margin of 7.4% (14.9%), and €7.2m (13.3m) excluding the impact of FX revaluations, almost entirely from the first quarter 2025.
  • Total expenses were €38.1m (39.6m) in the quarter, a decrease of 3.8%. For the first half of 2025, total expenses were €78.6m (78.4m) including an FX revaluation loss of €1.2m (0.01m).
  • Operating profit was €1.6m (6.2m), at a margin of 4.0% (13.5%) for the second quarter and €2.4m (10.6m), at a margin of 2.9% (11.9%) for the first half of 2025.
  • Cash flow (excluding working capital and M&A) amounted to €1.3m (8.1m) for the quarter and €9.0m (13.5m) for the first half of 2025.
  • Earnings per share for the second quarter of 2025 were €0.009 (0.155) and €0.036 (0.260) for the first half of 2025.

Key operational highlights

  • Agreed two-year Turnkey Sportsbook extension and new Odds Feed+ agreement with LeoVegas Group.
  • Signed Turnkey Sportsbook partnership with RedCap in Latin America, continuing Kambi’s expansion in the region.
  • Following Kambi’s EGM, the Board initiated two consecutive share buyback programmes with a total value of SEK 165m (€15m) which will run until 21 November 2025. This is Kambi’s largest share buyback to date.

CEO comment
“Q2 2025 proved to be a quarter that reflected both the resilience of our business and the evolving dynamics of our industry. While results were in line with our expectations, they came against a backdrop of challenging market conditions and tough comparisons with Q2 2024.

Last year’s quarter benefited from the uplift of the Euros and Copa América and included the last full quarter of transition fees from Penn Entertainment. Meanwhile, challenging dynamics include foreign exchange movements and regulatory and tax headwinds, such as deposit limits in the Netherlands and Colombia’s VAT, which continue to affect performance.

Operator trading margin was 11.5% for the quarter, above our long-term expected range of 9.5–11.0%, as we continued to see strong engagement with our market-leading Bet Builder, which is a higher margin, lower staking product. Despite these impacts, Q2 was a period of solid operational progress across various areas of the business. Additionally, the continuation of our 2025 efficiency programme can now start to be seen in our cost base and will continue to drive increased leverage throughout the year.

From a commercial perspective, we were delighted to extend our partnership with LeoVegas Group through a new two-year Turnkey Sportsbook agreement. We also expanded this relationship through an Odds Feed+ deal, with LeoVegas becoming our fourth partner since launching the product in Q3 2024. While Turnkey partner churn is an inevitable part of the business, it is encouraging to see our product portfolio evolving in ways that now enable us to retain partners through our more extensive product offering.

We continue to diversify our revenue base, illustrated not only by the Odds Feed+ deal but the recent Turnkey Sportsbook signing of RedCap in Latin America, expanding our reach in the region. RedCap will initially launch its Betpro and Starplay brands online in Panama and El Salvador, with scope to expand into retail and additional markets in the future. RedCap will be transitioning from a competing supplier, underlining our position as the home of premium sports betting solutions.

Our esports betting product, powered by our Abios division, is also becoming an increasingly important part of our product offering. Esports via the Turnkey continues to grow in popularity and in Q2 was the fifth largest ‘sport’ across the global network based on turnover. We believe we have a leading esports product, one that’s not only proving its worth on the Turnkey but is fast becoming a unique selling point for our Odds Feed+ product, with few operators possessing this capability in-house.

While the first half of the year played out broadly as expected, I want to reiterate that I am not satisfied with where we are at today, with my ambition for the business being far greater. Looking ahead to the rest of the year, the external environment will continue to pose challenges, but I remain optimistic that we can increasingly deliver value for our partners, expand our partner network, strengthen our product portfolio and position the business for long-term, sustainable growth.”

Invitation to presentation of the report
Kambi invites analysts, investors, and media to a presentation of the report at 10.00 CEST on Wednesday 23 July.
The presentation will be held in English by Kambi’s CEO Werner Becher and CFO David Kenyon and can be accessed using the links below. After the presentation there will be the opportunity to ask questions.

The post Kambi Group plc Q2 2025 Report appeared first on European Gaming Industry News.

George Miller (Gyorgy Molnar) started his career in content marketing and has started working as an Editor/Content Manager for our company in 2016. George has acquired many experiences when it comes to interviews and newsworthy content becoming Head of Content in 2017. He is responsible for the news being shared on multiple websites that are part of the European Gaming Media Network.

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Business Press Release (The Guardian, Gambling Commission, TalkSport)

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SSC Napoli, Champions of Italy, Aligns with Rabona in Long-Term Strategic Partnership

Rabona, a leading international sportsbook brand, has been named the Official Regional Betting Partner of SSC Napoli — the reigning champions of Italy and one of Europe’s most prestigious football clubs. This long-term partnership is set to commence on July, 2025.

The collaboration marks a significant alignment between two ambitious organizations, each known for their commitment to excellence, digital innovation, and loyal fan engagement. Following Napoli’s historic fourth Serie A title win in the 2024-25 season, this partnership comes at a high point for the club, offering Rabona access to one of the strongest brands in modern football.

We are proud to welcome Rabona as SSC Napoli’s new European Betting Partner. This partnership marks an exciting chapter for our club, as it brings us even closer to the millions of Napoli fans across Europe,” stated Leonardo Giammarioli, Chief Global Business Officer at SSC Napoli. “We’re particularly enthusiastic about the spirit of innovation Rabona brings, and we look forward to exploring creative and engaging activations together that reflect the passion and ambition of our club and supporters.”

For Rabona, the partnership is a chance to put its full digital toolkit to work — supporting a world-class club that’s eager to deepen its bond with fans. This is exactly the kind of challenge the brand is built for. With powerful engagement tools, a tech-first mindset, and a passion for the game, Rabona is ready to deliver smart, high-impact solutions that match Napoli’s ambition — and bring real value to their community.

We are genuinely excited about this partnership, it’s such a huge deal for us. Why? Because we’re fans too! Just look at the name of our brand. ‘Rabona’ refers to a unique football move, famously loved by the legendary Neapolitan captain No. 10. We are very happy to be able to share our digital solutions with Napoli’s supporters. Our mission is to connect fans with their idols, and we have all the tools. You’ll love our fresh ideas — from launching live streams with built-in interactivity to facilitating special moments IRL. Getting to bring the football community even closer is a dream come true.”

Rabona’s strategy is rooted in technology and innovation. Together with SSC Napoli, the brand is rolling out a suite of interactive experiences and activations designed to turn passive viewership into active engagement. These include:

  • Real-time Q&A sessions with the players via interactive video streams
  • Exclusive promotions and betting opportunities connected to club milestones
  • Behind-the-scenes content and team insights distributed through Rabona and Napoli channels
  • Localised campaigns tailored to European markets with strong fan engagement

This partnership also presents significant upside for Rabona’s affiliate and business networks. Associating with SSC Napoli — a club with global recognition and on-field momentum — enhances Rabona’s credibility, boosts brand equity, and creates a powerful narrative for audience acquisition in competitive betting markets. With a growing presence in key global markets and a digital-first product offering, Rabona will use this collaboration to deepen engagement with football audiences across Europe, elevate its brand profile, and deliver measurable business outcomes.

Beyond customer-facing gains, the deal positions Rabona as a case study in how sports betting brands can engage with top-tier clubs in ways that create long-term business value. This partnership goes beyond banner space and impressions, focusing instead on technology-led brand-building that respects the integrity of sport while delivering measurable returns.

The collaboration arrives at a time when both parties are accelerating their growth. For Napoli, it’s about maintaining momentum and increasing international reach. For Rabona, it’s an opportunity to anchor its presence in football culture while scaling its operations with authenticity and precision.

Rabona continues to demonstrate that it is more than just a sportsbook — it’s a digital partner capable of shaping the future of fan engagement and sports entertainment. With SSC Napoli by its side, the brand enters a new chapter defined by connection, creativity, and commercial potential.

Expressed through the slogan “Be Napoli. Play with Rabona,” the partnership celebrates the identity and passion of Napoli supporters, offering new ways to deepen their connection to the club they love.

Eager to find out more? Visit Rabona.com for full details.

The post Business Press Release (The Guardian, Gambling Commission, TalkSport) appeared first on European Gaming Industry News.

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Integrated Resorts’ 1H GGR hits Php93.36-B GGR, PAGCOR says

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The country’s integrated resort casinos generated Php93.36 billion in gross gaming revenues (GGR) in the first half of 2025 to sustain the momentum of the local tourism and gaming sectors, according to the Philippine Amusement and Gaming Corporation (PAGCOR).

In his welcome address at the Philippine Hotel Connect 2025 on Thursday, July 24, PAGCOR Chairman and CEO Alejandro H. Tengco said the country’s IR casinos accounted for nearly half of the local gaming industry’s total GGR of Php215 billion from January to June this year.

“Of the Php93.36 billion generated by the integrated resort casinos, Php16 billion was paid to PAGCOR as license fees, ensuring funding for government social services and driving the country’s economic growth,” Chairman Tengco said.

The PAGCOR chief noted that aside from contributing to government revenues, integrated resort casinos also helped position the Philippines as a competitive tourism destination.

“We have seen time and again how a thriving hospitality sector can drive employment, fuel trade, revive local enterprises, and bridge communities,” he said. “And nowhere is this more evident than in the huge tourism contributions from our licensed integrated resort casinos within and outside Metro Manila.”

Aside from paying billions in license fees, the country’s integrated resort casinos also provide significant funding support to key government institutions – including the health, education, and military sectors – through their cultural foundations.

“Their contributions are concrete examples of how tourism, hospitality, and gaming – when aligned and responsibly managed – become a catalyst for national resilience and progress.”

But alongside the gaming industry’s strong performance, Mr. Tengco emphasized the need to safeguard its growth through effective regulation and responsible gaming practices.

He underscored PAGCOR’s recent move to remove gambling advertisements from areas frequented by minors and its memorandum of understanding with the Ad Standards Council to implement stricter gaming advertising guidelines.

“As the gaming industry expands, so must our safeguards,” he said. “Hence, we have taken a firm stance against the proliferation of illegal and unregulated gaming operations that offer no safety nets or protection to players and, more importantly, no remittance or any form of revenue to the government.”

Mr. Tengco called for continued collaboration between government and the private sector to maintain the momentum of tourism recovery and long-term economic gains.

“The success of Philippine tourism is a shared journey between regulators and investors, between public ambition and private innovation,” he said. “PAGCOR will continue to walk side by side with our partners in building a globally competitive yet distinctly Filipino tourism and gaming industries.”

Organized by the Philippine Hotel Owners Association, the Philippine Hotel Connect 2025 gathered tourism and hospitality leaders to foster collaboration, discuss global and regional tourism insights and opportunities, emerging trends, among others.

The post Integrated Resorts’ 1H GGR hits Php93.36-B GGR, PAGCOR says appeared first on European Gaming Industry News.

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Alea doubles down on cybersecurity with Continent 8’s full-spectrum assessment solutions

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Continent 8’s Vulnerability Assessment and Penetration Testing, Security Audit and Vulnerability Scan services enable Alea to further strengthen the security and resilience of its iGaming platform

Continent 8 Technologies, the leading provider of global managed hosting, connectivity, cloud and cybersecurity solutions for the iGaming and online sports betting industry, announces that it has expanded its cybersecurity collaboration with Alea.

Building on its current programme of Vulnerability Assessment and Penetration Testing (VAPT) services with Continent 8, Alea – the award-winning casino game aggregator – has deepened its partnership with Continent 8 and its cybersecurity division, C8 Secure, by integrating Security Audit and Vulnerability Scan (V-Scan) services. This strategic initiative further enhances Alea’s cybersecurity posture and underscores the company’s ongoing investment in the resilience and integrity of its infrastructure.

The expanded cybersecurity assessment programme delivers a wide range of benefits for Alea and its operator network, including:

  • Identifying, assessing and mitigating vulnerabilities in IT infrastructures, applications and networks
  • Ensuring compliance with industry best practises and cybersecurity frameworks by evaluating security policies, procedures and governance
  • Recognising new vulnerabilities, highlighting areas for improvement and prioritising remediation efforts
  • Developing a customised roadmap for ongoing improvement to enhance cybersecurity posture and maturity
  • Enhancing the trust and confidence of customers and partners by implementing industry-best cybersecurity measures

Eduard Fumás, CTO at Alea: “Security is built into everything we do at Alea. We’ve always believed that operators and their players deserve the highest level of protection. This is why we’ve invested in strong encryption, fraud prevention tools and a robust infrastructure from day one.

“Working with Continent 8 has helped us put that commitment to the test. Their expertise allows us to validate and strengthen our systems with confidence. We’re proud of how far we’ve come together, and even more excited about what’s next as we keep raising the bar and building a platform that our partners can trust completely.”

Patrick Gardner, Chief Security Officer at Continent 8 added: “As Alea continues to grow and expand, its proactive commitment to maintaining a secure iGaming aggregator platform becomes paramount. In our ongoing collaboration with Alea, we remain dedicated to fostering and supporting their cybersecurity initiatives – ensuring that both Alea and its extensive partner ecosystem stay protected, resilient and prepared.”

Continent 8 will be exhibiting at SBC Summit Lisbon, from 16-18 September at Stand C80.

The post Alea doubles down on cybersecurity with Continent 8’s full-spectrum assessment solutions appeared first on European Gaming Industry News.

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