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Kambi Group plc Q3 Report 2020

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Kambi Group plc Q3 Report 2020
Kambi Group plc Q3 Report 2020Reading Time: 3 minutes

 

Financial summary

  • Revenue amounted to €28.1 (Q3 2019: 23.0) million for the third quarter of 2020, an increase of 22%, and €70.8 (65.6) million for the period January to September
  • Operating profit (EBIT) for the third quarter of 2020 was €6.5 (3.4) million, at a margin of 23.3% (14.9%), and €10.0 (8.6) million for the period January to September, at a margin of 14.2% (13.0%)
  • Profit after tax amounted to €5.1 (2.3) million for the third quarter of 2020 and €6.8 (5.8) million for the period January to September
  • Earnings per share for the third quarter of 2020 were €0.164 (0.075) and €0.220 (0.193) for the period January to September
  • Cash flow from operating and investing activities (excluding working capital movements) amounted to €6.9 (2.6) million for the third quarter of 2020 and €8.2 (4.2) million for the period January to September

 

Key highlights

  • Posted record quarterly performance with revenue up 22% year-on-year and operator turnover rising 62%, driven by the resumption of sports culminating in a busy September calendar
  • Expanded partner network through the signing of major US operator Churchill Downs Incorporated and its BetAmerica sports betting brand
  • Signed a long-term extension with LeoVegas Group, cementing the partnership and extending the agreement to cover additional brands
  • Continued to deliver for partners with 17 launches throughout the quarter, including the online launch of Penn National Gaming’s Barstool Sportsbook in Pennsylvania

“The difference between Q2 and Q3 couldn’t have been starker and underlines the ability of the business to quickly and efficiently respond not only to the lockdown situation, but also ensuring resources were in place for when sports returned. It’s reassuring for our partners to experience the capability and inherent flexibility Kambi has to adapt and thrive under testing conditions and we are confident in our ability to handle any potential future impacts that may arise from the virus. It’s also been reassuring to see that, despite some heightened local restrictions, there’s been no impact on high-level sports.

Momentum gained late in Q2 carried through to Q3, with Kambi posting record quarterly revenue of €28.1m. Operator turnover was also up significantly to an all-time high, rising 62% year-on-year. The gradual return of sports drove greater volumes throughout the period, particularly during September, which produced 43% of the operator turnover for the quarter. This positive trend has continued into the start of Q4.

During the quarter, we were able to complete two important pieces of business. Firstly, we signed a new partner in Churchill Downs Incorporated (CDI), a large US multi-state company and operator of the BetAmerica sportsbook brand. We are already live on-property with BetAmerica in two states and will launch online in the near future. CDI has already enjoyed digital success with its TwinSpires horserace wagering business and has the ambition to turn BetAmerica into a similar success story.

Secondly, the extension of our partnership with the LeoVegas Group. The agreement will see Kambi continue to provide our services to the LeoVegas Sport brand and carry on what has been an exciting journey so far. In addition, we will also provide our sportsbook to additional brands within the Group.

It was also another busy quarter in terms of launches, culminating in the much-anticipated launch of Penn National Gaming’s (PNG) proprietary Barstool Sportsbook app in Pennsylvania in mid-September, which has delivered promising early performance numbers. The app, 100% of which was developed in-house by PNG, is just the latest example of what’s possible when using Kambi’s empowering technology.

As we near the end of 2020, the cautious optimism of earlier in the year has been replaced with growing confidence, as we finish the year in great shape. Looking ahead, having successfully come through our toughest challenge, more exciting opportunities await us.”

You are invited to participate in a report presentation at 10.45 (CET) 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.

Kambi’s quarterly results podcast can be found here.


Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Kambi Group plc Q3 Report 2020

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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Evolution’s Crazy Time, World’s #1 Live Game Show, Launches in Michigan

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[COMPANY NEWS] Evolution has officially launched its groundbreaking live game show Crazy Time to online players in Michigan, marking the game’s latest entry into the US market.

This launch makes Michigan the fifth US state to offer Crazy Time, following the game’s successful rollout in New Jersey in December 2023 and subsequent launches in Pennsylvania, West Virginia, and Delaware in 2024.

Streamed live from Evolution’s world-class studio in Southfield, Michigan, Crazy Time combines innovative gameplay with cutting-edge technology. The immersive game show experience is powered by live multi-camera action, Random Number Generator (RNG) multipliers, augmented reality features, and elements inspired by slots and video games.

Crazy Time offers a dynamic mix of entertainment with its core money wheel game and four captivating Bonus games: Crazy Time, Pachinko, Coin Flip, and Cash Hunt. Each Bonus game introduces unique interactive experiences with multipliers as high as 10,000x.

Jacob Claesson, Chief Executive Officer for Evolution North America, commented: “Crazy Time continues to redefine online gaming entertainment, and we’re thrilled to finally introduce this award-winning game to players in Michigan. Since its initial launch in 2020, Crazy Time has captivated millions globally, establishing itself as the top online live game show in the world and has quickly become one of the most popular Live Dealer games in the US”

 

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Registration opens as ‘Nuevos Horizontes’ unveiled as creative theme for Barcelona-bound iGB Affiliate

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As registration opens for iGB Affiliate, ‘Nuevos Horizontes’ (New Horizons) has been unveiled as the creative theme driving the international marketing campaign in support of the 2025 edition which will be the first to take place at Fira Gran Via, Barcelona alongside sister show ICE.

Explaining the thinking behind the creative Naomi Barton, iGB Events’ Global Portfolio Director said: “The iGaming industry is continually evolving, and our 2025 campaign invites affiliates to explore new horizons at our exciting new venue, Fira Gran Via in Barcelona.

“iGB Affiliate is the home of the igaming affiliate community, and it enables connection, growth and shared business success for our audience of affiliates, operators and tech vendors. This campaign will drive our community into uncharted territory, sparking a spirit of exploration that embraces emerging markets, innovative strategies, and untapped commercial opportunities. It equips affiliates with the tools and insights needed to adapt, innovate, and conquer new horizons.”

She added: “With our move to Barcelona we’re setting our sights on an incredibly bright future. The additional space at Fira Gran Via, Barcelona, which is among the largest exhibition venues in Europe, will enable iGB Affiliate to achieve its full potential and continue to connect the best affiliates with the best operators and tech vendors.

“The 2025 edition of the show is set to feature a record 250 exhibitors and sponsors, occupying 15,000 sqm of space. The enhanced facilities in Barcelona will empower the affiliate community to forge new igaming connections, build strategic and trusted partnerships, expand their networks, and explore uncharted territories.”

For more information on iGB Affiliate Barcelona (20 – 23 January), the only dedicated platform that exists purely to connect the best iGaming affiliates with the best iGaming affiliate programs and tech vendors, visit: barcelona.igbaffiliate.com

 

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GGPoker Unveils $1M Halloween Party Promotion: Collect Candies, Win Up to $1,000!

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Join the Trick-or-Treat fun from October 25 to October 31 and grab your share of $1 Million! 

GGPoker, the World’s Biggest Poker Room, invites players from across the globe to get spooky this Halloween with the thrilling $1M Halloween Party promotion. Running from October 25 to October 31, players can collect candies and win up to $1,000 in instant prizes by joining the exciting Trick-or-Treating event!

During $1M Halloween Party, players earn a candy in eligible cash games every time they are dealt the Jack of Spades or the Jack of Spades appears in the community cards. Enter Trick-or-Treat mode once you hold 10+ candies and take a shot at up to $1,000 in C$!

How It Works:

  • Collect Candies: Earn candies whenever the Jack of Spades appears in eligible cash game hands
  • Enter Trick-or-Treat Mode: Gather 10 or more candies and activate Trick-or-Treat mode, where massive prizes are up for grabs
  • Win Big: Stand a chance to win up to $1,000 as you collect more candies; the more candies you have when you Trick-or-Treat, the higher your chance to claim a bigger instant prize

This is a limited-time promotion, running only until October 31, so don’t miss out on the action!

“Whether you’re a poker pro or a beginner, GGPoker’s $1M Halloween Party is the perfect way to add some excitement to your Halloween week and stack up some real cash while having fun,” said Paul Burke, Head of PR at GGPoker.

Candies can be collected in various cash games, including All-In or Fold (AoF), Rush & Cash, Hold’em, Omaha (PLO), and Short Deck; all other cash games, and all tournaments, are ineligible.

So, get ready to rack up the candies, hit the tables, and make this Halloween one to remember!

Key Highlights:

  • Promotion Period: October 25-31
  • Prizes Up to $1,000: Collect candies for your shot at instant C$ prizes
  • $1M Prize Pool: Get in on the action to claim your share of a massive $1 million prize pool
  • Special Trick-or-Treat Mode: The more candies you collect, the higher your chances of landing huge rewards

To find out more about $1M Halloween Party, please visit: ggpoker.com/promotions/halloween-party-2024/

 

The post GGPoker Unveils $1M Halloween Party Promotion: Collect Candies, Win Up to $1,000! appeared first on European Gaming Industry News.

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