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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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SlotMatrix kicks off festive season with Santa’s Golden Christmas release
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SlotMatrix, the world’s largest casino content aggregator, is embracing the holiday season with Santa’s Golden Christmas, a sparkling new slot packed with festive cheer, golden prizes, and heart-warming holiday magic.
Set in a winter wonderland, the game brings players closer to the jolly gift-giver. Snowflakes drift across the reels, each carrying the potential to boost Jackpot values or trigger Stanta’s Jackpot Wheel, where Mini, Minor, Major, Mega, and Grand prizes await.
The Free Spins bonus delivers even more festive excitement. Locking full reels clears columns, opens new positions, and increases the Free Spins Multiplier, which can climb from 1x all the way to 10x. Each cash prize collected during Free Spins is amplified at the end by this multiplier, turning generous gifts into golden wins.
Exclusively available through SlotMatrix, Santa’s Golden Christmas is enhanced by EveryMatrix’s proprietary gamification tools, including free spins and leaderboards, and can be seamlessly integrated with EngageSuite, the all-in-one player loyalty solution.
Carl Gatt Baldacchino, Head of Account Management, SlotMatrix: “We are nearing the end of the year, and we wanted to celebrate this wonderful season with a special game.
“The dazzling visuals, joyful audio, and ever-present chance of hitting Santa’s biggest prizes make this the perfect choice for the holidays. ‘Tis the season to be jolly, ‘tis the season to play Santa’s Golden Christmas.”
The post SlotMatrix kicks off festive season with Santa’s Golden Christmas release appeared first on European Gaming Industry News.
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CHESS SUPERSTARS CARLSEN, NAKAMURA, AND GOTHAMCHESS JOIN BETBY FOR CHESS MASTERCLASS AT ICE BARCELONA
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BETBY, the Tier 1 B2B sportsbook supplier, has announced an unparalleled activation for ICE Barcelona 2026, bringing together three of the most influential figures in chess: Magnus Carlsen, Hikaru Nakamura, and Levy Rozman (aka GothamChess). This will mark the first time that all three will appear publicly together in Europe, adding a landmark moment to one of the industry’s major events.
Magnus Carlsen, BETBY’s global brand ambassador, five-time World Chess Champion, and officially considered the greatest player in chess history, will be joined by Hikaru Nakamura, current world number two, five-time US Champion, and one of the best grandmasters of the modern era. They will also be accompanied by Levy Rozman, better known globally as GothamChess, the world’s largest chess streamer with more than 7 million YouTube followers and a central figure in chess’ surge in mainstream popularity.
This unique gathering underscores the shared vision between BETBY and the global chess community: innovation, strategic excellence, and the pursuit of new frontiers in digital entertainment. Chess continues to experience a cultural renaissance, fuelled by new competitive formats, digital viewership, and its recent inclusion in the Esports World Cup, where Carlsen claimed the inaugural title.
The activation also marks a major moment in the second phase of BETBY’s global campaign with Magnus Carlsen, “Leaders Choose Leaders.” This campaign is built on the idea that true leaders — in chess and business — recognise excellence and choose to surround themselves with others who operate at the highest level.
Carlsen, Nakamura, and Rozman will join BETBY at 12:00 pm on Day 2 (20 January) of ICE Barcelona, at stand 5K20 in Fira Barcelona Gran Via, offering attendees a rare opportunity to get up close and engage directly with three of the sport’s most recognisable figures.
The appearance will include a live press conference, as well as exhibition matches featuring Magnus Carlsen, Hikaru Nakamura, and Levy Rozman.
“Bringing Magnus, Hikaru, and Levy together at ICE Barcelona is a once-in-a-lifetime moment,” said Leonid Pertsovskiy, CEO at BETBY. “Anyone who loves chess knows how special this is. Having these three on the same stage guarantees an incredible show full of energy, personality, and the kind of excitement you rarely get to see live. We’re proud to create a moment that fans and our partners will remember for a long time.”
BETBY invites chess fans, industry professionals, and ICE delegates to witness this exceptional activation at stand 5K20, where strategy, entertainment, and elite talent converge in a show you won’t want to miss.
The post CHESS SUPERSTARS CARLSEN, NAKAMURA, AND GOTHAMCHESS JOIN BETBY FOR CHESS MASTERCLASS AT ICE BARCELONA appeared first on European Gaming Industry News.
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Gaming Corps signs new content partnership with Buzz Bingo
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Gaming Corps – a publicly-listed game development company based in Sweden, has partnered with Buzz Group, the company behind the UK’s largest omnichannel bingo operator, Buzz Bingo.
Buzz Bingo has a five-decade heritage, a cross-generational community of more than a million members, and 79 bingo clubs that welcome nearly 100,000 players each week. Its digital platform extends this community online, offering hundreds of slots and recreating the safe and sociable atmosphere that has long defined its venues.
Buzz Bingo’s digital platform will now feature a host of Gaming Corps’ standout titles such as 3 Pigs of Olympus, a light-hearted mythological slot packed with Instant Prize action and an escalating Bonus Pot, along with Anubis vs Horus: Twin Titans, where two of mythology’s most powerful deities face off in a battle for legendary rewards.
These join the wider portfolio of Crash, Mine, Table, Plinko and Slot content, all available across mobile, desktop and in-club Touchpads.
Adam Pentecost, Director of Customer Success at Gaming Corps, said: “Buzz Bingo has a unique place in British entertainment. Few brands have such deep community roots or such a loyal, cross-generational audience. That makes this partnership particularly meaningful for us. Our goal is always to build games that feel engaging from the very first interaction, and Buzz’s focus on sociable, inclusive play is a natural home for our content. We’re looking forward to supporting their continued growth across both digital and in-club channels.”
David Swaine, Head of Product Slots & Games at Buzz Bingo, added: “We’re pleased to bring Gaming Corps titles to buzzbingo.com as we continue expanding our online games library. Their mix of inventive mechanics, bold themes and easy-to-pick-up gameplay fits well with what our players enjoy, both in-club and online. We’re excited to add more of their releases over the coming months.”
The partnership marks Gaming Corps’ latest move in strengthening its position in the UK market, adding another recognisable British entertainment brand to its growing network of operator partners.
The post Gaming Corps signs new content partnership with Buzz Bingo appeared first on European Gaming Industry News.
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