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Kambi Group plc Q2 Report 2024

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Financial Summary

  • Revenue amounted to €45.7 (Q2 2023: 42.9) million for the second quarter of 2024 and €88.9 (H1 2023: 86.9) million for the first half of 2024
  • Operating profit (EBIT) for the second quarter of 2024 was €6.2 (3.7) million, at a margin of 13.5% (8.6%) and €10.6 (8.2) million, at a margin of 11.9% (9.4%) for the first half of 2024
  • EBITA (acq)* for the second quarter of 2024 was €7.5 (5.0) million, at a margin of 16.4% (11.7%), and €13.3 (10.8) million, at a margin of 14.9% (12.4%), for the first half of 2024
  • Cash flow (excluding working capital and M&A) amounted to €8.1 (0.1) million for the second quarter of 2024 and €13.5 (3.4) million for the first half of 2024
  • Earnings per share for the second quarter of 2024 were €0.155 (0.083) and €0.260 (0.190) for the first half of 2024

*EBITA (acq) = Earnings before interest, taxation and amortisation on acquired intangible assets

Key highlights

  • Entered exclusive nationwide partnership with Choctaw Nation of Oklahoma, one of the largest tribes in the United States
  • Multiple partner launches including key completions prior to the UEFA European Championship (Euros) of LiveScore in the UK and Svenska Spel in Sweden
  • Industry veteran Werner Becher was announced as successor to Kristian Nylén as CEO
  • The Board decided to withdraw its 2027 financial targets following a review of the underlying assumptions as slower than expected progress towards regulation in certain key markets would likely delay revenue
  • Completed the fourth share buyback programme and announced a new long-term capital allocation policy with the objective of returning capital to shareholders through buybacks

CEO comment

“In the second quarter, operator turnover increased 3% year-on-year, although was up 20% when excluding the impact of the Penn online migration. This was driven by a busy sporting calendar and the growth of new and existing partners. Operator trading margin was 10.3%, boosted by higher than average margin from the June games in the Euros soccer tournament. With operating costs broadly flat, EBIT came in at €6.2 million, up 67% year-on-year.

In April, we strengthened our US and tribal network through an exclusive US-wide partnership with Choctaw Nation of Oklahoma, operator of Choctaw Casinos & Resorts. Choctaw owns a variety of gaming and hospitality destinations throughout southeastern Oklahoma, close to the Texas border, and is the exclusive casino and resort partner of the Texas Rangers, Major League Baseball’s World Series Champion. While Texas has yet to regulate sports betting, previous attempts to pass legislation would have seen licences tethered to the state’s sports franchises. We expect this will be the case again next year when we anticipate another effort to bring regulated sports betting to what is one of the largest states in the US.

Ahead of the Euros, we successfully delivered on two major partner launches, with LiveScore in the UK and Svenska Spel’s Oddset brand. These were both important accomplishments, carried out in parallel and requiring various bespoke developments. In the case of Svenska Spel, our front end division Shape Games was also successful in delivering its technology to enable the launch. The Euros and Copa America tournaments saw us provide all our partners with a market-leading product, enhanced by the delivery of expanded player props markets and Bet Builder capability via our AI trading division Tzeract. During the second half of June, activity on the Kambi platform was at its highest ever levels in terms of bets processed and number of players per day, with our partners receiving an uninterrupted high-quality service throughout.

On 1 July, I was pleased that we announced Werner Becher would be succeeding me as CEO from 25 July. With vast experience from the technology and gaming industries, most recently a senior executive at global sports data supplier Sportradar, I have every confidence Werner is the right person to lead Kambi into a new era of multi-product provision. I will be offering my full support to Werner from my new position on the Board of Kambi, where I will also help guide our long-term strategy.

I would like to take this opportunity to thank all Kambi employees, past and present, for their hard work and dedication during my time as CEO over the past 14 years, as well as everyone else who has supported Kambi along the way. I am proud of what we have achieved together and I firmly believe the foundation we have built positions us for future success.”

You are invited to participate in a web presentation at 9.00 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 Q2 Report 2024 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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Infingame to unveil fastest-growing aggregation hub at ICE Barcelona

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Leading aggregator to unlock unparalleled localisation opportunities across Latin America at Stand 2L50.

Infingame, one of the industry’s fastest-growing iGaming aggregators, is ready to redefine iGaming aggregation at ICE Barcelona 2025 with its industry-leading aggregation platform, designed to deliver unmatched scalability and localisation across the booming Latin American market.

Renowned as a disruptive force in the iGaming sector, Infingame’s newly revamped aggregation platform has been designed specifically to empower operators looking to tap into new markets across Latin America.

Boasting an unmatched portfolio of 16,000+ casino games from 200+ games providers, Infingame’s new platform is powered by state-of-the-art technology that enables operators to scale their business across new markets, all made available via a single API integration.

With 99.9% platform stability, coupled with the industry’s fastest spin times across its entire portfolio, Infingame has already established itself as one of the most popular go-to aggregators for online LatAm casinos.

The team’s local knowledge of Latin America has allowed Infingame to fully understand the dynamics of each market within the region and adapt its games portfolio accordingly to meet the shifting player preferences.

The platform will be complemented by an extensive range of gamification tools – such as tournaments, leaderboards and big win replays – offering casinos the tools they need to elevate their player engagement strategy.

During ICE, Infingame will also be spotlighting its sweepstakes solution, which is already favoured by two of the largest sweepstake operators in the world.

Delegates will also have the opportunity to win some exciting prizes at ICE Barcelona, including a Tag Heuer Formula 1 Watch, a Dyson Airwrap and a pair of Ray-Ban Meta Wayfairer glasses.

To be in with a chance of winning, make sure to visit Infingame’s Stand (2L50) during the conference to test out their player engagement tool. The tournament will take place at 10AM CET 20 January, and will run until 3PM CET 22 January.

Pavel Fedyushin, Chief Executive Officer at Infingame, looks forward to the conference: “This is the first time that ICE will be hosted in Barcelona, and we are so excited to be a part of that milestone! ICE has always been a staple in the iGaming calendar – this year’s conference will be the perfect way to start 2025 off with a bang.

“At Infingame, we are more than just an aggregator platform; we are a content and technology provider that is committed to driving success for our operators and game studios across Latin America. Our team’s extensive knowledge of the LatAm region, combined with our collective technological expertise, puts us in a strong position to continue delivering unparalleled gaming experiences for our partners.”

The post Infingame to unveil fastest-growing aggregation hub at ICE Barcelona appeared first on European Gaming Industry News.

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EGT Digital received a licence for operation in Sweden

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EGT Digital is pleased to announce its authorization to operate in Sweden. The company was granted a license from the Swedish Gambling Authority (Spelinspektionen) to manufacture, provide, install, and modify software for the online gambling industry. Now, all main products of the Bulgarian provider – the X-Nave platform and the in-house developed games, are available to the local market.

Standing out with great versatility, EGT Digital’s “all-in-one” betting platform X-Nave enables operators to build and grow a successful business online. It includes 4 main modules: Sport Product, CRM Engine, Gaming Aggregator, and Payment Gateway, offering multiple tools for creating highly personalized content that is fully tailored according to players’ tastes and requirements. Еach of the platform’s modules can be part of the complete solution or function separately, as they can be integrated with developments of third-party providers.

EGT Digital’s portfolio of games covers over 120 casino titles, including 4 jackpots: Bell Link, High Cash, Clover Chance, and Single Progressive Jackpot. Featuring a wide variety of themes, bonuses, and high winning chances, they provide rich gaming choices for different types of players and are currently among the favorites in more than 50 jurisdictions globally.

Tsvetomira Drumeva, Head of Sales at EGT Digital, commented: “Obtaining this licence is an important step for us. Thanks to it, we have the opportunity to enter the Swedish market, which is a top priority for us. This will allow us to continue our expansion into other European countries and consolidate our status as one of the preferred iGaming providers on the continent.”

The post EGT Digital received a licence for operation in Sweden appeared first on European Gaming Industry News.

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Shaping the Future: BETBY’s Strategic Focus on AI

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Danil Emelyanov, Head of BETBY’s AI Labs, on how the provider is leveraging artificial intelligence to offer unique special markets, ever more bridging the worlds of sports betting and entertainment.

How transformative has AI been for the sports betting industry?

AI has revolutionized the sports betting industry by driving operational efficiency and user engagement to new heights. It’s no longer a luxury but a necessity for operators aiming to stay competitive. Sports betting thrives on data, and AI excels at processing vast datasets. This capability allows sportsbooks to enhance traditional models with previously unattainable insights, streamlining operations and delivering personalized betting experiences to users.

AI has also reduced the reliance on manual intervention by increasingly automating processes, enabling departments, such as trading teams, to focus on strategic objectives. However, AI doesn’t replace human oversight—it augments it. For example, traditional math models depend on static statistics, whereas AI incorporates dynamic information to improve accuracy. At BETBY, this understanding drove us to last year launch AI Labs—a comprehensive suite of cutting-edge tools designed to meet the evolving needs of operators and players alike. AI is not just a feature for us; it’s a cornerstone of our strategy.

What was the vision behind AI Labs?

AI Labs emerged from a clear gap in the market. Operators often rely on fragmented tools for churn and LTV prediction, risk management, personalization, and business intelligence, but BETBY saw an opportunity to create a unified solution addressing all these needs under one roof. Our vision was to build a comprehensive suite of tools that integrates seamlessly into our platform, empowering operators to achieve operational excellence while enhancing player engagement.

Since its inception, AI Labs has undergone continuous enhancements, reflecting our dedication to staying ahead of market demands. Nonetheless its core areas of focus have remained steadfast in enhancing aspects related to odds creation, risk management, the overall betting experience, and operational efficiency.

Among its standout and most recent features is the Betting Tips API, which provides data-driven, personalized betting advice to players, with the tips themselves delivered in as much as 18 languages thus greatly improving the usability of the feature from a geolocalised point of view. This tool not only enriches the player experience but also drives significant increases in conversion rates and engagement by enabling more informed betting decisions. Notably, 10% of soccer users on the BETBY partner network are already actively leveraging this feature.

Another example of AI Labs’ impact is its top-section recommendations, which have demonstrated remarkable results, driving a more than 60% growth in bets in markets such as Japan. By presenting players with highly relevant betting options based on their preferences and behavior, this feature keeps users engaged while streamlining their decision-making process, ultimately creating a more enjoyable and tailored betting experience.

Such innovations are reshaping sports betting into an engaging and dynamic form of entertainment, creating a more immersive experience—akin to the personalization seen on platforms like Netflix or Spotify. By tailoring offerings to a diverse spectrum of user preferences, AI Labs enriches the player journey while simultaneously delivering measurable success and competitive advantages for operators.

What differentiates BETBY’s AI tools from others in the market?

The most significant differentiator is real-time capability. Many AI solutions process data with delays, but BETBY’s technology analyzes and acts on information instantly. In a fast-paced industry like sports betting, this real-time responsiveness is a game-changer. For instance, if our model detects a potential churn risk or flags suspicious activity, we can act immediately—whether by offering a free bet to retain a player or limiting stakes to manage risk.

Besides that, being fully integrated within the BETBY ecosystem provides our clients with unparalleled advantages. Unlike third-party solutions that often require operators to share limited datasets with external providers—raising legitimate security concerns—our system leverages direct access to all BETBY data. This ensures comprehensive coverage and real-time updates, eliminating inefficiencies associated with external data processing. For instance, when users place bets, our system adapts instantaneously, refining models and delivering insights without delay.

This is particularly valuable for operators entering new and unfamiliar markets. If a sportsbook launches in a region like India, our AI already possesses the localized insights necessary to optimize recommendations and understand player behaviors. This seamless integration empowers operators to make data-driven decisions, ensuring their platforms resonate with local audiences while maintaining operational efficiency.

Apart from this, our extensive market expertise provides us with a significant competitive edge. Our risk management team, recognized as one of the best in the industry, brings deep, specialized knowledge that directly informs the development of our AI models. This level of expertise is exceptionally rare and difficult to replicate. For any company attempting to build an in-house risk management system from scratch, acquiring such domain knowledge would require immense effort and resources. At BETBY, we are fortunate to have direct access to this invaluable expertise, enabling us to deliver robust, reliable, and innovative solutions.

How does BETBY plan to continue innovating in AI?

Innovation drives everything we do at BETBY. At the upcoming ICE Barcelona, we’ll unveil an industry-first AI-based feed—a groundbreaking product that generates odds for unique markets which are directly linked to the entertainment landscape. This marks the next phase for AI Labs, transforming AI into a dynamic tool that bridges the gap between traditional sports bettors and casino-style players by offering unique content that transforms the sports betting industry into entertainment.

This shift to entertainment-focused betting reflects broader industry trends, with users demanding novel and engaging options. By introducing unconventional markets, we’re not just responding to trends—we’re setting them. AI Labs gives operators the flexibility to adapt to evolving market demands while pushing the boundaries of what’s possible in sports betting.

What can we expect from the future of AI in sports betting?

The future of AI in sports betting is twofold: increasing automation and personalized engagement. AI will become even more autonomous, reducing manual intervention and enabling operators to focus on strategic growth. For instance, we envision AI handling tasks like market settlement, with traders overseeing only high-stakes or complex cases.

Another area of focus is real-time personalization. By tailoring every aspect of the player journey—such as recommended bets, banners, and combo suggestions—AI can create deeply engaging experiences. This will not only enhance user satisfaction but also increase bet values and loyalty.

When it comes to risk management, dynamic player profiling will become the norm. Each bet will refine a player’s risk profile in real time, providing operators with actionable insights for better decision-making. Over time, AI’s capabilities will expand, offering growing automated assessments for specific segments of players.

Ultimately, BETBY’s vision for AI is to empower operators, enhance player experiences, and redefine sports betting as the new facet of entertainment. Through continuous innovation and a commitment to excellence, we’re not just keeping pace with the industry; we’re shaping its future.

The post Shaping the Future: BETBY’s Strategic Focus on AI appeared first on European Gaming Industry News.

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