Connect with us
MARE BALTICUM Gaming & TECH Summit 2024

Latest News

Kambi Group plc Q3 Report 2020

Published

on

Reading 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.

Advertisement

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.

Advertisement

Kambi’s quarterly results podcast can be found here.

Continue Reading
Advertisement

Latest News

Meridianbet’s Leadership in 2023: 61% of Top Managerial Roles Held by Women

Published

on

meridianbet’s-leadership-in-2023:-61%-of-top-managerial-roles-held-by-women

 

In 2023, Meridianbet emerged as a contender for the most DEI-compliant betting and gaming brand globally, with women occupying 61% of its top managerial positions, marking a significant rise from 58% in 2021.

This achievement not only exemplifies Meridianbet’s commitment to gender equality but also sets a high standard compared to global diversity, equity, and inclusion benchmarks.

Gender equality at Meridianbet is a policy-driven initiative, not merely a compliance requirement, and it started from Day 1. The company ensures zero gender pay disparity, thereby supporting a complete eradication of the gender gap within its ranks. This commitment is manifested in its leadership demographics, significantly surpassing the most progressive DE&I standards globally.

The distribution of female management across Meridianbet’s operations varies by region, reflecting the company’s broad and inclusive reach. In Europe, 58% of managerial roles are held by women, while the Americas report a slightly higher figure at 60%. Africa stands out with an impressive 69%, showcasing Meridianbet’s effective policies in diverse cultural contexts.

Advertisement

Inclusion is deeply embedded in Meridianbet’s operational ethos. The company not only aims to attract the best global talent but also ensures that its recruitment and professional development strategies foster an environment where every employee, regardless of gender, feels valued, respected, and heard.

The forthcoming weeks are expected to provide more insights as Meridianbet prepares to share further achievements and plans in its continued pursuit of excellence in corporate responsibility.
Meridianbet is part of the Golden Matrix Group.

 

Continue Reading

Gambling in the USA

BETTING HERO REVS UP COLLABORATION WITH NASCAR TO ENHANCE BETTING EXPERIENCE FOR RACING FANS

Published

on

betting-hero-revs-up-collaboration-with-nascar-to-enhance-betting-experience-for-racing-fans

 

Betting Hero Research Uncovers Potential For Regional Betting Growth in the Sport.

Betting Hero, the leading customer acquisition, retention, and development partner for U.S. sportsbooks, has embarked on a consumer research collaboration with NASCAR to help the respective companies and their shared sportsbook operator clients better understand and serve North Carolina NASCAR fans with premium betting experiences.

Laying the foundation for continued fan engagement and future acquisition campaigns, Betting Hero has completed a research study, comprised of qualified bettors in the Tar Heel State to uncover their engagement preferences for NASCAR as both sports fans and bettors.

The study, which took place both online and in person in April 2024, shows a significant demand for NASCAR as a betting product in North Carolina. Respondents are almost three times more likely to bet on the sport than in previously surveyed states.

Advertisement

NASCAR ranked behind only the NFL, NBA, and MLB in betting activity by the study respondents, with 70% stating that they’ve watched a race for the first time because they’ve placed a bet on it.

“Having worked closely with NASCAR to educate its fans on the betting options available to them for several years, we have long believed in the opportunity to both attract new fans to the sport and better engage existing fans through thoughtfully curated betting experiences,” said Jai Maw, Co-Founder and President of Batting Hero. 

Maw continued, ”As is shown in the North Carolina study conducted by our in-house consumer research division, there is a clear correlation between most fans’ enjoyment or engagement in a sporting event and their betting activity overall. However, NASCAR fans have to work a little harder than fans of other major sports to find their betting preferences due to less available markets and prop betting options on average. Those that can find their preferred betting markets could also be more likely to remain loyal to their sportsbook of choice than fans of other sports where available markets are somewhat commoditized.”

As a market audience, 86% of North Carolinians see betting as a true complement to sporting enjoyment. They’re also loyal and active bettors, with over half of respondents having downloaded three gambling apps and almost 90% still using their primary sportsbook after registration.

Significantly, certain sportsbooks surveyed showed a disproportionately high level of NASCAR betting activity compared to brand awareness in the target group, which could suggest that having a strong NASCAR betting offering is more important than other factors in the registration decision process.

Advertisement

“NASCAR has extremely passionate fans and we see sports betting as another way they can engage with sport,” said Joe Solosky, Managing Director of Sports Betting at NASCAR. “We are excited, but not surprised, to see the success of NASCAR as an offering through the launch of sports betting in the industry’s backyard of North Carolina and are continuing to better improve the NASCAR betting product to give fans more options to responsibly engage with action on the track. The study discovered that 70 percent of respondents watched a race for the first time because they placed a bet on it, and it shows that our efforts in the space can attract new fans as well.”

North Carolina has quickly risen to the top tier of states for NASCAR betting volume, ranking among the top three states in its first two months since launch. Across the 20 states that were live in March and April of 2023, NASCAR’s handle has seen a substantial 15% year-over-year growth. In states like Illinois, Massachusetts, Michigan, and Mississippi, NASCAR’s handle has surged by at least 50% compared to the previous year. Even more impressively, in Nevada and New York, NASCAR’s handle has doubled year over year, indicating a significant increase in interest and betting activity in these regions.

Resident Culture Bar & Kitchen will be hosting a NASCAR post-party on Saturday, May 25th, for the Xfinity race the weekend of the Coke 600 and a Race Watch party for the Cup Series Coke 600 on Sunday, May 26th. Betting Hero‘s team of experts will be in attendance to help answer any sports betting-related questions for fans and patrons while ensuring all enjoy their experience betting on NASCAR responsibly.

Continue Reading

Latest News

BetSocial amplifies impact of Autism Awareness Campaign through partnership with AFETO Association

Published

on

betsocial-amplifies-impact-of-autism-awareness-campaign-through-partnership-with-afeto-association

 

Betmotion is pleased to announce that BetSocial, its Corporate Social Responsibility project, has achieved significant success in its recent autism awareness campaign in partnership with the AFETO Association.

For the second consecutive year, this collaboration has not only promoted awareness of autism but also raised significant funds to support children and adolescents with Autism Spectrum Disorder (ASD).

BetSocial’s initiative demonstrated Betmotion’s commitment to social impact, highlighting its role in promoting community well-being. Over three days, the “Cofrinho Solidário” bingo room was the hub of activities, where 100% of the proceeds from sold bingo cards were directly reverted to the AFETO Association. This year, the campaign doubled the funds raised compared to the previous year and significantly increased card sales, demonstrating a growing community engagement.

“BetSocial was created to broaden our social action and strengthen the communities we interact with,” said Bianca Passos, Bingo Manager and one of the founders of BetSocial. “This campaign reflects our commitment to not only entertain but also positively contribute to society. We are thrilled with the support received and the results achieved, and this only reinforces the importance of initiatives like this.”

Advertisement

Continue Reading

Trending