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Kambi Group plc Q3 Report 2022

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Financial summary

  • Revenue amounted to €36.7 (Q3 2021: 41.6) million for the third quarter of 2022 and €108.2 (2021: 127.5) million for the period January to September of 2022
  • Operating profit (EBIT) for the third quarter of 2022 was €3.9 (14.7) million, at a margin of 10.6% (35.4%), and €16.1 (50.0) million, at a margin of 14.9% (39.2%) for the period January to September of 2022
  • Earnings per share for the third quarter of 2022 were €0.084 (0.384) and €0.370 (1.302) for the period January to September of 2022
  • Cash flow (excluding working capital and M&A) amounted to €1.8 (11.9) million for the third quarter of 2022 and €7.3 (39.8) million for the period January and September of 2022

Key Q3 highlights

  • Operator turnover increased by 12%, driven by new partner signings and market launches
  • Expanded the partner network in the Americas with four new signings of ilani, Mohegan, Oaklawn Racing Casino Resort and Ondiss
  • Acquired front end specialist Shape Games, a profitable and fast-growing business that will provide Kambi with market-leading native front end technology

Highlights after Q3

  • Partnered with Great Canadian Entertainment, a leading on-property gaming and entertainment company owned by an affiliate of Apollo Global Management
  • Signed agreement with PENN Entertainment that provides for ongoing revenue share payments during the transition period and $27.5 million in early termination and transition fees

“The third quarter is always the most challenging for the sports betting industry given the quiet sporting calendar and this year was no exception. It was also a quarter marked by growing global economic uncertainty and higher cost of living, trends which show little sign of subsiding any time soon. Despite this, Kambi proved its resilience once more and I am pleased to report another busy quarter for the business with operator turnover growth of 12%.

Kambi also saw great commercial momentum during the quarter with the signings of ilani, Mohegan, Oaklawn and Ondiss, and with the recent signing of Great Canadian Entertainment, one of Canada’s largest on-property gaming companies, Kambi’s partner network was significantly strengthened. Owned by Apollo Global Management, which holds a number of gaming assets, Great Canadian has the potential to become a major player in the Canadian sportsbook market and its selection of Kambi underlines our position as the partner of choice in the Americas.

Our UX capability was also enhanced during the quarter with our acquisition of front end specialists Shape Games. This is a landmark deal for Kambi for many reasons. Crucially, it gives us the fully-fledged, native front end capability at a time when the front end experience is a more vital part of the sports betting value chain than ever before. Having worked closely with Shape Games on various projects in recent years, I have seen first-hand the strength of their technology and the level of expertise they possess, and I am pleased to welcome such a profitable and rapidly growing business to the Kambi Group. The acquisition will not only complement our turnkey solution but it also aligns with our modularisation strategy with the front end module set to be sold as a standalone service outside of the existing network, thereby increasing our total addressable market.

We continue to make great strides towards executing our modularisation strategy and can reveal that our award-winning Bet Builder, which recently launched for NBA, the final major US team sport to be added to the product, has been identified as the first standalone module we’ll go to market with. Unlike our key competitors, Kambi’s Bet Builder was created as part of the core sportsbook, thereby benefitting from our expertise in areas such as competitive pricing, unique user experience and risk management, creating a compelling product for operators to integrate.

Our future is looking promising, operating from a strong position as we enter an economic recession which, while it will no doubt present challenges, may prove positive for B2B businesses such as Kambi in the long term. When also taking into consideration the recent start of the US basketball season and a World Cup still to come, we look forward to ending 2022 on a high before embarking on an exciting 2023.”

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The Free Bet Wheel: Betting.bet Increases Player Engagement with New Gamification Tool

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One of the UK’s leading betting aggregators, betting.bet, has introduced the Free Bet Wheel, a new free-to-play tool designed to increase user retention and interaction. Tied to the weekend’s Premier League football, this gamified feature offers users the opportunity to earn free bets and a weekly £100 cash reward.

At a time when most iGaming affiliates are focused on developing foreign markets such as Latin America and Africa, the function illustrates betting.bet’s ongoing commitment to the UK.

About the Free Bet Wheel

  • Weekend Availability: The Free Bet Wheel runs every weekend, aligned with major Premier League and international football matches.

  • Multiple Chances to Win: Players receive up to four spins to try their luck each weekend.

  • Winning Free Bets: Match three free bet colours within five spins to win a free bet on the featured match.

  • £100 Cash Jackpot: Land on the jackpot segment five times consecutively to win £100 in cash.

  • Loyalty Rewards: Players also collect bCoins, Betting.bet’s exclusive loyalty currency, which can be redeemed for a range of prizes, vouchers and rewards.

Strengthening Operator Partnerships Through Enhanced User Experience

By launching the Free Bet Wheel, betting.bet is not only elevating the player experience but also delivering tangible benefits to its network of partner operators. The feature offers a new avenue to profile selected betting partners, direct qualified traffic to safe free bets and reinforce affiliate partnerships through increased user activity and conversions.

Steve Gummer, Director of Betting.bet, stated: “We at betting.bet are dedicated to developing products and experiences that not only interest players but also provide clear value to our partners. Designed to benefit our UK community in a fun, frictionless manner, the Free Bet Wheel also supports important weekend traffic and sportsbook conversions.”

Driving Retention Through Gamification

This launch is part of a broader strategic focus on gamification and loyalty at betting.bet, aligning user enjoyment with commercial objectives. As the UK version of the platform continues to grow, features like the Free Bet Wheel are designed to support player acquisition, maximise LTV and drive weekend re-engagement.

The Free Bet Wheel is now live at betting.bet and available to all UK users aged 18+,

The post The Free Bet Wheel: Betting.bet Increases Player Engagement with New Gamification Tool appeared first on European Gaming Industry News.

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GR8 Tech Powers Smarter Betting with New Match Trackers

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GR8 Tech has unveiled a powerful new upgrade to its high-performance sportsbook platform: high-quality, real-time Match Trackers—designed to bring more action, insight, and excitement to players. Match Trackers are available across all of GR8 Tech’s sportsbook solutions, including iFrame and the Hyper Turnkey.

We’re always looking for ways to elevate the player experience and give our partners a competitive edge,” said Denys Parkhomenko, CPO at GR8 Tech. “Match Trackers have smart features that drive engagement, boost retention, and power faster betting decisions in real-time.

With broad coverage across football, basketball, tennis, hockey, volleyball, and handball, the trackers are live for pre-match analytics and in-game updates. Key features include:

  • Detailed Stats: From xG in football to rebounds in basketball and aces in tennis, players get live and historical stats tailored to each sport.
  • Key Moments & Summaries: Goals, assists, red cards, substitutions, and more delivered in real-time.
  • Pitch Animation: A dynamic, visual alternative to video streaming, showing key moments as they unfold on the field.
  • Lineups & Live Updates: Full team sheets, coaches, and live substitutions, so players are always in the know.
  • Live Standings: Updated rankings and tournament tables across all supported sports.

By providing operators with the tools to deliver everything players need in one place, GR8 Tech enhances the sportsbook user experience, enabling more confident betting and driving longer player sessions.

The launch of Match Trackers marks another step in the company’s long-term strategy to deliver a best-in-class, sportsbook-driven platform and become the leading sportsbook provider by 2028. Coverage will soon expand to even more sports to meet operators’ needs.

The post GR8 Tech Powers Smarter Betting with New Match Trackers appeared first on European Gaming Industry News.

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Midnite creates free limited-edition beer for fans to enjoy at World Snooker Championship

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Midnite is the new official UK betting and casino partner of the World Championship, Snooker’s greatest event, which will run from April 19 to May 5.

To celebrate the partnership, Midnite has created a FREE limited edition lager – with one free beer available per person – which will be served at a local pub throughout the tournament.

The one-off lager will be served at The Graduate, an iconic Sheffield pub a short walk from The Crucible, with fans able to enjoy a new beer on tap while the World Championship comes to the city.

Midnite has partnered with London-based brewery Drop Project to bring the concept to life. Drop Project creates the freshest, premium flavoursome beers with consistent high-quality results, and pushes creative boundaries and brews the beers that both inspire their passions for the industry and our lifestyles.

A Midnite spokesperson, commented: “We have worked with Drop Project to bring fans a Midnite lager that they can enjoy throughout the whole tournament. We wanted to create something tangible that snooker fans can enjoy throughout, and to have been able to create our own beer is something we’re pleased with.

“The World Snooker Championship brings real excitement to the city, and fans can head straight from The Crucible, to The Graduate and enjoy a pint or two of our specially brewed lager, just for the occasion.”

Midnite is providing the beer free of charge – one free drink per person of Midnite Lager Only and for ticket holders to the Snooker World Championship (18+). Redeem by showing your matchday ticket at The Graduate. While stock lasts.

The post Midnite creates free limited-edition beer for fans to enjoy at World Snooker Championship appeared first on European Gaming Industry News.

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