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Kambi Group plc Q3 Report 2022
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.”
Latest News
Legacy of Lost Gold: Explore the Depths of the Jungle With ELA Games’ Latest Release

Swing from the vines, exploring the jungle and its dense foliage for unimaginable riches! Various jungle animals join you in your quest to find gold, where each spin gives you plenty of opportunities.
ELA Games presents its newest release: Legacy of Lost Gold. Are you ready for the adventure?
The Heroes of the Jungle
Legacy of Lost Gold’s crown jewel is its Hold & Win Bonus Game. Here, various jungle companions and heroes show up in the special top row, each bringing their unique power-up to help players on their quest:
- Collect all visible coins for an instant payout
- Boost every coin by +1
- Upgrade the reel below by +1 to +5
- Multiply the reel below by x2
Additionally, respins will continue as long as new symbols land on the main bonus grid, giving players even more chances to stack their treasures high. Each time a hero arrives, the game’s intensity rises as the chance of juicy rewards increases!
ELA Games’ Latest Expedition
Legacy of Lost Gold is an example of the studio’s approach to game development: high-energy gameplay, visually-rich aesthetics, and engaging mechanics so players can have constant fun from the first spin to the last.
Yaroslav Soloshenko, ELA Games’ Business Development Team Lead, commented on the new release, “The team loves looking for new ways to keep players engaged and invested… not just in winning, but in the journey itself. Legacy of Lost Gold adds to the immersion with characters that help along the way, creating an experience that players resonate with. In this game, you’re not just chasing the next win; you feel like the main character, where each spin could be impactful.”
Play Now!
The gold is out there… just waiting for someone to swoop in and take it. It’s not going to find itself! Play Legacy of Lost Gold today and see if you can discover the hidden riches.
The post Legacy of Lost Gold: Explore the Depths of the Jungle With ELA Games’ Latest Release appeared first on European Gaming Industry News.
Latest News
247Bet Is Here: Casimba Gaming Unveils New Sportsbook Brand

Casimba Gaming is proud to announce the launch of 247Bet, a dynamic new sportsbook brand designed to deliver a cutting-edge, multi-channel betting experience.
Casimba Gaming is a leading B2C and B2B iGaming provider, powering more than 20 casino brands with a full-stack platform, including over 6,000 titles from 75+ providers.
Speaking on the launch of 247Bet, Chief Product Officer Jon Liska said, “Building on the success of our leading casino offering, we’re expanding into sports betting to give our customers the ultimate choice in gaming entertainment. 247Bet will offer a seamless customer journey with modern user experiences, giving customers the ability to find the sports, markets, and content they want faster than ever.”
Initially launching under White Hat Gaming’s UKGC licence, 247Bet will cater to the UK market, with strategic plans to expand under the MGA licence to additional markets where Casimba Gaming already operates.
Liska adds, “With 247Bet, we wanted to build a brand that feels fresh, intuitive, and engaging from the very first tap. Our initial focus is the UK, but we will be looking to expand this to wider European markets, key Nordic Sports, principal North American and other global markets.”
Known for its global footprint and with an established integration with White Hat Gaming’s casino platform, Altenar’s platform will be used to power the sportsbook product. Altenar provides a robust solution, equipped with promotional tools and features for a market-leading betting site.
To enhance player engagement, 247Bet is also leveraging Smartico’s industry-leading gamification technology and CRM functionality and is working in partnership with NetRefer to build a high-performing affiliate programme as a key acquisition channel.
Dersim Sylwan, CEO of Casimba Gaming added, “The launch of 247Bet is a proud moment for Casimba Gaming and a natural next step in our evolution. This bold move is part of our vision to create a hero brand with global appeal; delivering a world-class, multi-channel experience that excites players everywhere.”
As part of the long-term strategy, Casimba Gaming is actively hiring a Sportsbook Product Manager to lead the brand’s promotional roadmap, content strategy, and overall performance.
To find out more, visit https://247bet.com/
The post 247Bet Is Here: Casimba Gaming Unveils New Sportsbook Brand appeared first on European Gaming Industry News.
eSports
Lim “Ulsan” Soo-hoon Fights off the Competition to Reign as TEKKEN 8 at 2025 Esports World Cup Champion, Securing Back-to-Back EWC Titles

Lim “Ulsan” Soo-hoon has claimed the TEKKEN 8 at EWC 25 crown having beaten Yoon “LowHigh” Sun-woong in a 5-2 grand final finish. His victory secures DN Freecs their first win at EWC 25 as he takes home $250,000 of the $1,000,000 prize pool.
Lim “Ulsan” Soo-hoon had a strong run at EWC 25, losing just one series against Kim “Kkokkoma” Mu-jong in the first match of the second phase. From that point on, however, he went unbeaten on his way to the grand final, even taking down Kim “Kkokkoma” Mu-jong for revenge on his way back from the lower bracket.
In the semifinals, Lim “Ulsan” Soo-hoon booked his place in the grand final with a 5-3 finish over Kim “CherryBerryMango” Jae-hyun, securing his second EWC TEKKEN 8 grand final in a row. Ulsan showcased his mastery of Dragunov throughout the grand final, setting the scene with a decisive victory in the first set, before taking the title in the seventh set with a 5-2 win.
His grand final opponent, Yoon “LowHigh” Sun-woong, took down Team Vitality’s Jeon “JeonDDing” Sang-hyun in a 5-2 finish to lock his place in the grand final. The former EVO champion displayed his Bryan skills throughout the final against Ulsan, but it wasn’t enough to overcome the overall winner.
“I never expected this. I cannot imagine I would win again. I mean, this year I had a rough start; there was a nerf to Dragunov, I had a lot of difficulties – I wanted to prove myself on this stage, and I have done it,” said Lim “Ulsan” Soo-hoon. “It’s been like a dream to be here. Thank you to those who support me from everywhere, my team, my friends, all my partners, and especially the Kingdom of Saudi Arabia for making this the biggest tournament in the world.”
“I’m still hungry. I just want to make myself a legend,” said Lim “Ulsan” Soo-hoon.
Lim “Ulsan” Soo-hoon secured 1000 Club Championship points for DN Freecs, who, as a result, jumped up to joint-eleventh place in the Club Championship standings, with 1200 points. Despite having three players in the top eight, DN Freecs will only receive one lot of points.
It was a disappointing showing from Team Falcons in TEKKEN 8, as all three representatives were eliminated before earning any points. With only a few games left to earn points, Team Falcons had high hopes for TEKKEN 8. Elsewhere, Twisted Minds, who secured victory earlier in the day in PUBG, failed to make it two for two on Saturday, also failing to score points in TEKKEN 8 as Arslan “Arslan Ash” Siddique was eliminated by overall winner, Lim “Ulsan” Soo-hoon.
The post Lim “Ulsan” Soo-hoon Fights off the Competition to Reign as TEKKEN 8 at 2025 Esports World Cup Champion, Securing Back-to-Back EWC Titles appeared first on European Gaming Industry News.
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