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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.”
BCLC
Be #GiftSmart: Scratch the Idea of Gifting Scratch & Win Tickets to Kids
BCLC reminds adults to gift responsibly this holiday season
With the holiday season in full swing, BCLC is reminding British Columbians to gift responsibly and scratch lottery products from their shopping lists for kids.
“Scratch & Win tickets can make great stocking stuffers for the adults in your life, but they’re not for kids,” said Ryan McCarthy, BCLC’s Director of Player Health. “The research shows that children who have early encounters with gambling are four times more likely to develop riskier gambling behaviour as they grow up. While people are out shopping for those last-minute gifts, BCLC wants adults to be aware of the potential risks associated with gifting lottery products to children and to consider safer alternatives.”
While Scratch & Win tickets are among the most common ways kids can be introduced to gambling, children are increasingly exposed to various online forms, such as gambling streams.
“With the convergence of gaming and gambling, youth are becoming more exposed to gambling content in online spaces like streaming sites, where creators are able to live-stream their own gambling, usually while playing online slots and instant games,” said Dr. Luke Clark, Director for Gambling Research at UBC. “Our research at the UBC Centre for Gambling shows that a higher frequency of watching online gambling streams is associated with a more positive attitude towards gambling and a high intention to gamble in the future.”
In B.C., it is illegal to sell lottery products to anyone under the age of 19 and BCLC encourages adults to have conversations with the kids in their lives about the risks associated with gambling.
“Open and honest conversations are crucial when it comes to navigating childhood exposure to gambling,” said McCarthy, who shared the following tips to adults:
- Monitor for gambling-related lifestyle changes. For example, developing a positive attitude towards gambling or a preoccupation with video games or streaming sites.
- Be a positive role model. Exhibit safer gambling behaviour and talk about the risks.
- Limit exposure. Monitor kids’ online activities and discourage engagement with gambling content. Explain how gambling is based on chance.
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Face the fury of the deep in Jolly Roger Wild Kraken!
Battle the beast and claim untold riches in Jolly Roger Wild Kraken! This high-seas pirate expedition takes players deep into the Kraken’s lair, where treasures await those brave enough to face the fury of the legendary Wild Kraken.
Play’n GO’s latest release brings back Captain Red Roger in an all-new nautical escapade. Having braved countless dangers in search of treasure, Roger now sets his sights on Kraken Deeps – a perilous archipelago shrouded in mystery and riches. But these waters hold more than gold; they’re guarded by the fearsome Kraken, a sea monster as cunning as it is colossal. Only the most daring players will survive this thrilling battle for the spoils of the deep!
Players will navigate the 5-reel grid, uncovering cascading symbols and triggering rewarding features. From Instant Treasure wins to Cannon Free Spins and the ultimate showdown in Super Cannon Free Spins, each spin brings a chance to fire at the Kraken and unlock multipliers up to a massive x100. With shifting Kraken Wilds and flaming cannonballs, the action never lets up!
Fans of pirate-themed slots such as Jolly Roger 2 and Sea Hunter will revel in this adventurous sequel. The stunning artwork and immersive features bring the pirate legend to life, with every spin showcasing the thrill of maritime exploration. From nautical symbols to the Kraken’s thrashing tentacles, the game’s visuals and narrative create an unforgettable seafaring experience.
Head of Game Retention at Play’n GO, George Olekszy, said: “We wanted to capture the heart-pounding excitement of battling a legendary sea beast, and Jolly Roger Wild Kraken delivers that and more. The cascading reels, thrilling features, and dynamic Kraken Wilds create a truly immersive adventure. We can’t wait for players to set sail with Red Roger and take on the Kraken for some truly epic rewards.”
Jolly Roger Wild Kraken invites players to test their courage on the high seas. Do you have what it takes to face the Kraken and claim the treasures that lie beneath? Spin the reels and find out!
The post Face the fury of the deep in Jolly Roger Wild Kraken! appeared first on European Gaming Industry News.
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GamCare highlights sharp rise in gambling-related issues this Christmas, new research reveals
People with gambling issues are more likely to be turning to the activity this festive period than last year, according to new research from the gambling support charity, GamCare.
In a recent survey from YouGov of over 4,000 UK adults, commissioned by the charity, three-fifths (59%) of those who experience problems due to their gambling** say they are more likely to gamble at Christmas than other times of the year – up from 37% last year.
Advisers on GamCare’s National Gambling Helpline are highlighting how the festive period can be a testing time for those struggling with their gambling, as well as family and friends affected.
Last December, the Helpline saw a 39% increase in calls and online chats compared to the same month in the previous year, making it the busiest Christmas period on record.
Additionally, the survey highlights:
- Over half (53%) of people gambling at harmful levels say they have spent money intended for presents, food, or other seasonal expenses on gambling.
- Nearly three in five people gambling at harmful levels (59%) are more likely to gamble during the festive season compared to just 6% of people who gamble without issues.
- For those gambling at harmful levels more than half (53%) reporting increased feelings of stress or anxiety due to gambling and 56% said that gambling made them feel more isolated.
- Two in three (65%) people gambling at harmful levels have concerns someone in their family or household might overspend on gambling during the festive period. This compares to one in 25 (4%) of those who are not.
Mark Weiss, Deputy Chief Executive, at GamCare said: “The festive period can be a difficult time for those struggling with gambling, but it can also provide a good opportunity to open up about the issues you’re facing. Our new research shows that there has been an increase in people who already have gambling issues saying they are more likely to gamble over the festive period than at other times of the year.
“GamCare’s National Gambling Helpline provides free confidential support 24/7, 365 days of the year – including Christmas Day and the whole of the festive season. There are many ways you can get support, whether it’s calling an Adviser or using our live chat and WhatsApp features in case you are concerned about privacy while family and friends are around.”
GamCare Helpline Advisers often hear about the financial strain caused by early December paydays. One Helpline Adviser said: “An extra temptation to gamble can stem from most people having an early December payday. This, alongside the added financial pressures associated with Christmas, the influence of alcohol, changes in routine, and high-profile sporting events, can conflate the struggles someone with gambling harms may already be going through.”
Another Helpline Adviser said: “There’s a lot of image consciousness around Christmas and people feel the pressure to go further than they can financially afford. Whether it’s presents, food, or family spending, all of these things can lead to debt.
“The anxieties and pressures of Christmas creates a drive to find additional funds. Therefore, some people may be thinking about using gambling to fund the financial pressures that Christmas brings.”
GamCare’s Helpline Advisers are available one-to-one over the phone or on live chat 24 hours a day on 0808 8020 133. People can also get free one-to-one support sessions through the National Gambling Support Network, wherever they are in Great Britain.
The post GamCare highlights sharp rise in gambling-related issues this Christmas, new research reveals appeared first on European Gaming Industry News.
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