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Kambi Group plc Q1 Report 2023
Financial summary
- Revenue amounted to €44.0 (Q1 2022: 36.9) million for the first quarter of 2023
- Operating profit (EBIT) for the first quarter of 2023 was €4.5 (7.3) million, at a margin of 10.3% (19.9%), which was impacted by certain non-recurring costs
- EBITA (acq)* for the first quarter of 2023 was €5.8 (7.7) million, at a margin of 13.1% (20.8%)
- Cash flow (excluding working capital and M&A) amounted to €3.2 (5.5) million for the first quarter of 2023
- Earnings per share for the first quarter of 2023 were €0.107 (0.178)
- The 2023 AGM will be held on 11 May 2023. The Board proposes that no dividend is paid out.
- The Board of Directors decided on 19 January 2023 to adopt long-term financial targets in line with Kambi’s strategic vision
*EBITA (acq) = Earnings before interest, taxation and amortisation on acquired intangible assets
Key Q1 highlights
- Operator turnover and revenue growth of 12% and 19% year-on-year respectively, driven by existing partners and launches into new US states
- Partnership extensions signed with Rush Street Interactive and Corredor Empresarial S.A., two of Kambi’s most strategically important partners
- Successful Super Bowl and March Madness tournament with increased player activity alongside unblemished service delivery
- AI-driven algorithmic trading capability rolled out to major European soccer leagues and other key competitions leading to improved product and greater operational efficiencies
“The first quarter was another busy period for Kambi including new market launches in the Americas, the expansion of Kambi’s partner network and a full sporting calendar. These events helped drive a 12% year-on-year increase in operator turnover and a 19% rise in revenue to €44 million. EBITA (acq) was €5.8 million, impacted by a number of factors including foreign exchange movements and one-off costs to improve future efficiency.
The business hit several important commercial milestones in Q1 as we continue to make significant progress with the key growth drivers detailed at our Capital Markets Day earlier this year. Among these drivers is to extend key partnerships, and I was delighted to secure renewals during the quarter with two of our largest partners in Rush Street Interactive, one of the leading operators in the Americas, and BetPlay owner Corredor Empresarial S.A. which is the market leader in Colombia with plans to expand across Latin America.
Latin America is a region of significant long-term potential for Kambi and will become increasingly integral as we look to extend our lead as the number one supplier across the Americas. Kambi already has a strong foothold in some of the region’s most established sports betting markets such as Colombia and Argentina, and recent public announcements from the Brazilian government show positive signs that regulation of sports betting in Brazil is edging nearer in what is projected to become one of the world’s largest regulated markets.
From a product perspective, Kambi’s expanding AI-driven trading capability is a core component of our vision to redefine what’s possible in sports betting. After a successful roll-out for the soccer World Cup in Q4, this industry-leading method of automated pricing, which blends machine learning with vast amounts of data, was extended to all top European domestic soccer leagues, as well as the Champions League and Europa League. As a result, we can now create more bet offers at a faster delivery speed than the rest of the market, as well as deliver a richer Bet Builder, leading to both a better product and greater efficiencies for the business.
In short, we remain steadfast in our commitment to setting a new standard for sports betting and to pioneer next generation entertainment that eliminates friction and creates new innovative betting options for operators. The road towards our long-term financial targets won’t be linear, but we are carefully putting in place the fundamentals which will enable us to accelerate as we progress. With a market-leading sportsbook that continues to remove product boundaries, a strong sales pipeline and the prospect of further regulation in key markets, I look forward to updating the market over the coming quarters.”
Latest News
Continent 8 leads Sportingtech’s Nutanix cloud migration and cost-efficient virtualisation initiatives
Continent 8 designed, planned and executed full-service VMware-to-Nutanix migration effort, helping Sportingtech avert 42% increase in virtualisation costs
Continent 8 Technologies, the leading provider of global managed hosting, connectivity, cloud and cybersecurity solutions to the iGaming and online sports betting industry, is pleased to announce an expanded partnership with multi-award-winning global betting and gaming provider, Sportingtech. In a strategic collaboration to optimise its virtualisation environment, Sportingtech entrusted Continent 8 to successfully oversee and implement their VMware-to-Nutanix cloud migration initiatives.
In the wake of Broadcom’s acquisition of VMware, Sportingtech encountered an unexpected increase in costs, rising by as much as 42% due to licensing changes. This development significantly impacted the cost structure of their VMware-based virtualised enterprise private cloud architecture. To mitigate against these cost fluctuations, Sportingtech chose Continent 8, a Nutanix Authorised Service Provider and their current cloud infrastructure and cybersecurity services partner, to provide professional and managed services for a VMware-to-Nutanix migration.
Continent 8 executed a comprehensive assessment, prioritisation plan and migration journey of hundreds of virtual appliances. The significant efforts led by Continent 8, in close collaboration with Sportingtech, ensured no disruptions in operations or to users and were completed well within the originally anticipated target date. As a result, Sportingtech now benefits from a more predictable, manageable and cost-efficient virtualisation platform and environment.
Michael Jack, Chief Technology Officer at Sportingtech, said: “We are always looking for ways to enhance the solution we build for our customers and to keep costs down. Working with Continent 8, who constantly push to provide efficiencies, cost reductions and value-added expertise, made good sense to us. They continue to be a valued partner and managed to deliver the project on time with no service interruption for us or our customers, which is critical.”
Justin Cosnett, Chief Product Officer at Continent 8, said: “Continent 8 is able to use its experience with VMware, Nutanix, private and public clouds to provide professional as well as managed services to customers, enabling them to focus on core revenue-generating operations. Being able to demonstrate such a significant saving and ROI will be of interest to many enterprises in today’s market.
“It’s thanks to the experienced and highly qualified project and cloud engineering staff at Continent 8 that we were able to successfully complete this project, while earning Sportingtech’s trust to manage their critical operational infrastructure.”
The post Continent 8 leads Sportingtech’s Nutanix cloud migration and cost-efficient virtualisation initiatives appeared first on European Gaming Industry News.
Cryptocurrency
CryptoWins Supercharges Its Casino with 750+ New Games from 7 Cutting-Edge Providers

More variety, more flavor, more depth — this is the boldest evolution yet for crypto gaming fans
CryptoWins, the go-to crypto-powered online casino, is making a power move this May. CryptoWins officially launches 750+ brand-new games from seven igaming providers, boosting its total game library to a whopping 1,200+ titles — and delivering a content lineup that crypto casino players can’t afford to miss.
To celebrate this epic launch, players can enjoy a 45% match deposit bonus on all slots from the new providers — available now through May 18.
Shortly after CryptoWins turned 1, and already home to fan favorites from Felix Gaming, Rival, Evoplay, and Slotland Entertainment, CryptoWins is now unlocking fresh adrenaline with titles from:
- Eurasian Gaming – A leader in slots, fishing games, and bingo hybrids across Asia and Europe, known for Lady Hawk and Chilli Hunter Bingo.
- Funky Games – Widely recognized in Southeast Asian markets, delivering fast-paced, arcade-style titles and culturally rich slots like Feng Shen. A standout title The Wild Protectors brings Journey to the West to life with iconic characters, wild transformations, and immersive story-driven gameplay.
- ZeusPlay – European-crafted classics with strong math models. Look out for Amun’s Book and Arabian Dream.
- Tada Gaming – Multiplayer arcade games like Crazy Hunter and Fortune Gems are primed for the Gen Z crowd.
- FunTa Gaming – Culturally inspired, mobile-first games like Super Ace are on the rise.
- Apollo Play – Bringing niche appeal with cosmic and retro slots.
- 1Spin4Win – A fresh face offering “Book of” style and fruit slots for fans of the classics.
“This is one of the biggest expansions in CryptoWins history,” said Michael Hilary, Manager at CryptoWins. “We’re not just adding games — we’re adding variety, cultural flavor, and genre depth. Whether you’re here for multiplayer games, arcade shooters, or hybrid bingo, we’ve got your next obsession ready to play.”
From mystical fantasy adventures in Lady Hawk to the wild desert thrills of Arabian Dream, CryptoWins is levelling up the crypto gaming experience with a curated mix of established bangers and underground gems.
Crypto casino players can dive in from May 8 with special bonuses, seamless crypto deposits, and mobile-first gameplay across the board. The new era of CryptoWins is here!
NEW SLOTS BONUSES
Bonuses Valid May 8-18
45% MATCH BONUS
* On deposits $30-150
* Wagering Req: 47x
* Redeem Count 8x
* No Max Cashout
* Available on Games by 7 new providers
* Bonus Code: NEWSLOT
77% MATCH BONUS
* On deposits $90-600, 44% on deposits $40-89, 33% on deposits $25-39
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Bluberi Gaming
Design Works Gaming and Bluberi Gaming Announce Monumental Partnership

Two proven game technology companies are joining forces in what promises to be a devilish collaboration that disrupts the iGaming industry.
Design Works Gaming (DWG) and Bluberi Gaming announced an exciting partnership that will bring together DWG’s chart-topping LuckyTap mechanic and Bluberi’s top-performing titles.
Fueled by a unique mix of creativity, innovation and undeniable player appeal, Bluberi has made waves with their iconic games, including their breakout hit Devil’s Lock.
Enter DWG — the team behind the proprietary LuckyTap mechanic. Known for blending simplicity with explosiveness, DWG’s games consistently top the charts and deliver next-level engagement.
“Devil’s Lock has always topped our favorites list when we hit the casino floor as a team. And just a few months ago, as we were trying our luck with the Devil, inspiration struck. We knew we could turn up the heat and reimagine this fan-favorite as a high-voltage LuckyTap,” said founder and CEO of DWG Troy Zurawski. “Bluberi brings the legendary IP, and we bring the power of LuckyTap
.”
This partnership kicks off a new era for both companies—one where creative chaos reigns and boundaries are pushed. Together, DWG and Bluberi are cooking up gameplay that’s bold, mischievous and unruly.
“Partnering with Design Works Gaming marks a new milestone in iGaming for Bluberi’s iGaming strategy,” said Scott Richards, VP of Commercial Strategy at Bluberi. “DWG’s LuckyTap is a proven game-changing technology that pushes boundaries and resonates with Bluberi’s approach to developing unique gaming experiences. Our teams share a passion for pushing boundaries and delivering unforgettable player experiences. We can’t wait to unveil what we’re creating together.”
The post Design Works Gaming and Bluberi Gaming Announce Monumental Partnership appeared first on Gaming and Gambling Industry in the Americas.
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