Kambi Imposes Cost Saving Measures
Kambi Group has announced a range of cost saving measures as it seeks to strengthen its financial platform to withstand the impacts of COVID-19
Te cost saving programme includes significantly reduced travel and marketing costs, a freeze on staff recruitment and a substantial reduction in data costs
UK SPORTS BETTING
Kambi Group has announced a range of cost saving measures it has taken as it seeks to strengthen its financial platform and increase its ability to withstand the impacts of the COVID- 19 outbreak and the significantly reduced global sporting calendar for an extended period.
Kambi has previously outlined its strong balance sheet which will enable it to see out a period of reduced sporting action.
While this remains the case, Kambi has decided to take various proactive measures to further solidify this platform and protect its staff, partners and investors for the longer-term.
Despite the impact of COVID-19 on the sporting calendar in the last two weeks of the first quarter, Q1 revenue was strong and is expected to be in the range of €27.5 to 28m. Opex is expected to be €21m to 21.5m, giving EBIT of €6m to €7m. Te cash balance at the end of the quarter was in the range of €45m to 47m.
Te sporting calendar has been severely impacted by COVID-19 since mid-March. Kambi stated that during this period, the company has
seen a level of sporting activity driving revenues in the range of 25 to 30 per cent of those in Q4 2019.
Te timing of a return to normalised activity levels is uncertain at this stage, but Kambi reference recent reports that football leagues including the English Premier League and the German Bundesliga are preparing for a return to action in the coming months.
Kambi has also decided to apply for the financial support packages recently announced by the Swedish and UK governments, both of which are designed to protect jobs. Furthermore, with effect from 1 April 2020, Kambi Board members, the CEO and Executive Management have agreed to salary deferrals of 20 per cent, 15 per cent and 10 per cent respectively.
Based on these savings and several smaller initiatives, operating expenditure in Q2 2020 is anticipated to be in the range of 10 to 20 per cent lower than in Q4 2019. Te cost saving package will also result in associated savings in capitalised development costs of 20 to 30 per cent compared to Q4.
South Africa SBTech partners with
Bet.co.za in South Africa
SBTech has made its first entry into South Africa, launching its full sportsbook and igaming platform with
Bet.co.za, a major online and mobile sports betting brand in South Africa.
Te new offer includes an innovative Lucky Numbers product and an integration with
BetGames.TV, enabling players to bet on live lottery draws and live games, using bespoke, localised payment options.
Te partnership also sees
Bet.co.za take advantage of a tailored trading and risk management strategy localised for the South African market. Te partnership marks SBTech’s entry into another regulated jurisdiction, continuing the firm’s international development strategy.
Andrew Cochrane, Chief Development Officer, SBTech, said: “We are thrilled to enter another
major regulated market with
Bet.co.za, one of South Africa’s premium gaming operators.
“A significant amount of collaborative work has taken place behind the scenes ahead of this migration and going live with
Bet.co.za marks a key milestone in this ongoing partnership.”
Scott Canny, CEO,
Bet.co.za, commented on the agreement: “SBTech is renowned for its cutting-edge technology and by migrating to its platform we will be able to offer our customers an enhanced, elevated and fully customised experience unlike anything else available in the South African market.”
“Our local marketing expertise and SBTech’s product are a perfect match and
Bet.co.za is now positioned to cement its place as the best online bookmaker in the country.”
UK
Greentube has strengthened its presence in the Danish online market after going live with Casino999. A wide range of Greentube’s games are now available on
Casino999.dk via the operator’s Cerberus platform. Titles include Book of Ra deluxe, Lucky Lady’s Charm deluxe and Sizzling Hot deluxe, as well as Apollo God of the Sun, Captain Venture and African Simba. Greentube first went live in Denmark in 2019, and its online casino content has already been proven successful in the country with customers of
RoyalCasino.dk and Videoslots. Sherene Ameen, Regulatory Compliance Officer at Casino999, said: “Partnering with Greentube is a great milestone for us as their games have a proven track-record of success globally, and we are excited about offering their content to our customer base.”
SLOVENIA – Casino software provider Playson has signed a deal to deliver its entire suite of slots to premier technology supplier, Comtrade Gaming.
Playson’s stable of games, including Solar Queen, Rome: Caesar's Glory, Viking Fortune: Hold and Win, along with its popular Funky Fruits series and Timeless Fruit Slots portfolio, will be integrated onto Comtrade’s Enterprise Gaming Platform – iCore.
Alongside its large games portfolio, Comtrade Gaming’s operator network will also have access to Playson’s range of engagement tools, including Seamless Play, Free Spins, Jackpots, and regular tournaments with daily Prize Drops.
Comtrade Gaming’s platform is licensed in Malta, Romania, Spain, Poland and the UK. This new partnership further extends Playson’s reach across regulated markets in Europe.
Steven Valentine, Director of Interactive at Comtrade Gaming commented on the agreement with Playson: “Playson’s games such as Solar Queen and Fruit Xtreme have proved hugely popular with players, and it was a pleasure to sign this partnership with them. Its titles will make a fantastic addition to our Enterprise Gaming Platform - iCore, and we look forward to working with them on future projects.”
NEWSWIRE / INTERACTIVE / MARKET DATA P17
SOUTH AFRICA – Specialist virtual games provider Kiron has integrated its BetMan platform with technology provider SBTech, re-energising their existing partnership.
Kiron’s entire portfolio is now available through SBTech’s platform, adding an extensive variety of virtual sports events, number games and esteemed football content, including its brand-new football product, GOAL, to the existing offering.
SBTech, which provides a sports betting and igaming platform and a full range of management services, will now be able to offer its gaming partners Kiron’s rapid play betting experiences across a diverse range of virtual sports events.
The expansion of the supplier’s portfolio via the BetMan platform further builds on its longstanding partnership with SBTech, which was first established in 2014 and has continued to go from strength to strength.
Steven Spartinos, co-CEO of Kiron, said: “SBTech has been a valued partner of ours for over five years. Expanding the content range available through BetMan reinforces our business relationship and bolsters its platform with a greater range of our quality virtual content at a crucial time.”
EMEA
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