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Kambi Group reports a lucrative first quarter



kambi group reports a lucrative first quarter

Photo by Frank Busch

It’s no secret that the global legal sports betting industry is in the midst of an impressive boom, especially with the US joining the family. Listed on the Stockholm Stock Exchange, Kambi Group is a company that took full advantage of the legal sports betting gold rush and this week reported its earnings in the first quarter of 2021.

The Kambi Group is one of the best-known technology providers for sports betting worldwide. The company provides the technology and services needed by legal sports betting providers to enable them to offer scalable and high performing sports betting solutions in this era of increasing competition within the space.

Kambi has pointed out its proprietary technology and ability to successfully infiltrate the US market for its recent spike in sales. The Kambi Group currently has contracts with Rush Street Interactive, BetRivers, Penn National’s Barstool Sportsbook, Parx Casino and one of the two US DFS giants, including for their gaming technology products in the US market.

Immerse yourself in the characters

The Kambi Group reports successes for the first quarter of 2021. In a press release, the company indicated a sales increase of 55% over the previous year of USD 33.7 million in 2020. For the first time, the company announced revenue of $ 52.1 million for the first three months of this year.

Operating profit (EBIT) was $ 22.6 million for the first quarter compared to $ 8.2 million in 2020, an increase of 173%. Net income after tax for the period was $ 18.2 million. This is a huge spike in the $ 5.8 million COVID-affected profits reported at this point last year.

Reasons for the increase

The global expansion of the legal sports betting industry is obviously a big reason for Kambi’s better-than-expected first-quarter earnings. Given the state of the global betting scene last year, as the coronavirus pandemic took hold of the industry and society at large, a year-over-year increase is not surprising.

Simply put, when the sports betting calendar is full, Kambi thrives.

“That strong performance was fueled by a busy sports calendar, including the end of the NFL season and the March Madness College basketball tournament,” said CEO Kristian Nylén.

Her increasing presence in the US sports betting scene was also a big driver of Kambi’s Q1 profits. Currently, Kambi technology is used in 14 US jurisdictions, including the heavyweight states of New Jersey, Pennsylvania, and Michigan, where it has five skins.

Go forward

There is nothing but optimism for Kambi as we head into summer and what appears to be the worst of the coronavirus pandemic behind us. Expanding into new markets and strengthening current markets are goals for the company in the near future, particularly in the United States.

“Regulation in the US continues to advance. In the past few weeks and months, progress has been made in various states, particularly New York, where the state has committed to adding online sports betting to its existing retail market. As the first company to process a regulated sports betting company in New York, we are of course closely monitoring the developing situation there and look forward to publishing further details on the licensing framework in due course, ”said Kristian Nylén.

The sports menus

Sports menus are looking as full in the near future as they have been in recent years, minus the juggernaut NFL. In the US, the MLB, NBA and NHL continue to generate interest, and internationally, the upcoming Euro 2020 and Olympics are sure to create some intrigue. It is expected that Kambi and the sports betting that use their technology will benefit directly from this.

“… Our teams are currently preparing for a special summer of sport, with major events such as the delayed Euro 2020, the Copa America and the Olympic Games, as well as the return of the annual summer tournaments such as Wimbledon and The Open. In addition, a full MLB season should take place this year with a high volume of games in the summer months. As always, our partners will have a first-class offer for all sports and competitions, and as sports fans we can be very happy.

Technology providers are the cornerstone of an industry that is currently exploding around the world, especially in an ever-growing US market that is not yet legal for 50% of its population. Kambi will be part of the legal growth of sports betting not just in the US market but around the world in the future.

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Montreal Canadiens coach Dominique Ducharme symptom-free, hopes to return in days



montreal canadiens coach dominique ducharme symptom free, hopes to return in

MONTREAL – Canadien’s interim coach Dominique Ducharme said on Sunday that he had remained symptom-free two days after testing positive for COVID-19 and that he hopes to be back behind the bench during the Stanley Cup semi-final series in Montreal against Vegas.

Ducharme wore a dark blue collared Canadiens shirt, white hair and a familiar short stubble on his chin and spoke to reporters from an unknown location during a 12-minute video conference, his first comments since his mandatory isolation.

“I wish I could be on the rink now. I don’t feel any different than I did a week ago,” said Ducharme as the Canadiens prepared to host Vegas in Game 4 on Sunday night.

Montreal has a 2-1 lead in the series, Game 5 in Vegas is scheduled for Tuesday. If necessary, Game 6 will be played in Montreal on Thursday and Game 7 in Vegas on Saturday.

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Ducharme was asked if he would have to spend 14 days in isolation.

“I’m confident I’ll be back before that,” he said.

Ducharme said he was fully vaccinated against the coronavirus and would end the two-week waiting period after his second vaccination on Wednesday.

It is unclear whether 48-year-old Ducharme will be able to return at this point.

“Until then, nothing has been confirmed. The organization is in contact with the authorities. It is a unique situation. We have been isolated since December,” said Ducharme in French.

Ducharme said no one he had contact with, including his girlfriend, tested positive. He said he was following NHL COVID-19 protocols when the Canadiens traveled to Vegas last week to open the series.

The Canadiens were restricted to certain areas of their Vegas hotel and had to take the bus to and from the ice rink.

Montreal, a member of the NHL’s Canadian North Division, is the only Canadian team to cross the line this season after teams were restricted to play within the division in the second round of the playoffs.

“It’s frustrating because I did everything you asked us to. I never exposed myself. I was so unlucky,” said Ducharme, who is in daily contact with his team and employees by phone and video call.

This is the second straight postseason that Montreal assistant Luke Richardson has had to step in in an emergency. Last summer, Richardson and former assistant coach Kirk Muller shared coaching duties after Claude Julien was hospitalized with chest pain after the first game of the Montreal-Philadelphia first-round series.

Julien missed the rest of the playoffs and resumed coaching that season before being sacked and replaced by Ducharme on February 24th.

It was difficult for Ducharme to watch out of isolation as the Canadiens recovered in Game 3 on Friday with a 3-2 win in extra time after two one-goal deficits.

“You feel helpless to watch and hope for the best. It’s a strange situation,” said Ducharme. “A special situation, but it was a special year. We’ve been through a lot. And we’ll get through that.”

The Canadiens had the worst record of the NHL’s 16 playoff qualifiers before upsetting Toronto and Winnipeg in the first two rounds.

The Golden Knights have already seen this scenario this postseason. Colorado Avalanche coach Jared Bednar missed a morning skate due to a COVID-19 test irregularity and was released in time to coach in Game 6 of the second round series against Vegas.

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Brooklyn Nets Guardian Spencer Dinwiddie wants to turn down the $ 12.3 million player option



brooklyn nets guardian spencer dinwiddie wants to turn down the

Brooklyn Nets Guardian Spencer Dinwiddie plans to turn down the $ 12.3 million player option on his 2021-22 contract and become an unrestricted free agent before the deadline on Monday, sources told ESPN’s Adrian Wojnarowski.

Dinwiddie missed most of the season with a cruciate ligament injury in his right knee and appeared in just three games. He tried to possibly get back to the NBA final, but the Nets were eliminated by the Milwaukee Bucks in the Eastern Conference semifinals on Saturday.

Dinwiddie, 28, has had a history of ACL injuries. During his junior year in Colorado, Dinwiddie tore his left ACL in one game and missed the rest of the season.

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Dinwiddie was a key player for Brooklyn last season, starting in 49 games when Kyrie Irving and Caris LeVert were out injured. He averaged 20.6 points and 6.8 assists in the 2019-20 season but was diagnosed with COVID-19 in late June and did not travel to Orlando with the Nets to restart the season.

The 6-foot-5 Dinwiddie has averaged 12.9 points and 5.0 assists over portions of seven seasons with the Nets and Detroit Pistons.

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The Uganda Olympic trainer tests positive for Covid after arriving in Japan



Uganda Olympic Committee President Donald Rukare said the unnamed trainer had no symptoms. It is not yet clear whether the trainer, who is in a government facility, will be banned from participating or sent home.

The entire Ugandan Olympic delegation, which includes 26 athletes and 30 staff, has been fully vaccinated with two syringes of AstraZeneca, Rukare said.

Many received their second dose of the vaccine this month, about three months after receiving their first dose, Rukare said.

The eight others who arrived with the Covid-positive trainer have traveled to Izumisano City in Osaka Prefecture, where they will be housed, according to Izumisano City official Hideo Takagaki. Rukare said the octet is in a bubble and is being tested daily.

Japan's leading Covid-19 advisor says holding the Olympics without spectators is "he wishes"

More athletes and employees of the Ugandan Olympic team are expected to arrive in Japan in the coming days.

Ugandans are among the first to arrive in Japan ahead of the Tokyo Olympics amid security concerns as the country battles a fourth wave of Covid-19. The Asian host nation has fully vaccinated less than 7% of its population, and doctors are warning that an Olympic super-spreader event could bring Japan’s overburdened medical system to the brink. At least 10,000 of the 80,000 people who have signed up for help with the Games have already stopped, and Japan’s top coronavirus advisor said Friday that hosting the Olympics with no spectators would be “desirable”. Uganda’s Olympic athletes are some of the first people in the African nation to receive the vaccine – Uganda has one of the lowest vaccination rates in the world, with only 2 doses per 100 people. The country of 45 million people is currently battling a second wave with reported cases up 130% in the first two weeks of June. Uganda also has a relatively high test positive rate, with 19% of tests being positive according to Johns Hopkins University, suggesting that authorities are not covering all Covid-19 cases. This week has the Uganda Rugby Union tweeted that the Sevens national team withdrew from an Olympic qualifier in Monaco after reporting Covid-19 cases within the team.

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