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Kambi Group Repurchases 15,000 Shares in January 2024

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Witness a strategic move in the financial world as Kambi Group reaffirms its commitment to creating value for shareholders.

In a resolute step, Kambi has repurchased a total of 15,000 shares during the period from January 9 to January 15, 2024, as part of its ongoing share buyback program. This dynamic initiative, endorsed at the Extraordinary General Meeting in June 2023, aims to elevate shareholder value while enhancing the company’s financial flexibility. Dive into the intricacies of Kambi’s strategic maneuvering as we unravel the significance of this share repurchase.

Share Repurchase Program

Kambi Group, a prominent player in the sports betting and gaming industry, has undertaken a well-defined share repurchase program. This initiative, in accordance with the Maltese Companies Act and other relevant regulations, is geared towards delivering tangible benefits to Kambi’s valued shareholders.

Value Creation

The primary objective of Kambi’s share buyback program is to augment shareholder value. By repurchasing shares, the company seeks to demonstrate its commitment to enhancing the overall financial well-being of its investors. Additionally, this strategic move offers the Board increased flexibility in managing Kambi’s capital structure, a crucial element in navigating the dynamic landscape of the industry.

Methodical Execution

From January 9 to January 15, 2024, Kambi executed the share repurchase program with precision. A total of 15,000 shares were acquired during this period, reflecting a calculated approach to optimize shareholder returns. These shares were secured at a volume-weighted average price of 156.74 SEK, showcasing the company’s strategic financial acumen.

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Cumulative Impact

Kambi’s dedication to value creation extends beyond a single time frame. Since the inception of the program on December 5, 2023, until January 15, 2024, the company has repurchased an impressive total of 112,600 shares. These acquisitions were executed at a volume-weighted average price of 160.94 SEK per share, underscoring Kambi’s commitment to its shareholders’ long-term interests.

Method of Acquisition

All share repurchases have been conducted on the Nasdaq First North Growth Market in Stockholm, facilitated by Carnegie Investment Bank AB on behalf of Kambi. This meticulous approach ensures transparency and adherence to market regulations.

Shareholding and Future Potential

As of January 15, 2024, Kambi held a total of 770,592 of its own shares, underscoring the company’s confidence in its financial strategies. Notably, Kambi’s total number of issued shares stands at 31,278,297. It’s important to note that the share buyback program allows for a maximum repurchase of 3,127,830 shares, up to a total amount of €2.8 million. This provision reflects Kambi’s ongoing commitment to creating value for its shareholders in the foreseeable future.

In a landscape where strategic financial decisions can significantly impact a company’s trajectory, Kambi Group’s share buyback program serves as a testament to its dedication to shareholder welfare and long-term growth.

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Following the completion of her master's degree in publishing and writing, Amanda embarked on her professional journey as an online editor for a prominent gaming blog. Now, she has smoothly transitioned into the iGaming industry, where she plays a vital role in upholding the highest standards of writing in our news pieces. Working closely with senior management, Amanda ensures that our content meets the utmost quality standards.

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EMEA

Danish Regulator Resolves ROFUS Glitch, Ensures Player Protection

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Restoring Trust: Danish Regulator Rectifies Self-Exclusion Error to Safeguard Players

Attention all players and stakeholders in the Danish gambling landscape! Prepare to delve into a critical juncture as the Danish gambling regulator, Spillemyndigheden, embarks on a mission to rectify a grievous error in the national self-exclusion platform, ROFUS. In a bid to fortify player protection and uphold the integrity of the gambling ecosystem, Spillemyndigheden navigates through turbulent waters, confronting challenges head-on to ensure a resilient and trustworthy gaming environment. Join us as we unravel the intricacies of this pivotal moment, poised to redefine the contours of player safety and regulatory compliance.

Rectifying the ROFUS Glitch

Identifying the Error In a startling revelation, Spillemyndigheden unveils a critical flaw in the ROFUS platform, jeopardising the efficacy of the self-exclusion mechanism. The error, which affected the renewal process, resulted in approximately 1,200 registered players gaining unauthorised access to gambling activities at land-based casinos and gaming machines. This egregious oversight struck at the heart of player protection, underscoring the imperative for swift and decisive action.

Addressing Player Concerns Faced with mounting complaints from affected players, Spillemyndigheden swiftly mobilised to redress the grievance and restore faith in the integrity of the self-exclusion system. By implementing comprehensive changes to the ROFUS platform, Spillemyndigheden endeavored to rectify the glitch and fortify the safeguards against potential breaches. Furthermore, the regulator demonstrated transparency and accountability by promptly reporting the incident to the Danish Data Protection Agency, affirming its unwavering commitment to regulatory compliance.

Spillemyndigheden’s Assurance

A Commitment to Excellence In the aftermath of the tumultuous episode, Spillemyndigheden issued a resounding declaration of its unwavering commitment to excellence in service delivery. Describing the incident as “regrettable,” the regulator pledged to redouble its efforts in ensuring the stability and reliability of the ROFUS platform—a cornerstone of player protection in the Danish gambling landscape. Through meticulous oversight and proactive measures, Spillemyndigheden endeavors to cultivate a culture of trust and accountability, placing player welfare at the forefront of its priorities.

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Navigating Through Challenges: Insights from Gambling Revenue Trends

A Landscape in Flux Against the backdrop of regulatory developments, the Danish gambling industry witnessed modest growth in revenue during the fiscal year 2023. With total gambling revenue rising by 1%, amounting to DKK 6.8 billion (€912 million), the industry grappled with dynamic shifts in consumer preferences and market dynamics. Notably, the burgeoning popularity of online casino gaming emerged as a dominant revenue driver, accounting for 45.28% of all Gross Gaming Revenue (GGR), underscoring the evolving landscape of digital gaming experiences.

Trends in Gambling Preferences and Player Behavior

Insights from Regulatory Data Delving deeper into the regulatory data provided by Spillemyndigheden, a nuanced understanding of player behavior and preferences emerges. Despite a marginal decline in betting revenue, online casino gaming experienced a robust surge, with revenue escalating by 5.95% compared to the previous year. This paradigm shift underscores the burgeoning appeal of digital gaming platforms, driven by factors such as convenience, accessibility, and a diverse array of gaming offerings.

Promoting Responsible Gaming: The Role of Self-Exclusion Systems

Upholding Player Welfare As the number of individuals enrolled in the ROFUS self-exclusion system continues to proliferate, Spillemyndigheden reaffirms its steadfast commitment to fostering responsible gaming practices. With over 46,000 individuals enlisted in the program, encompassing both permanent and temporary registrations, the regulator remains vigilant in its efforts to mitigate the adverse effects of problem gambling and provide essential support services through initiatives such as the StopSpillet gambling helpline. Through collaborative endeavors and proactive interventions, Spillemyndigheden endeavors to cultivate a culture of responsible gaming, safeguarding the well-being of players and ensuring the sustainability of the Danish gambling industry.

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