Kindred Group Release Interim Results for Q1

The Kindred Group who yesterday announced the appointment of Johan Wilsby as their new Chief Financial Officer, who will join the iGaming Operator in the autumn later this year, have this morning released their interim results for quarter 1 of 2020.

Notable financial highlights from the first three months of 2020, include an increase in gross gaming revenue of 11%, up to  £249.7m, from £224.4m for the same period in the previous corresponding year.

Henrik Tjärnström, Chief Executive Officer of the Kindred Group, commenting on the results, stated: “Kindred has delivered a strong first quarter in returning to double-digit growth in Gross winnings revenue of 11 per cent (14 per cent in constant currency).”

“The growth was aided by a higher than average Sports betting margin but underlying performance across all regions was positive. Our focus now is to optimise the business to meet the challenges of COVID-19. In the short-term, we continue to deliver a high-quality service to our customers, while protecting our employees and ensuring business continuity and regulatory compliance.”

With Tjärnström further adding: “As a pure digital company, we are well prepared and ready to take the opportunities that will come when markets start to normalise. I am very confident that Kindred’s well-diversified and financially sound business model will enable us to emerge stronger over the coming quarters.”

Kindred who own and operate popular iGaming brands such as 32Red and Unibet, this morning hosted a webcast presentation at 09:00 CET, which was presented by Tjärnström, going over these latest set of results.

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Simon Wright

Simon Wright

Simon Wright has been both a player and an observer of the online casino industry for over 15 years. His knowledge of the online casino industry – to include sports is massive. Not many folks have the experience or his knowledge about online gambling. His adoration of football is also noted. He has painted his house blue (Chelsea) and annoys his neighbors with local football songs on game days.

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