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World Cup boosts Kindred revenue for Q2

Kindred Group reported a 31% year-on-year increase in gross winnings revenue for the second quarter of 2018, to £219m ($288m).

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The operator also reported an underlying EBITDA of £41.7m, growing by 25%.

Kindred’s profit after tax amounted to £25.5m, which brings its total profit for 2018 so far to £55.4m.

Profit after tax was £25.5m, up from £20.4m.

Kindred CEO Henrik Tjärnström said: “The World Cup provided a significant all-time high in customer activity and continued strong organic growth, and unexpected results led to a sportsbook margin of 4.2% after free bets.

“Gross winnings revenue increased 24% organically and in constant currencies which means that we are continuing to gain market share. Gross winnings revenue from mobile grew by 29% compared to the second quarter last year and amounted to 72% of our total gross winnings revenue. Of the group’s gross winnings revenue 43% came from locally regulated markets.”

Throughout Q2, Kindred saw over 1.5 million active customers across their 11 brands, which include 32Red, iGame, Unibet and Maria Casino.

32Red contributed £16.9m ($22.2m) in gross winnings revenue for Q2.

Kindred plans to release its Q3 figures on 26 October.

 

 

 

 

 

 

 

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