World Cup boosts Kindred revenue for Q2

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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Jake Patel

Gambling Writer

Jake Patel is a journalist and content writer who began his media career as an Editorial Intern at Gambling Insider from June to September 2018. During his internship, he pitched, researched and wrote news stories for the publication’s website, contributing daily coverage on industry developments across the global gambling and iGaming sector.

Jake also produced editorial content for several of the brand’s print titles — including Gambling Insider, Tribal Focus Magazine, Trafficology and US Gaming Focus. His work involved conducting interviews with industry professionals, supporting feature creation, and assisting with editorial content commissioned for advertising partners.

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