KINDRED GROUP SAYS Q4 2020 WAS STRONGEST QUARTER YET

Malta-based gambling company Kindred Group has said Q4 2020 was its strongest quarter yet, with gross winnings revenue hitting £365M GBP (approx. €408M), up 55% year-on-year.

In an unaudited trading update, Kindred said it had seen strong activity across its markets and products, with some 1.78M active customers. The company also pointed to a “slightly higher than normal sports betting margin” of 10% compared to an average of 8.5%. 

The company’s focus on improving operational efficiency and reducing costs helped underlying EBITDA for Q4 2020 rise to around £115M, compared to £30.7M in the same period in 2019. 

Although Kindred saw an increase in marketing spend for the quarter, increased revenue and “improved marketing efficiencies”, resulted in it clocking in at 21% of gross winnings revenue 

Kindred’s year-end report for 2020 will be published on 10 February 2021. 

Staying with Kindred Group, in December 2020 Stefan Lundborg resigned from his role as a non-executive director following the Swedish Economic Crime Authority (SECA) opening an investigation into him for alleged insider crime. 

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