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Kindred Group plc – Interim report: January – March 2024 (unaudited)

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First quarter 2024

  • Total revenue was GBP 307.7 (306.4) million, in line with the first quarter of 2023.
  • Gross winnings revenue (B2C) was GBP 297.6 (297.3) million.
  • Underlying EBITDA increased by 20 per cent to GBP 59.3 (49.4) million.
  • Profit before tax was GBP 39.8 (30.4) million.
  • Profit after tax was GBP 31.4 (25.6) million.
  • Earnings per share were GBP 0.15 (0.12).
  • Free cash flow amounted to GBP 23.7 (29.0) million.
  • Number of active customers increased by 3 per cent to 1,667,564 (1,623,568).

CEO Nils Andén comments on the first quarter of 2024

“We have had a solid start to 2024 with the underlying business operations performing well and operational initiatives moving forward according to plan. The headcount reduction plans announced at the end of last year are progressing as intended and the North America exit is set to conclude towards the end of the second quarter this year. Our growth plan that we launched during the fourth quarter last year, focusing on Europe and Australia, continues at pace with dedicated strategic growth projects across locally regulated markets.”

“Together with the encouraging performance of the B2B business, Relax Gaming, total revenue for the first quarter came in at GBP 307.7 million, in line with the same period last year. Underlying EBITDA for the first quarter came in at GBP 59.3 million, which is a very encouraging increase of 20 per cent compared to the first quarter 2023 and shows the continued positive impact of our cost control focus.”

“During the quarter, we launched the Kindred Sportsbook Platform (KSP) in a test market, and we are very pleased with the progress to date. KSP remains one of our most important strategic projects and will give us the flexibility and differentiation needed to improve growth in locally regulated markets.”

“Our share of Gross winnings revenue from locally regulated markets came in at a new all-time high of 84 per cent, indicating our continued focus to sustainable revenue and our commitment to a positive contribution to societies.”

“Following a solid start to the year we now have our eyes firmly set on a much sought after summer of sports with the UEFA Euros, the Copa America, and the Paris Olympics.”

Trading update up to and including 21 April 2024

The average daily Gross winnings revenue for the Group, up to and including 21 April 2024, was GBP 3.48 million, 6 per cent higher (8 per cent in constant currency) compared to the daily average for the full second quarter of 2023. Excluding North America, Gross winnings revenue is increasing 8 per cent (9 per cent in constant currency).

The sports betting margin after free bets for the above period was 11.3 per cent, which is ahead of the Group long-term average of 9.8 per cent and in line with the 11.3 per cent across the full second quarter of 2023.

The post Kindred Group plc – Interim report: January – March 2024 (unaudited) appeared first on European Gaming Industry News.

George Miller (Gyorgy Molnar) started his career in content marketing and has started working as an Editor/Content Manager for our company in 2016. George has acquired many experiences when it comes to interviews and newsworthy content becoming Head of Content in 2017. He is responsible for the news being shared on multiple websites that are part of the European Gaming Media Network.

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LeoVegas launches sportsbook in Germany and strengthens the foothold in the market

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LeoVegas Group has launched its sportsbook offering in the growing German market, in addition to its popular virtual slot machines vertical. Following the gaming license granted last year, the Group introduced virtual slot machines on LeoVegas.de in one of Europe’s largest igaming markets. The new sportsbook offering will be available across all sixteen German states, strengthening the foothold in Germany. A nationwide marketing campaign will launch in December to celebrate thrill seeking adventures in everyday life. 

LeoVegas Group has launched its sportsbook vertical on the popular brand LeoVegas.de. In recent years, the German igaming market has developed into potentially one of Europe’s largest, and this new addition to the brand will attract sports fans across all sixteen German states, subsequently expanding the existing customer base. Until now, LeoVegas Group has only offered virtual slot machines in Germany, following the gaming license granted last year. In conjunction with the sportsbook launch, a nationwide marketing campaign titled “Thrill Seeker” will premiere across channels such as TV, programmatic, and affiliates. The campaign will humorously showcase how to add excitement and unexpected twists to the monotony of everyday life.

Gustaf Hagman, CEO at LeoVegas Group, said “Launching our sportsbook offering in Germany is a very exciting step for LeoVegas Group as we continue to grow and strengthen our foothold. Germany is one of Europe’s great sports powerhouses, and we are confident players will enjoy LeoVegas.de as a one-stop-shop for the greatest igaming experience.”

The post LeoVegas launches sportsbook in Germany and strengthens the foothold in the market appeared first on European Gaming Industry News.

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Indulge in sweet wins with Playson’s 25 Cookies: Hit the Bonus™

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Playson, the accomplished digital entertainment supplier, is embarking on a mouthwatering adventure in 25 Cookies: Hit the Bonus™, with delectable Bonus Games, lavish multipliers, jackpots and the Hit the Bonus series’ largest-ever 5×5 game field.

A wholesome festive backdrop sets the scene for the engaging Bonus Game, which can be triggered by landing five symbols on the middle row, with a stocking’s worth of rewards ready to unwrap. The Sticky Bonus symbol can appear randomly on the reels during the Main Game and remains until the Bonus Game is triggered.

At the start of each Bonus Game, three re-spins are granted, with each new icon resetting the number of spins to three. This continues until all cells are filled or the player runs out of respins. The Bonus Game is further enhanced by the Multiplier feature, with up to 10 sticky Multipliers able to land on each spin when triggered randomly. Any further multipliers that land on the same cells will increase the multiplier value.

The Extra Bonus Game can be randomly triggered if any Bonus, Sticky Bonus or Jackpot symbols land on the middle row during the Main Game, adding further symbols in quantity enough or more to activate it.

Mystery symbols transform from gifts into Bonus, Jackpot or Boost symbols at random, while the Mystery Jackpot symbols transform into Mini, Minor or Major Jackpot symbols. The Boost symbol is active across both the Bonus Game and Extra Bonus Game, collecting all Bonus, Sticky Bonus and Jackpot symbol values from the reels and adding them to the value. If Multipliers are present, they are applied to the value of the Bonus and Sticky Bonus symbols before collection.

Three gingerbread jackpots can also be earned in the Bonus Game or Extra Bonus Game, when green, blue and purple gingerbread icons land on the reels at random. The corresponding jackpots include Mini Jackpots (10 bets), Minor Jackpots (20 bets) and Major Jackpots (50 bets). If all 25 cells are filled, a Grand Jackpot of x1,000 is awarded.

The Buy Bonus features offer three levels of Bonus Game for different bet amounts. For 50 Bets, players can buy the Bonus Game, while 100 Bets purchases the Extra Bonus Game and 300 the Super Bonus Game.

Vsevolod Lapin, Deputy CEO at Playson, said:25 Cookies: Hit the Bonus™ is a delightful seasonal addition to our Hit the Bonus series, rounding off the year with an expanded 5×5 field that offers more chances to discover thrilling bonus opportunities.

“This is set to be a tasty treat for players this festive season, with twists and turns in the form of multipliers, a trio of Bonus Games and intriguing modifiers.”

The post Indulge in sweet wins with Playson’s 25 Cookies: Hit the Bonus™ appeared first on European Gaming Industry News.

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Amusnet Releases Coin Gobbler – Christmas Edition

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Amusnet has unveiled a great seasonal addition to its Online Casino portfolio, Coin Gobbler – Christmas Edition. It features one of the company’s most likeable characters and a new theme that brings joy and a Christmasy mood.

Once again, the distinguished gentleman Oscar and his favourite pet – the golden piggy – are here. This time, they are set within a fun and colourful Christmas theme to put everyone in the right mood for the upcoming winter holiday season while guiding players through the game and helping them gather the precious Bonus coins. Again, the game features a cluster pay method and a 6×6 layout complemented by high-quality graphics and cheerful sound effects.

Apart from the fruity symbols and the combinations they form on the reels, players should also watch for the Golden Coin, which is the Free Spins symbol, and will help them boost their winnings. All Golden Coins are collected in their piggy bank, and the more coins players collect, the higher level they reach and the more Free Spins they get. The most impatient players can also use the Buy Bonus feature to try out the Free Spins as quickly as possible without collecting the necessary number of coins.

Cluster

A unique type of online slot game that eliminates traditional paylines and features cluster pay mechanics, where a minimum number of matching symbols must appear adjacent to each other horizontally or vertically to form a cluster and secure a win.

Progressive Free Spins

The Free Spins have a round progression feature. Besides the slot screen is a Progression bar with five levels – 2×2, 3×3, 4×4, 5×5 and 6×6. Each level indicates the size of the Wild symbol once reached. All Bonus Coin symbols landing anywhere on the reels are collected until the end of the round, with a new level reached for every 4 Bonus Coin symbols collected.

Buy Bonus

When the “Buy Bonus” button is activated, the player is enabled to buy Free Spins.

Gamble

Play the game and multiply your winning through the Gamble feature!

Jackpot Cards

Once the Jackpot Cards bonus game is triggered, impressive Jackpots are revealed!

The post Amusnet Releases Coin Gobbler – Christmas Edition appeared first on European Gaming Industry News.

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