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Kindred Group update on the initial impact of COVID-19

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Kindred Group update on the initial impact of COVID-19
Kindred Group update on the initial impact of COVID-19Reading Time: 3 minutes

 

In light of the exceptional circumstances caused by COVID-19, Kindred is providing the following updates.

Trading update

Kindred has had a good start to the year with gross winning revenue for the first quarter of 2020 estimated to be in the range of GBP 247-252 million (Q1-2019: GBP 224.4 million) unaudited. The gross winning revenue was positively impacted by strong sports betting margins in the period up the disruption of sports in the middle of March 2020. Despite this, the margin before free bets was 12.2 per cent for the quarter, compared to 9.7 per cent in the first quarter of 2019.

The full impact of cancelled sports events was largely effective from 16 March 2020, which resulted in lower sports book turnover, however partially compensated by solid growth in revenues from other products. As a very short-term indication, during the period 16 March to 31 March 2020, the daily average gross winnings revenue was GBP 2.2 million, which was 10 per cent lower than the average for the full year in 2019 (11 per cent in constant currency).

Update on dividend for 2019

Kindred has a good financial position with strong liquidity and low leverage. However, due to the uncertainty caused by COVID-19 and to ensure that Kindred is well capitalized for future investment opportunities, the Board has decided to change the previously communicated proposal on the 2019 dividend and will recommend to the AGM that no dividend is paid.

Operational update

Kindred has taken steps to protect employees and to ensure continuity of operations by adjusting ways of working so that, wherever possible, employees work from home. As a modern technology-based company, this has been achieved with minimum disruption to the business. Kindred is also working closely with all its partners to continue to provide an attractive sports and racing offer where possible and to be ready for normalized levels of sport activity.

Henrik Tjärnström, CEO, comments:

“We expect the impact of the coronavirus on our business to be temporary, with sports activities gradually resuming during or after the summer. In order to reduce the earnings impact of temporarily lower sports revenues, we will adapt our cost base through reduced levels of marketing spend, lower operating costs and delaying certain investments.

While the current situation presents several challenges, I remain very positive about Kindred’s future outlook. Kindred will continue to benefit from a wide geographical reach and a broad product mix as well as a business model which has been resilient during previous times of economic downturns. I also believe that the social and behavioural changes that are already happening will accelerate the migration from offline to online, which will benefit digital operators like Kindred. Our focus on player safety and care for our customers will naturally continue with the same dedication.”

Quarterly Results Presentations

Kindred will publish results for the first quarter on 24 April 2020. The results presentation and Q&A session will be available through webcast as usual. The previously planned physical meeting at Regeringsgatan 25 in Stockholm will not take place. The arrangements for the results announcements for subsequent quarters will depend on the relevant advice from public authorities.

 

About Kindred Group:

Kindred Group is one of the world’s leading online gambling operators with business across Europe and Australia, offering over 26 million customers across 11 brands a great form of entertainment in a safe, fair and sustainable environment. The company, which employs about 1,600 people, is listed on Nasdaq Stockholm Large Cap and is a founding member of the European Gaming and Betting Association (EGBA) and founding member of IBIA (International Betting Integrity Association). Kindred Group is audited and certified by eCOGRA for compliance with the 2014 EU Recommendation on Consumer Protection and Responsible Gambling (2014/478/EU).


Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Kindred Group update on the initial impact of COVID-19

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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Fruits meet Gods in Tom Horn Gaming’s latest release, 243 Zeus Fruits

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Tom Horn Gaming is expanding its portfolio with the release of 243 Zeus Fruits, a slot that combines two proven player favourites – fruit slots and Greek mythology. The game delivers short feature cycles, multipliers, and higher stakes through the supplier’s QuickX mechanic.

Set against the backdrop of Mount Olympus, 243 Zeus Fruits blends the familiar symbols of a classic fruit slot with the power of Zeus. Players can enjoy 243 ways to win, with medium volatility, an RTP of 95.02, and maximum exposure of x100. The Wild 243 Respin feature frequently triggers wins, adding multipliers of up to x5 to maintain engagement and replayability.

The inclusion of QuickX encourages higher bets and appeals to bonus hunters and high-value players, while the game’s mobile-first design ensures smooth play across all devices. These elements combine to offer a straightforward, fast-paced slot that suits a wide range of players.

“243 Zeus Fruits continues our strategy of refreshing proven themes with features that increase both player enjoyment and operator returns,” said Ondrej LapidesCEO at Tom Horn Gaming. “The mix of classic fruit game with a mythological layer provides familiarity with added depth, while QuickX is expected to contribute to longer sessions and higher average revenue per user.”

Targeted at markets across Europe and further afield, 243 Zeus Fruits offers strong cross-sell potential, appealing to a broad audience from fans of traditional fruit slots to players drawn to narrative-based titles. Its combination of simplicity, speed, and modern features positions it as a versatile addition to casino lobbies worldwide.

243 Zeus Fruits will be available to operators worldwide from 28 October.

The post Fruits meet Gods in Tom Horn Gaming’s latest release, 243 Zeus Fruits appeared first on European Gaming Industry News.

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Discipline Meets Drive: Kyrylo Korobka from Ready To Fight Joins GR8 Tech’s Bet It Drives

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Lisbon’s streets set the pace for Season 2 of GR8 Tech’s Bet It Drives—the drive-time podcast where iGaming’s sharpest voices speak freely, in motion. Hosted by Yevhen Krazhan, Chief Sales Officer at GR8 Tech, Episode 3 spotlights Kyrylo Korobka, Executive Director at Ready to Fight by Oleksandr Usyk, for a candid ride through the intersection of boxing, technology, and business execution.

Korobka leads operations at RTF, the ecosystem co-founded by the heavyweight champion Oleksandr Usyk on a mission to digitize boxing. Before, he had a career in international corporations and held a CMO role within a major crypto project. He has helped steer large-scale events and partnerships, including the Usyk vs. Dubois blockbuster, while advancing new tech initiatives like a cross-border payments solution and federation partnerships for the next generation of fighters.

During the ride, Kyrylo opens up about:

  • His role as Executive Director of Ready to Fight
  • Co-organizing a major fight for Oleksandr Usyk and overseeing broadcast, marketing, and operations
  • Partnering with boxing federations and the mission to digitize boxing for the next generation
  • His path from international corporations and a crypto CMO role into sports business
  • Why his day-to-day is more “business” than “sport”
  • What it’s like working with a superstar like Usyk and meeting other legendary athletes
  • A standout partnership: Queensberry Promotions (founded by Frank Warren)
  • How his view of iGaming evolved beyond “just casino”
  • Learning from setbacks: treating failures as lessons and not repeating mistakes.
  • His #1 “champion rule”: discipline and consistency at every stage.

“Boxing at the elite level is discipline, preparation, and execution—exactly how winning platforms are built,” said Yevhen Krazhan, CSO at GR8 Tech and host of Bet It Drives. “Kyrylo shows how Ready to Fight thinks like a tech company: digitize the sport, empower the community, and move fast with the right partners. That’s the GR8 way: performance first, innovation always.

It’s been almost a year since GR8 Tech started its partnership with Ready to Fight. As RTF’s exclusive Partner in Tech, GR8 Tech brings a scalable, high-performance sportsbook and iGaming platform, top event coverage, smart margin management, and a geo-specific approach, while RTF channels champion-level vision to digitize boxing for fighters and fans. Together, they’re rolling out exclusive sports fashion drops, new features, and digital activations to bring the boxing world closer through great tech.

Watch or listen to Season 2, Episode 3 with Kyrylo Korobka on:

Season 2 of Bet it Drives launched with Rasmus Sojmark and kept pace with Tiago Pereira. The podcast continues with the upcoming episode featuring Kelly Kehn.

The next chapter of iGaming belongs to champions who play smart and bold. Meet GR8 Tech at booth 5028-2 during SiGMA Central Europe 2025 in Rome, November 3–6, and discover the Heavyweight Rulebook built for operators ready to scale, localize, and win.

The post Discipline Meets Drive: Kyrylo Korobka from Ready To Fight Joins GR8 Tech’s Bet It Drives appeared first on European Gaming Industry News.

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IAGR announces winners of 2025 Regulatory Awards

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The International Association of Gaming Regulators (IAGR) has announced the winners of the IAGR International Regulatory Awards 2025, with regulators from Australia, Nigeria and Denmark taking home trophies during the IAGR Toronto conference. 

IAGR President Ben Haden, who served on the judging panel, said this year’s winners demonstrate measurable progress and sustainable outcomes.

‘Our judges looked for clear problem definitions, robust interventions and evidence of impact. The 2025 winners show how thoughtful reforms, strong governance and targeted education can improve consumer protection and market integrity over the long term,’ said Haden.

  1. Regulatory Excellence Award: NSW Independent Casino Commission (Australia)
    For leading a three-year, milestone-driven remediation of Crown Sydney following the Bergin Inquiry — eliminating junkets, strengthening financial-crime controls, enhancing harm-minimisation and reforming governance.
  • ‘The NSW Independent Casino Commission is proud to be recognised for its dedication to restoring the expected standards at Crown Sydney. This has included three years of intense remediation which has completely transformed the casino’s governance, culture, safety and compliance functions.
  • ‘The NICC has proven that it is possible to enact long lasting change and in doing so has set a new standard for Australian casino operations.’Murray Smith, Acting Chief Commissioner, NSW Independent Casino Commission
  1. Regulatory Innovation Award: Lagos State Lotteries and Gaming Authority (Nigeria)
    For SAFEPLAY, Africa’s first regulator-led, multi-operator self-exclusion platform — centrally managed by the regulator and integrated with operator systems — creating a consistent, replicable model for consumer protection.
  • We are honoured to receive the IAGR Regulatory Innovation Award for our SafePlay initiative. This recognition reaffirms our commitment to responsible gambling, player protection, and data-driven regulation that puts the welfare of Lagos residents at the heart of our innovation.’ – Bashir A. Are, Chief Executive Officer, Lagos State Lotteries and Gaming Authority
  1. Best regulatory campaign: Danish Gambling Authority (Denmark)
    For an interactive, school-based education programme that engages young people with practical demonstrations and surveys evidencing shifts away from gambling ‘to make money’ towards safer play and awareness of help services.
  • This marks the second consecutive year that the Danish Gambling Authority has received the Best regulatory campaign award. ‘I’m very proud that IAGR has bestowed The Danish Gambling Authority with this award. It’s crucial that young people understand that gambling is designed so the player always loses in the long run. By conveying this message, we hope to promote a balanced attitude toward gambling and I’m extremely honoured that our efforts are recognised internationally.’Anders Dorph, Director, Danish Gambling Authority

These awards underscore the importance of collaboration, innovation and dedication in the global regulation of gambling.

 

The post IAGR announces winners of 2025 Regulatory Awards appeared first on European Gaming Industry News.

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