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Kindred Group plc – Trading Update for the Second Quarter 2020

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Kindred Group plc - Trading Update for the Second Quarter 2020
Kindred Group plc - Trading Update for the Second Quarter 2020Reading Time: 2 minutes

 

Kindred estimates gross winning revenue for the second quarter of 2020 of about GBP 235 million (Q2-2019: GBP 226.2 million).

Even though cancelled sports events have affected the second quarter, solid growth in revenues from other products has partly compensated. Substantial growth has been delivered by Kindred’s cutting-edge technology, proprietary Racing platform as well as other events such as eSports, and other virtual sports alternatives (e.g. F1, FIFA events). Sports activities have gradually resumed during the latter part of the quarter. It is probable that Kindred and other online operators have received a temporary benefit from the fact that most offline betting outlets in many countries have been closed throughout the second quarter.

Underlying EBITDA for the second quarter of 2020 is estimated to be in the range GBP 48-53 million (Q2-2019: GBP 30.5 million). The main driver in the expected increase in EBITDA compared to the prior year is the cost reduction actions that Kindred prudently took in connection with marketing, content and other direct costs. While these actions have protected profitability in the short term, now when sports are returning to more normal activity levels, we expect the marketing cost model of the business to normalise as well. It is natural that reducing marketing and related costs produce a short-term profit benefit, but if sustained over a long period then these actions could damage the long-term competitive position of the business.

Betting duties for the second quarter are significantly below the level of the first quarter because the impact of sports cancellations was strongest in France, where tax rates are highest and other betting types are very limited.

Although Kindred has continued to use its strong cash flow to reduce the amount outstanding under the credit facility, the movements in exchange rates have generated a FX loss on the loan balance of GBP 5.1 million in the second quarter of 2020 out of which GBP 0.6 million was realised.

Active customers for the quarter amounted to 1.3 million which was a decrease of 11 per cent compared to the same quarter last year. The decrease was expected as many recreational/occasional players are motivated by sports events.

As communicated at the time of the Q1 report, Kindred’s management will continue to implement a number of operational efficiency initiatives throughout 2020.

The Interim report for the second quarter of 2020 will be published on 24 July 2020. The results presentation and Q&A session will be available through webcast as usual.


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 plc – Trading Update for the Second Quarter 2020

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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Mandalapu Sreesanth Dominates Street Fighter 6 Finale, Secures Main Player Spot for 3rd Asian Youth Games

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The National Esports Championships (NESC) 2025 concluded on July 27 with an electrifying Street Fighter 6 (Boys) finale, where India’s top under-18 talent, Mandalapu Sreesanth, delivered a commanding performance.

Facing off against formidable opponent Ansil Nalakath Abbas, Mandalapu clinched a decisive 3-0 sweep in the best-of-five series, sealing his position as the main player to represent India at the 3rd Asian Youth Games (AYG) in Bahrain from October 22–31, 2025. Ansil will join the contingent as the official substitute for the event.

A seasoned competitor with over four years of professional esports experience, Mandalapu is widely regarded as India’s #1 ranked under-18 Street Fighter 6 player. His decorated track record includes winning the Versus Cup 2024 and emerging as the Khelo India Youth Games Champion, cementing his status as a leading figure in the country’s fighting game community.

This finale was a crucial milestone in the national selection process for the AYG, which will see India compete against the best young talents from across Asia. Both players’ inclusion marks a strong representation for the country in the fighting games category.

Excited to represent India, winner of the Street Fighter 6 tournament, Mandalapu Sreesanth, said: “I’m truly honoured to have secured first place in Street Fighter 6 at the NESC 2025 and earned the chance to represent India at the upcoming Asian Youth Games. This win is not just a personal milestone but also a reflection of the discipline, dedication, and countless hours of practice over the past months. As I prepare for the AYG, my focus is on studying high-level international gameplay, refining my fundamentals, sharpening my reaction time, and deepening my matchup knowledge. I’ve been training with top-ranked players to strengthen both my competitive mindset and in-game adaptability. My ultimate goal is to make the country proud and bring home a medal. The journey has only just begun, and I’m committed to giving it my absolute best.”

Looking ahead to the tournament, Ansil Nalakath Abbas, said, “I’m grateful to the Esports Federation of India for giving me this opportunity. Representing my country is always a matter of immense pride. From the final match, I’ve identified key areas for improvement, and I’ll be working tirelessly in the days ahead to strengthen my gameplay. My focus is on giving my absolute best and making sure I make India proud.”

Speaking on the players’ achievement, Lokesh Suji, Director, Esports Federation of India, said, “We are incredibly proud of both Mandalapu and Ansil for their outstanding performances at NESC 2025. Their skill, dedication, and sportsmanship are a testament to the growing talent pool in Indian esports. Representing India at the 3rd Asian Youth Games is both an honor and a responsibility, and we are confident they will make the country proud. ESFI will continue to provide them with the support and exposure they need to prepare for the challenges ahead in Bahrain.”

The qualifiers for eFootball at NESC 2025 are set to take place later this month, continuing the journey of selecting India’s esports representatives for the 3rd Asian Youth Games.

 

The post Mandalapu Sreesanth Dominates Street Fighter 6 Finale, Secures Main Player Spot for 3rd Asian Youth Games appeared first on European Gaming Industry News.

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GameRamp Raises $5.4M Pre-Seed Round Led by BITKRAFT Ventures

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GameRamp, an AI-native publishing operating system built for the next wave of mobile games & consumer apps, has raised a $5.4 million pre-seed funding round led by BITKRAFT Ventures, and backed by South Park Commons, Mixi, DeVC along other prominent global angels.

The capital raised will accelerate GameRamp’s expansion of its engineering and applied AI teams in the USA and India. The investment will also expedite the launch of two services: Sentinel, an AI platform offering real-time personalization of in-game economies and monetization through reinforcement learning; and Grow, a one-click embedded financing layer to provide developers seamless access to capital.

Founded by Vivek Ramachandran and Sashank Vandrangi, GameRamp empowers developers to experiment and deploy their monetization strategies in a fully-automated fashion. This helps studios drive a 40–60% increase in revenue and scale faster. GameRamp continuously improves in the background, ensuring that the user experience is always optimally tuned.

“Scaling new apps or games has increasingly become hyper-competitive, Developers need to be best-in-class in an array of disciplines outside the core product experience. What if we could turbocharge this with AI?” said Vivek Ramachandran, Co-founder & CEO of GameRamp. “It isn’t just above improving existing processes; it’s enabling a completely new level of experimentation and insight. Our partners across regions like Vietnam, India and Turkey are seeing strong results and we are excited to launch globally in the near future”

Anuj Tandon, Partner at BITKRAFT Ventures, added: “GameRamp’s team embodies a blend of deep expertise across machine learning, product growth and investing. They have a unique perspective on what it takes to win in hyper-competitive markets, and their obsession with developer outcomes shows in their early customer love. This positions GameRamp to fundamentally redefine how consumer internet entrepreneurs scale in emerging markets. As we kick off our deep focus on emerging markets, GameRamp stood out as the obvious partner for one of our first lead investments in the region. Their vision and execution gave us confidence to back them as a global fund.”

 

The post GameRamp Raises $5.4M Pre-Seed Round Led by BITKRAFT Ventures appeared first on European Gaming Industry News.

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One Grand Final – Where Pro Fishing Meets Mobile Gaming

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Fishing Clash and Major League Fishing cast lines across virtual and real world for the MLF Grand Final

From August 4 to 11, Fishing Clash players will dive into the thrill of MLF’s Grand Final through a special in-game event that coincides with the conclusion of the 2025 Major League Fishing Bass Pro Tour season. It’s a unique moment where the world of professional angling meets digital gameplay, closing chapter of the MLF season, both on the water and in-game.

The Fishing Clash Angler of the Year will be awarded during the Bass Pro Tour Stage 7 on Saginaw Bay in Bay City, Michigan. At the same time, Fishing Clash will honor its own champions, awarding exclusive MLF-branded prizes to the game’s top 5 players.

Set on a specially prepared virtual Saginaw Bay fishery, the event coincides with the real-world championship held in Bay City, Michigan, from August 7 – 10. This is the most immersive experience yet for Fishing Clash’s 80 million players, uniting digital gameplay with the drama of professional angling’s biggest stage.

The in-game event consists of three interconnected parts, offering something for every player. The in-game MLF Grand Finals are open only to qualified players who earned at least three of five event tickets over the past six months. These players will face eight days of competitive challenges, with themed fish lists, exclusive vanities, and special offers.

But the MLF Grand Finals are not just for finalists. From August 8 – 11, the MLF Fishing Quest will invite all players to join the action by catching a special MLF fish and earning leaderboard points.

As part of an expanded creator activation, Ten Square Games has partnered with top fishing influencers – Fletcher The Fisherman, Jacob Knowles, and Fishin with Tate – to power the excitement in two waves. In the lead-up to the Grand Final, each influencer will release exclusive video content and share special gift codes that unlock boosters and leaderboard access, encouraging their followers to join the in-game action. For the first time ever, Ten Square Games is inviting all three creators to attend the final stage of the Bass Pro Tour in Bay City, Michigan.

Their on-site presence will offer followers real-time, behind-the-scenes coverage directly from the heart of the event via their Instagram channels. The experience will culminate in a livestreamed announcement of the Fishing Clash Angler of the Year – inviting fans and players alike to share in this milestone moment of the season across both worlds.

Across all activities, players can unlock custom MLF-themed vanities – including avatars, frames, rods, and lures, and win valuable in-game rewards. This unique event celebrates not only the ongoing partnership between Fishing Clash and Major League Fishing, but also the passion and dedication of the game’s player community.

Fishing Clash Angler of the Year: real-world recognition

The Fishing Clash Angler of the Year title is among the sport’s most challenging accolades, rewarding consistent performance throughout an entire season across diverse fisheries. The Bass Pro Tour Fishing Clash AOY must outperform 65 of the world’s best anglers through seven tournaments – showcasing the same versatility and perseverance Fishing Clash players demonstrate in-game.

Fishing Clash will award Angler Of the Year titles across four MLF real life circuits:

  • Bass Pro Tour Fishing Clash AOY,
  • Tackle Warehouse Invitationals Fishing Clash AOY,
  • Toyota Series Fishing Clash AOY,
  • and Phoenix Bass Fishing League Fishing Clash AOY.

This crossover between professional and digital fishing brings both communities together uniting passion, skill, and a love for the sport in an unforgettable finale both in real life and in-game.

 

The post One Grand Final – Where Pro Fishing Meets Mobile Gaming appeared first on European Gaming Industry News.

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