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Kindred Group plc – Interim report: January – March 2024 (unaudited)
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.
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Amusnet Releases Coin Gobbler – Christmas Edition
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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Betsson’s Customer Service Team Nominated for Award at the CX Exchange Awards 2024
Betsson Group’s Customer Service team has been shortlisted for the “Best Customer Experience” at this year’s prestigious CX Exchange Awards 2024.
Melissa Zalbeigi, Director of Customer Service Operations at Betsson Group, said: “We are honoured and excited to be nominated for this award. It’s a privilege to be recognised alongside industry leaders and to compete against such esteemed companies. This nomination is a testament to our team’s dedication to providing exceptional customer service.”
The post Betsson’s Customer Service Team Nominated for Award at the CX Exchange Awards 2024 appeared first on European Gaming Industry News.
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Marcus Boyle to Step Down as Chair of Gambling Commission
Marcus Boyle has announced his decision to step down as Chair of the Gambling Commission, with his term set to conclude on 31 January 2025.
Over the past three years, he has led the Commission through a period of change in the industry and regulatory landscape.
During his tenure, the Commission reached several key milestones, including the awarding and launch of the fourth National Lottery licence, which has driven funds raised for good causes to exceed £50 billion. He has also overseen the ongoing implementation of the Gambling Act Review and White Paper aimed at reducing gambling harm, as well as the recruitment of a whole new Board of Commissioners.
In April 2024, the Commission published a comprehensive three-year strategy outlining planned advancements through 2027, focusing on transparency and data use. With the strategy now in motion, Marcus leaves the Commission in a strong position and with a clearly defined path forward.
The Board of Commissioners and colleagues at the Gambling Commission have expressed their gratitude for Marcus’s leadership, dedication, and contributions over the past three years, wishing him well for the future.
The Minister for Gambling, Baroness Twycross, said: “The past three years have been very significant for the Commission, as it takes forward measures set out in the Gambling Act Review and the start of the fourth National Lottery licence.
“I am grateful for Marcus’s hard work and commitment to the Gambling Commission and public service over his tenure and wish him the best for his future endeavours.”
The post Marcus Boyle to Step Down as Chair of Gambling Commission appeared first on European Gaming Industry News.
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