Industry News
Kindred Group plc – Interim report January – March 2020 (unaudited)
First quarter highlights
- Gross winnings revenue amounted to GBP 249.7 (224.4) million for the first quarter of 2020, an increase of 11 per cent (14 per cent in constant currency) from the same period last year.
- Underlying EBITDA for the first quarter of 2020 was GBP 42.5 (31.1) million.
- Items affecting comparability of GBP 24.0 million for the first quarter of 2020 included specific charges of GBP 20.7 million recognised as follows:
| GBP ‘m | |
| Personnel restructuring costs | 1.9 |
| Disputed regulatory sanction | 8.0 |
| EBITDA impact | 9.9 |
| Accelerated amortisation of acquired intangible assets | 10.8 |
| Profit before tax impact | 20.7 |
- The result was also impacted by foreign exchange losses of GBP 3.5 million on retranslation of borrowings, of which GBP 3.1 million are accounting unrealised losses.
- Profit before tax for the first quarter of 2020 amounted to GBP 2.4 (17.7) million.
- Profit after tax for the first quarter of 2020 amounted to GBP 1.0 (15.1) million.
- Free cash flow for the first quarter of 2020 amounted to GBP 32.3 (-6.6) million. GBP 36.7 million of borrowings was repaid in the quarter and the net debt position has improved since 2019 to GBP 133.4 million as at 31 March 2020.
- Earnings per share for the first quarter of 2020 were GBP 0.004 (0.067).
- Number of active customers during the first quarter was 1,531,302 (1,631,636).
“A resilient business operating in exceptional circumstances”
“Kindred has delivered a strong first quarter in returning to double-digit growth in Gross winnings revenue of 11 per cent (14 per cent in constant currency). The growth was aided by a higher than average Sports betting margin but underlying performance across all regions was positive. Our focus now is to optimise the business to meet the challenges of COVID-19. In the short-term, we continue to deliver a high-quality service to our customers, while protecting our employees and ensuring business continuity and regulatory compliance.”
“As part of the previously communicated plans to review the Group’s cost base, we have recognised a charge of GBP 1.9 million in the first quarter of 2020 in connection with restructuring costs. We have additionally decided to rationalise the Group’s brand portfolio and have announced the pending closure of several smaller brands. This, together with a wider review of acquired intangibles, has triggered a non-cash charge of GBP 10.8 million in the first quarter.”
“In line with the activity for the second half of March mentioned in our trading update on 2 April 2020, daily revenues for the period from 1 to 19 April have continued to be around GBP 2.2 million. Revenues and margins are less volatile in current circumstances because of the reduced proportion of revenues coming from Sports betting. The largest decline in daily revenues has been in France, which is expected due to its high reliance on sports, but it remains a low margin territory for Kindred because of the high betting taxes.”
“We have seen positive growth in other products and we have acted quickly to adapt our marketing and other investments and to maintain an even tighter control over all operating costs. If we see any further deterioration in the business, we will not hesitate to make further adjustments.”
“As a pure digital company, we are well prepared and ready to take the opportunities that will come when markets start to normalise. I am very confident that Kindred’s well-diversified and financially sound business model will enable us to emerge stronger over the coming quarters,” says Henrik Tjärnström, CEO Kindred Group.
Today, Friday 24 April 2020, Kindred Group’s CEO Henrik Tjärnström will host a web cast in English at 09.00 CEST on www.kindredgroup.com/Q12020. For those who would like to participate in the telephone conference in connection with the presentation, the telephone numbers are UK: +44 33 3300 9034 or in the USA: +1 833 249 8406.
The Kindred Group operates in locally-regulated markets through its gambling licences in the UK, Sweden, France, Belgium, Denmark, Germany (Schleswig-Holstein), Italy, Australia, Ireland, Romania, Estonia, Pennsylvania and New Jersey, as well as other markets internationally through its gambling licences in Malta and Gibraltar. The Kindred Group pays betting duties in all markets in accordance with applicable local laws.
The information in this report is such that Kindred Group plc is required to disclose under the EU Regulation of Market Abuse, MAR.
The latest AskGamblers Complaint Service report for 2024 has officially been released. The comprehensive report highlights the most important accomplishments and records of the AskGamblers Complaint Service team for the previous year.
In 2024, The AGCS team (formerly known as AGCCS) managed to return $6,890,547.11 to players. Over 7259 players turn to AskGamblers, submitting complaints against 1114 casino brands. Out of all the accepted and processed complaints, the team had a 68% resolution success rate. One of the notable milestones that reached was returning a total of $70 million to the members.
Dijana Radunović, General Manager at AskGamblers, said: “It’s amazing to see the trust players put in us year after year, and we’re able to repay them by helping them recover their funds from operators or solve other related issues. We’ve had another successful year, with a few records broken and amazing milestones achieved and we can’t wait to see what lies in store in the years ahead.”
The post Players Reclaim Close to $7M Through AskGamblers Complaint Service in 2024 appeared first on European Gaming Industry News.
SlotsCalendar, a leading name and tastemaker in iGaming, has announced the second edition of the SlotsCalendar Awards. Winners will be announced during the iGC Malaga event in May 2025.
These awards are rapidly gaining significance in the iGaming world as SlotsCalendar’s steady growth, success, and player-centric mentality represent the community’s interest.
Players have approximately a month to vote between the 10th of April and the 12th of May.
For its 2025 edition, the SlotsCalendar Awards Gala returns to the iGaming Club Conference in Malaga, happening on May 28th. The Awards categories for this year are as follows:
• Game Studio of the Year
• The Slot Everyone’s Talking About
• Star Slot in the Making
• Casino of the Year
• Excellence in Bonus Variety
• Industry Standard in Responsible Gambling
• Live Casino of the Year
• Best Sports Betting Platform
• Best New Casino
• Best Crypto Casino
While the idea of iGaming Awards is not new to the industry, the SlotsCalendar Awards are unique for a simple reason: winners are voted by players from the entire iGaming community.
The uniqueness of these awards makes them particularly important in iGaming. Placing the decision-making strictly in the hands of the player is a fundamental shift in the iGaming community.
SlotsCalendar CEO Viorel Stan said: “It’s truly an honor and a privilege to see how our SlotsCalendar Awards have evolved. Last year’s inaugural edition was a crowning achievement for us. It proved how vast and involved our community is, creating a level of engagement that made us incredibly proud. Being able to return to the iGC and reward some of iGaming’s luminaries in the name of the SlotsCalendar Community is beyond gratifying.”
The post SlotsCalendar Announces its Second Awards Edition at iGC Malaga 2025 appeared first on European Gaming Industry News.
DigiPlus Interactive Corp. (DigiPlus) has won seven honours – including five coveted gold awards – at the 2025 Asia-Pacific Stevie Awards. This milestone places DigiPlus among the most awarded companies in the region this year, spotlighting its strategic growth and transformative impact across digital entertainment, social development and investor relations.
The Asia-Pacific Stevie Awards are the only business awards Programme that recognises innovation across all 29 markets in the region. Widely regarded as the world’s premier business awards, the Stevie Awards represent a prestigious recognition of business excellence.
DigiPlus bagged five Gold Stevies for ‘Innovative Achievement in Growth’, ‘Innovation in Investor Relations’, ‘Excellence in Social Impact Companies’, ‘Innovation in Annual Reports’ and ‘Innovation in Corporate Websites’. The company also clinched Silver and Bronze Stevies for ‘Achievement in Product Innovation’ and ‘Innovation in Brand Renovation’ respectively.
At the core of these wins is DigiPlus’ commitment to innovation and digital transformation. From redefining the player experience through localised and immersive content, to launching a refreshed brand identity that resonates with a more connected and tech-savvy user base, DigiPlus has embraced a future-forward mindset. The company’s calculated investments in big data, cutting-edge technologies and stakeholder engagement have not only fueled business growth, but also opened inclusive pathways to digital participation through its social development arm, BingoPlus Foundation.
“This momentous victory at the Asia-Pacific Stevie Awards affirms DigiPlus’ emergence as a true powerhouse of innovation and progress, reshaping industry boundaries and redefining digital consumer engagement on a global scale. Through consistent growth and business performance, DigiPlus reaffirms its unwavering commitment to creating long-term value,” said DigiPlus Chairman Eusebio Tanco.
Winning entries in the Asia-Pacific Stevie Awards undergo a rigorous, multi-layered evaluation by an esteemed panel of judges composed of business and industry leaders across the region.
“The 12th Asia-Pacific Stevie Awards received an impressive array of outstanding entries. This year’s winners have clearly shown their dedication to innovation, and we commend their resilience and imaginative efforts,” said Maggie Miller, President of the Stevie Awards.
The post DigiPlus Bags 7 Wins at the 2025 Asia-Pacific Stevie Awards appeared first on European Gaming Industry News.
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