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Kindred Reports Profit-After-Tax of £15 Million for Q1

Published

6 years ago

April 26, 2019

Niji Narayan

Kindred Group Increases Responsible Gambling Commitment

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Kindred Group Plc, the Malta based online gambling operator, has reported a profits-after-tax of £15 million for Q1 2019. The Stockholm-listed operator maintains its strong group revenue momentum recording “Gross winnings” of £224 million.

Despite maintaining “all-time highs” in customer sign-ups and activity, Kindred properties would be forced to reward all Swedish customers with an additional player bonus, compliant with the terms of the market’s new licensing system.

“All-time high in active customers but, as expected, profits for the quarter significantly impacted by the new local licence in Sweden. During the quarter we have had strong levels of activity across all markets and all-time highs in active customers and Sports betting turnover. This is the result of our continued investment in marketing, where focus has been in relation to responsible gambling in Sweden and football sponsorships in the UK,” Henrik Tjärnström, CEO of Kindred Group said.

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Niji Narayan

Niji Narayan has been in the writing industry for well over a decade or so. He prides himself as one of the few survivors left in the world who have actually mastered the impossible art of copy editing. Niji graduated in Physics and obtained his Master’s degree in Communication and Journalism. He has always interested in sports writing and travel writing. He has written for numerous websites and his in-depth analytical articles top sports magazines like Cricket Today and Sports Today. He reports gaming industry headlines from all around the globe.