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The financial report of Kindred Group for Q3 2020

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Kindred acquires Relax Gaming to strengthen its focus on product differentiation and customer experience
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The third quarter of 2020 helped Kindred Group, one of the world’s leading online gambling operators, to regain its growth through a massive rebound due to sports competitions beginning again all over the world.

How exactly did that happen and why?


Here is a detailed financial report of the group for July – September:

For a start, the main takeaway is that the third quarter had a huge growth comparing to Q1 and Q2, given that the majority of the sport events came back in summer. This translated into a rise of 21.2% of the overall sums bet by the players, comparing to the same quarter of 2019.

The amount may be incredible, but the first two quarters were off target. The first (Q1) translated into a loss of 14.7% comparing to the same timeframe in 2019. The second quarter went even more under the 2019 threshold: The decrease was almost 38% comparing to the same 2019 quarter.

The general line of Q3 is this: A strong rebound of sports, and a growth driven by the locally regulated markets.

Speaking of the strong rebound of sports, Kindred Group continued to see a strong demand for sports and entertainment from the customers. Some countries, like France, returned back to the levels recorded at the beginning of the year.

But the Q3 growth wasn’t related only to sports betting, but to activities in casinos – related to games, poker and other products. These activities somehow compensated for the temporary loss in the Sportsbook during the spring decrease.

Poker and casino games continued though to remain strong despite the return of the sports, thus keep on contributing to the overall success for Kindred Group. And all the growth was helped also by the accelerated migration from offline to online.

For instance, casino and games represent more than half of the gross winning revenue for Q3 (52%), but in a solid decrease. That is not a bad sign, instead it is explained by the rebound in live betting for the July – September quarter.

Then there are the locally regulated markets, which drove the growth by +13%, year-to-year. For example, the revenues in Sweden are growing steadily with improving sustainable profit contribution during 2020.

Big focus on the United States

Henrik Tjarnstrom, the CEO of the Group, explained that there is still more besides the strong Sportsbook activity and the locally regulated markets which contributed to the steady growth. For example, the dedicated team continuing to make a difference, and also the encouraging developments in the United States.

The company’s aim is to be live in at least five states by the end of 2021. For example, the launch in Illinois is expected to be in early 2021. Then, in Ohio, the launch will happen most likely later in the same year. At the end of July, Kindred became live in a total of three states after launching in Indiana.

The US is a key investment market where our team have been working hard to go live in our third state, Indiana, during the quarter. (…) It is encouraging to see the continued strong growth in the US, with the market share in Pennsylvania reaching above 5 per cent during the third quarter. With New Jersey and Indiana also growing steadily, I expect the US to become one of Kindred’s largest markets during the next couple of years”, said Tjarnstrom.

So, here are some interesting conclusions after the Q3: The most important is that Kindred Group managed to overcome the difficult moment earlier this year when the industry (and many others) experienced a slippery slope due to the worldwide sanitary measures. Also, the sports returned faster than expected, and the financial position is a strong one at this point. Cost control was, well, under control, and the operators, authorities and regulators will need to cooperate closely for a sustainable gambling market.

Last, but not least, there is this: There are two years of sport coming.

 

About Kindred Group:

Kindred Group is one of the world’s leading online gambling operators with business across Europe, US and Australia, being founded in 1997 by Anders Strom. Its headquarters is in Malta.

The company consists of 11 brands, with Unibet being its flagship. It offers online casino, online poker, and sports betting, with hundreds of events available. The Group has more than 27 million customers, who can enjoy a safe, fair and sustainable form of entertainment.

Kindred Group has more than 1,600 employees, and it is listed on the Nasdaq Stockholm Large Cap. Also, it is a founding member of ESSA – sports betting integrity. The company passed one billion dollars in revenue in 2019, and the numbers are expected to be similar in 2020.

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Thunderkick commits to expansion in Italy with CasinoMania partnership

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Thunderkick commits to expansion in Italy with CasinoMania partnership
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Provider targeting commercial opportunities in Italian slots market

Independent slots studio Thunderkick has partnered with leading operator CasinoMania, making the developer’s games accessible to a new audience as it focuses on enhancing its presence in Italy.

CasinoMania – an operator under parent company Cristaltec Group – is a prominent brand in the country that offers sports betting and a full suite of online casino products, including Live Casino titles, table and card games, and slots from the industry’s most popular providers.

The symbiotic relationship will see the game creator’s exciting and innovative portfolio integrated into CasinoMania’s platform, driving customer engagement for the partner and increasing Thunderkick’s player base in the jurisdiction.

The collaboration marks the latest milestone in Thunderkick’s global growth plans which sees it turn its attention back to Europe following the recent launch in Canada’s regulated Ontario market.

Following a successful opening six months in 2024, the Stockholm-based studio has outlined a desire to amplify its presence in key strategic countries on its home continent, which includes targeting Italy, where the provider hopes to increase its market share to unlock a new collection of players.

Among the games which will become available to CasinoMania players are the recent releases Midas Golden Touch 2, King of the Party, and Sword of Arthur, as well as fan-favourites Xterminate and Hot Potato!

Andrea Brioschi, Key Account Manager at Thunderkick, said: “While there has been a lot of focus on the Ontario and US sweepstake launches, Thunderkick remains committed to fortifying its brand on the European iGaming scene.

“CasinoMania is a respected operator in Italy that has cultivated a catalogue of entertaining games from industry leaders. We are sure the addition of Thunderkick’s unique, cutting-edge titles will only strengthen this offering further.”

Calvi Lorenzo, Member of the Board of Directors at Cristaltec, added: “We are excited to announce the new partnership with Thunderkick, which will allow us to expand our offering of high-quality games in CasinoMania’s online casino, part of the Cristaltec Group.

“This partnership will enable us to provide our customers with a wide selection of excellent games, demonstrating our continuous commitment to exceeding expectations in the iGaming sector.”

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BETBY AGREES LONGTERM MULTI-MARKET CSGO EMPIRE PARTNERSHIP

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BETBY AGREES LONGTERM MULTI-MARKET CSGO EMPIRE PARTNERSHIP
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BETBY, a top-tier sports betting provider, has announced a long-term partnership with Moonrail Limited B.V., a prominent online sports betting company, to support their flagship CSGOEmpire brand.

As part of this collaboration, Moonrail Limited will leverage BETBY’s award-winning sportsbook platform, along with Betby Games’ esports feed, and comprehensive trading and risk management services.

Under the terms of the agreement, BETBY’s technology and services will drive CSGOEmpire’s global multi-channel sportsbook operations.

Stefanos Karakidis, Head of Business Development at BETBY, stated: “We are thrilled to partner with Moonrail, a company recognized as a leading operator in both the sportsbook and esports sectors. We are eager to work closely with Moonrail to continue providing exceptional sports betting experiences to their players.”

Luke M., Head of Sportsbook at CSGOEmpire, commented: “At CSGOEmpire, our primary focus has always been to deliver the fairest experience possible for our users, coupled with the best odds in the market. We are excited about our partnership with BETBY, which will enhance the quality of our offerings and significantly improve the user experience. This collaboration will provide our community with an expanded selection of betting options and a seamless interface, further solidifying CSGOEmpire as a leader in the online betting space. We remain committed to prioritizing our users’ needs and look forward to the innovations this partnership will bring.

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SOFTSWISS Joins Pink October Movement

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SOFTSWISS Joins Pink October Movement
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SOFTSWISS, a global tech company with over 15 years of expertise in iGaming, supports the global Pink October initiative to attract attention to preventing breast cancer.

This year’s Pink October campaign at SOFTSWISS is themed “A Minute Today, a Future Ahead” and emphasises the importance of early detection and preventative care. Breast cancer is the most common cancer affecting women, and early diagnosis is key in the fight against the disease. When it is noticed early, the 5-year relative survival rate is 99%.

Early detection involves doing monthly breast self-exams and planning regular clinical breast exams and mammograms. Half of the 2,000 SOFTSWISS employees are women, and the company will refund each of them for ultrasounds and mammograms in October and November.

Pink October at SOFTSWISS offers a wide range of activities throughout the month. In addition to reimbursing for medical examinations, an online webinar on mental health will provide valuable insights for those who face the disease. To support the international charity movement “Butterfly Support Mission”, women from SOFTSWISS will take part in a themed race.

The company’s employees also personally support the initiative. To further raise awareness, prominent female influencers from the SOFTSWISS community share information about the campaign across social media, amplifying the message of self-care and vigilance.

“Health is a crucial value beyond everything. Here, at SOFTSWISS, we aim to help and support our employees’ well-being and health every day. By promoting the Pink October initiative, we want to stress the importance of well-timed self-care and make this issue visible both within the iGaming industry and beyond,” shares Chief Marketing Officer at SOFTSWISS, Valentina Bagniya.

Notably, the iGaming industry recognised SOFTSWISS’ strong dedication to ensuring the best working conditions for its employees. A few weeks ago, SOFTSWISS received the esteemed accolade “Employer of the Year” at the SBC Awards.

Supporting the Pink October initiative for the second year in a row, SOFTSWISS continues to lead by example, emphasising the importance of preventive health measures and community support. Through this initiative, the company hopes to inspire its employees and society to take action today for a healthier tomorrow. 

 

About SOFTSWISS

SOFTSWISS is an international technology company with over 15 years of experience in developing innovative solutions for the iGaming industry. SOFTSWISS holds a number of gaming licences and provides comprehensive software for managing iGaming projects. The company’s product portfolio includes the Online Casino Platform, the Game Aggregator with over 23,500 casino games, the Affilka affiliate platform, the Sportsbook software and the Jackpot Aggregator. In 2013, SOFTSWISS revolutionised the industry by introducing the world’s first Bitcoin-optimised online casino solution. The expert team, based in Malta, Poland, and Georgia, counts over 2,000 employees.

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