Kindred Group Reports Strongest Quarter Ever in Unaudited Q4 2020 Trading Update – European Gaming Industry News
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Kindred Group Reports Strongest Quarter Ever in Unaudited Q4 2020 Trading Update

Niji Narayan

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Kindred Group Reports Strongest Quarter Ever in Unaudited Q4 2020 Trading Update
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Kindred Group has reported its strongest quarter ever with Gross winnings revenue at an all-time high of approximately GBP 365 million (Q4 2019: GBP 236.2 million), representing annual growth of 55%.

This has been achieved through continued strong activity across its markets and products, and record active customer numbers of 1.78 million, an increase of 11% compared to the same quarter in 2019.

Gross winnings revenue growth was also supported by a slightly higher than normal sports betting margin, which was approximately 10% (after free bets) for the quarter, compared to the long-term average margin of around 8.5%.

Underlying EBITDA for the fourth quarter of 2020 is estimated to be approximately GBP 115 million (Q4 2019: GBP 30.7 million) which is significantly higher than the current consensus. The main contributing factors for this increase are the strong revenue growth, combined with Kindred’s continued focus on operational efficiency and costs.

The level of marketing investment has gradually increased during the second half of the year and during the fourth quarter, the total marketing spend was around 13% higher than in Q4 2019. Although marketing spends increased between the third and fourth quarters of 2020, the significant increase in revenue and improved marketing efficiencies have meant that marketing spend was approximately 21% of Gross winnings revenue for the quarter.

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Vermantia Signs Content Deal with Caspian Tech

Niji Narayan

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Vermantia Signs Content Deal with Caspian Tech
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Vermantia, a leader in omni-channel content solutions, has extended its partnership with Azerbaijan’s state-licensed operator, Topaz.

The deal sees Caspian Tech provided with premium live racing betting content from the supplier’s market-leading Ultimate Live Greyhound Channel via its integration into the Vermantia CONNECT platform. On Caspian Tech’s behalf, Vermantia will set-up, and operate the bespoke satellite channel across its 500-strong Topaz branded shop estate.

“Caspian Tech represents a very important partner for us and I would like nothing more than to see us expanding our collaboration together. Topaz customers are now able to enjoy top quality live racing content, complete with high-definition pictures, a powerful bet acceptance system and a full data service,” Spyros Stavropoulos, Commercial Director at Vermantia, said.

“CONNECT has proven to be a game-changer in other markets already, combining the highest picture quality with genuine low-latency in a cost-effective solution that allows the operator to choose exactly what content they need,” Spyros Stavropoulos added.

“Our partnership with Vermantia meets both our quest for a trusted partner with an international content distribution experience and our goal to offer fast-paced and exciting betting products to our customers,” Mustafa Onder, Deputy Technical Director at Caspian Tech, said.

“We are very excited to be launching an upgraded service which we believe will prove to be an immediate hit, and no doubt enhance our retail offering with exciting action-packed betting opportunities,” Mustafa Onder added.

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Dutch Online Gaming Launch Delayed Once Again

Niji Narayan

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Dutch Online Gaming Launch Delayed Once Again
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The Dutch Remote Gambling Act (KOA) has been delayed yet again, with Minister for Legal Protection Sander Dekker pushing the date the law comes into effect back to 1 April 2021, and the date the market opens back to 1 October.

Responding to a series of questions from legislators, Dekker announced that the latest delay was necessary as the Government had realised a slower implementation of the laws may create a stronger environment of regulation.

“Earlier I informed you that we are aiming for entry into force on 1 March 2021. Although the implementation is proceeding energetically, it has now become clear to all involved that careful implementation takes a little more time,” Dekker said.

“For this reason, we shall postpone the entry into force of the Koa Act by one month until 1 April, 2021, so that De Kansspelautoriteit (KSA) and the gambling sector have sufficient opportunity for complete preparation. The opening of the market will then take place on 1 October 2021,” Dekker added.

Initially, KOA was scheduled to enter into law on 1 July 2020, with the market to open six months later at the start of 2021. However, in November 2019, the act’s start date was pushed back six months, meaning the market would open on 1 July 2021.

In September 2020, the launch was pushed back again, with the date the act was set to come into effect moved to 1 March 2021, after preparations to launch had been disrupted by the novel coronavirus (Covid-19) pandemic.

The latest delay is the third, and means the law is now set to come into force nine months later than originally planned.

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Black Spins Relaunches on 888 Network

Niji Narayan

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Black Spins Relaunches on 888 Network
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Casy Digital has completed the migration of their Black Spins site from the Nektan network to the 888 casino network.

Migrating to another network is not uncommon in the case of online casinos. However, Black Spins is different in the sense that they will not be accepting players from the UK, unlike all the other casino sites on the 888 casino network. This certainly does seem to indicate a potential change of focus for this particular network as they seek to reduce reliance on the UK market.

“In teaming up with 888, not only do we have a quality platform and gaming option, we are also with a company who is committed to excellence and share our vision for growing in key markets outside of the UK,” Tommy Dawson, CEO of Casy Digital, said.

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