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Kindred Group plc – Year end report January – December 2018 (Unaudited)

George Miller

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Kindred Group plc - Year end report January - December 2018
Kindred Group's CEO Henrik Tjärnström. / Photo Source: affarsvarlden.se
Reading Time: 3 minutes

 

Fourth quarter and full year highlights

  • Gross winnings revenue amounted to GBP 250.1 (238.0) million for the fourth quarter of 2018, and GBP 907.6 (751.4) million for the full year 2018.
  • Underlying EBITDA for the fourth quarter of 2018 was GBP 58.8 (74.5) million, and GBP 203.7 (185.0) million for the full year 2018.
  • Profit before tax for the fourth quarter of 2018 amounted to GBP 45.0 (55.9) million, and GBP 149.5 (132.0) million for the full year 2018.
  • Profit after tax for the fourth quarter of 2018 amounted to GBP 39.3 (50.8) million and GBP 131.6 (117.4) million for the full year 2018.
  • Earnings per share for the fourth quarter of 2018 were GBP 0.173 (0.223) and GBP 0.580 (0.516) for the full year 2018.
  • Number of active customers during the fourth quarter was 1,568,574 (1,329,124).
  • The Board of Directors propose a dividend of 0.496 (0.551) per share/SDR, which is approximately SEK 5.92 (6.48) per share/SDR and amounts to a proposed distribution to shareholders of GBP 112.5 (125.6) million which is 75 per cent of the Group’s free cash flow for 2018. The dividend will be paid out in two equal instalments in order to facilitate a more efficient cash management.
  • AGM to be held on Tuesday 14 May 2019 in Stockholm.

 

“Strong levels of activity and all-time high in active customers resulted in all-time high for Gross winnings revenue”

“In the fourth quarter of 2018 we have seen strong levels of activity, together with an all-time high in active customers. This has resulted in record Gross winnings revenue, proving that our long-term strategy, to maintain a sustainable business by increasing the number of active customers rather than the ARPU, is paying off. Despite the exceptional sportsbook margin in the fourth quarter of 2017 making the comparatives for this quarter very tough, we have still managed to grow the business by 5 per cent.”

“During the fourth quarter, Gross winnings revenue from mobile grew by 11 per cent compared to the fourth quarter last year and amounted to 74 per cent of our total Gross winnings revenue. Of the Group’s Gross winnings revenue, 45 per cent came from locally regulated markets. For the full year 2018, betting duties increased by 40 per cent with an EBITDA margin of 22 per cent which shows the Group’s ability to absorb betting duties through its focus on scalability and cost control.”

“On 1 January, we successfully went live under the new local license in Sweden with five of our brands and we have also continued to lay the foundation for the USA early this year with the agreement in Pennsylvania. Always planning ahead, the Group prepared for the opening of the Swedish market and enlarged the customer base through bonus offers and marketing investments already from the start of the World Cup last summer. During the first six weeks of 2019, we awarded our Swedish customers with one additional bonus under the terms of the new licensing system, which resulted in new depositing customers up by 166 per cent and active customers up by 97 per cent over the last 90 days. As expected, we can now see the bonus expenditure tail off.”

“For the period 1 January to 10 February 2019, the daily average Gross winnings revenue in GBP was 17 per cent higher (18 per cent in constant currency) than for the full first quarter last year.” says Henrik Tjärnström, CEO of Kindred Group.

Today, Wednesday 13 February 2019, Kindred Group’s CEO Henrik Tjärnström will host a presentation in English at FinancialHearings, Tändstickspalatset, Västra Trädgårdsgatan 15, in Stockholm at 9.00 CET.

The presentation is also webcast live on www.kindredgroup.com/Q42018. For those who would like to participate in the telephone conference in connection with the presentation, the telephone numbers are UK: +44 3333 009 269 or USA: +1 646 722 4956.

The Kindred Group companies hold local gambling licences in UK, France, Belgium, Denmark, Sweden, Germany (Schleswig-Holstein), Italy, Australia, Ireland, Romania and Estonia. The Kindred Group also holds international 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 Directive of Market Abuse Regulation.

 

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Playtech Extends its Bingo Partnership with Rank Group

Niji Narayan

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Playtech Extends its Bingo Partnership with Rank Group
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Gambling technology company Playtech has announced a five-year extension of its partnership with The Rank Group to exclusively provide its Bingo platform in addition to games content.

The new Bingo deal covers Rank’s long-established Mecca Bingo brand, plus two new brands, Lucky Pants and Kitty Bingo.

“Rank is a much-valued Playtech partner and, following Rank’s launch of Playtech’s Poker platform and content, this latest agreement represents a key milestone in our working relationship. With terms also recently agreed to continue delivering Casino services, we’re proud to be providing the technology and content behind all three of Rank’s core verticals, and look forward to continuing to build on our partnership over the next five years,” Angus Nisbet, Director of Digital Bingo at Playtech, said.

“With bespoke content development at the heart of the agreement, we can continue bringing fresh, innovative content to Mecca Bingo players, as well as introducing new and classic content to a whole new audience through the Lucky Pants and Kitty Bingo brands,” Angus Nisbet added.

“We are an entertainment-first brand, so it is imperative that we drive innovation and growth by always exceeding the expectations of our customers. As such, we are delighted to be continuing and extending our long working relationship with Playtech. We continue to build on our market leading position and sustained growth and Playtech has a track record like no other supplier, both as a technology provider and content developer, making them a clear choice as our exclusive long-term Bingo provider,” James Boord, CMO at Rank, said.

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SkillOnNet Launches Turbonino

Niji Narayan

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SkillOnNet Launches Turbonino
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Online casino platform provider SkillOnNet has announced the launch of Turbonino, its second Pay N Play Trustly player registration and verification product, already well established in countries such as Sweden, Finland and Germany.

The brand joins in excess of 100 other Trustly Pay N Play casinos launched to date, with the product bundling deposits and registration in such a way as to allow players to start playing immediately with only their first deposit and no registration being required.

Turbonino boasts a games portfolio of more than 3000 igaming titles from leading suppliers, with players also able to access bonuses, promotions and slot tournaments depending on their geo location.

Michael Golembo, sales and marketing director at SkillOnNet, said: “We have taken our time watching pure Pay N Play become a new standard in the online gambling industry proving hugely popular in markets such as Germany, Sweden and Finland.

“We have experienced them compete alongside our own casinos vying for players and have been impressed with the growth and lately the professionalism many of these Brands are now exhibiting.

“And now it’s Turbonino’s time combining the tremendous benefits of Pay N Play with many features that make SkillOnNet casinos so popular with players around the world.”

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GameArt Joins Stakelogic’s Greenlogic Partner Programme

Niji Narayan

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GameArt Joins Stakelogic’s Greenlogic Partner Programme
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GameArt, the leading provider of high-quality digital gaming products, has partnered with Stakelogic to take advantage of its Greenlogic programme.

GameArt will now have access to over 500 operators worldwide through the Stakelogic developer’s partner platform, significantly boosting GameArt’s global presence and introducing their unique content to new markets.

Offering access to some of the biggest names in the industry, such as Kindred, Pokerstars, GVC and Betsson, the Greenlogic partner platform has already proven extremely popular and gained industry-wide recognition, attracting well established providers and some of the best up-and-coming studios to join its family.

“Our Greenlogic partner program has been an unparalleled success to date, and this is only emphasised by GameArt becoming the latest studio to sign on. It is our aim at Stakelogic to provide the very best gaming content available, either through our own talented in-house studio or via the impressive capabilities of independent studios who may be finding it hard to gain a foothold in such a competitive market place, or choose to fully focus on game development. GameArt is a stellar signing for Greenlogic and we look forward to working with their team for many years to come,” Stephen van den Oetelaar, CEO of Stakelogic, said.

“This is a pivotal moment in GameArt’s history and one which demonstrates the level of excellence our dedicated team have reached in the art of game development. Being able to offer our extensive library of games to even more operators across even more markets is a very exciting prospect, and one which we intend to grasp with both hands,” Stefano Picone, CEO of GameArt, said.

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