SiGMA

Kindred Group reports revenue increase by 24%

Posted: Jan 23, 2023 09:48 Category: Europe , Online , Sportsbetting , Posted by Lea Hogg

Malta-headquartered Kindred Group plc announced it will present its report for fourth quarter 2022 on Wednesday 8 February. CEO Henrik Tjärnström will host a web presentation in English at 10.00am.

The company generated €305 million in total group revenue for Q4 2022, a strong increase of 24 percent year-on-year compared to the same period in 2021.

Henrik Tjarnstrom, CEO – Kindred

Kindred reported customer growth by 25 percent to 1.83 million registered customers during the last quarter 2022 as a result of the World Cup in Qatar. CEO Henrik Tjarnstrom said “it is important to remember that the unusual timing of a winter World Cup will distort any direct comparatives”.  Although there were pros and cons to having a winter World Cup, the company reported record-breaking turnover for both sportsbook and casino in December.

Kindred has paused a daily fine from Norwegian regulator Lotteritlisynet of NOK 1.2 million (€111,960) that came into effect on 14 September 2022. The regulator confirmed that it is legal for Norwegian customers to use the operator´s services after a warning that fines would cease when the operator stopped to target consumers in Norway.

Promotions from within

In the meantime Kindred has announced two new C-level appointments by internal promotions.  Rachel Randle-Williams has been promoted to Chief Human Resources Officer replacing Gavin Hayward while Sören Thörnlund has been appointed as new Chief Technology Officer replacing Marcus Smedman. Both Randle-Williams and Thörnlund have worked for Kindred Group for a number of years.

Background

Kindred Group is one of the largest iGaming global operators with 11 online gambling brands. It was established in 1997 as Unibet Group by Anders Strom. The focus of the company is to provide a better and safer digital gambling hub for customers to experience an enjoyable gaming experience.

Kindred is today an established market leader operating in multiple regulated jurisdictions across the globe. It is recognised as a trusted source of entertainment that champions the prevention of harmful gambling.

The company employs about 1400 people. It is listed on the Nasdaq Stockholm Stock Exchange.

 

News – SiGMA

 

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