Kindred revenue down 34% in Q2

Kindred Group has shared its financial results for the second quarter of the year.

UK.- Kindred Group has reported revenue of £238.7m for the second quarter of 2022, a 34 per cent drop from the same period last year. The group continues to be impacted by the loss of Dutch revenues. Excluding the Netherlands, gross revenue declined by 13 per cent. 

Underlying EBITDA fell 78 per cent to £25.3m, with profit before tax and profit after tax of £7m and £5.8m respectively. The number of active customers was down by 30 per cent from 1,907,276 to 1,336,706.

For the first half of the year, Kindred posted revenue of £485.4m and an underlying EBITDA of £49.8m. Gross winnings revenue was down 34 per cent at £475.9m.

Henrik Tjärnström, Kindred Group CEO, said: “After a period of short-term headwinds, I look to the future with confidence as we see good progress with the Group’s key strategic priorities. 

“We have received our long-awaited Dutch licence, our Kindred Sportsbook Platform (KSP) remains firmly on track, and Relax Gaming continues to show strong numbers. We are also nearing the end of a period of very tough Covid-19 comparatives, which have been giving a skewed view of our performance.”