Kindred Group Release Q4 And Full Year

Online gaming company Kindred Group, which this week confirmed a new US alliance with the Fort Yuma Indian Reservation’s Quechan Tribe, has released its Q4 and 2020 full-year performance.

Gross revenue from Q4 winnings amounted to $505.1 million ($327.2 million), a 54 percent rise, while underlying EBITDA was $163.4 million ($42.5 million). Pre-tax income came in at $136.7m ($18.4m) for the year.

Kindred saw the number of active customers hit 1,781,617 (1,603,903) during the full year 2020, while gross income amounted to $1,565m ($1,264m), a rise of 24 percent. The underlying EBITDA for the full year was $397.2 million ($180 million), with a profit before tax of $267.5 million ($92.9 million).

CEO Henrik Tjärnström updated investors, saying: “I am pleased that we can finally put 2020, a difficult year for most people, businesses and countries, behind us. It has certainly been a year we will all remember. 

Several new all-time highs

“At Kindred, we have successfully managed to navigate these uncertain times and have continued to attract customers who enjoy a safe and entertaining gambling experience, resulting in several new all-time highs this quarter including active customers and gross winnings revenue, which increased 54% from the fourth quarter of 2019 to £364.7m ($505.1m).

“The fourth quarter delivered strong results thanks to our scalable business model, continued focus on costs and impressive growth in active customers to 1.78 million. The busy sports calendar and a slightly higher than normal sports betting margin of 10%, together with encouraging growth of 52% in casino & games compared to the fourth quarter of 2019, have all contributed to our notable growth in gross winnings revenue. 

“The sector also firmly established itself in the US market during 2020, and our Unibet brand continues to deliver here according to plan with a gross winnings revenue contribution of £23.8m ($33m) for the full year. Being one of the largest operators in the world, I look forward to our continued journey in the US as Unibet projects to launch in both Illinois and Iowa during 2021.”