Kindred Group Reaches New Earnings Record
The Kindred Group (STO: KIND-SDB) has just enjoyed its best-ever quarter, according to their unaudited accounts just released, with revenue reaching £365 million in the final quarter of 2020 and the number of active customers also climbing to new heights.
More on the Figures
The numbers for the fourth quarter of last year showed annual growth at a rate of 55% when compared to the same quarter in 2019 when £236.2 million was reported as the revenue.
They state that this impressive growth is due to increased activity across the world, in all of the markets and products that they are present in. It has also been pointed out a year-on-year increase of 11% in the number of customers has given them a record total of 1.78 million active clients.
Another part of the reason for their higher revenue was a sports betting margin that was above their long-term average figure, with 10% after free bets have been taken into account. This compares favorably to their usual average margin, which sits at close to 8.5%.
It is also worth noting that their marketing spend was up in the last half of 2020, ending the year at 13% higher than it was at the same time in 2019. Marketing ended up at just over 20% of their gross winnings revenue, and their EBITDA for the final quarter of the year was estimated at £115 million.
About the Group
The Kindred Group is one of the leading online gambling companies, offering casinos, bingo, poker, and sports betting among their options. The group contains some of the best-known online gambling brands, such as 32Red, Bingo.com, and Unibet.
They are registered in Malta but have offices across the world, including in the UK, the US, and Sweden. Their sites are aimed at the global market, and they operate under licenses from several of the main regulatory authorities.