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Kindred Group plc – Interim report: January – March 2024 (unaudited)

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First quarter 2024

  • Total revenue was GBP 307.7 (306.4) million, in line with the first quarter of 2023.
  • Gross winnings revenue (B2C) was GBP 297.6 (297.3) million.
  • Underlying EBITDA increased by 20 per cent to GBP 59.3 (49.4) million.
  • Profit before tax was GBP 39.8 (30.4) million.
  • Profit after tax was GBP 31.4 (25.6) million.
  • Earnings per share were GBP 0.15 (0.12).
  • Free cash flow amounted to GBP 23.7 (29.0) million.
  • Number of active customers increased by 3 per cent to 1,667,564 (1,623,568).

CEO Nils Andén comments on the first quarter of 2024

“We have had a solid start to 2024 with the underlying business operations performing well and operational initiatives moving forward according to plan. The headcount reduction plans announced at the end of last year are progressing as intended and the North America exit is set to conclude towards the end of the second quarter this year. Our growth plan that we launched during the fourth quarter last year, focusing on Europe and Australia, continues at pace with dedicated strategic growth projects across locally regulated markets.”

“Together with the encouraging performance of the B2B business, Relax Gaming, total revenue for the first quarter came in at GBP 307.7 million, in line with the same period last year. Underlying EBITDA for the first quarter came in at GBP 59.3 million, which is a very encouraging increase of 20 per cent compared to the first quarter 2023 and shows the continued positive impact of our cost control focus.”

“During the quarter, we launched the Kindred Sportsbook Platform (KSP) in a test market, and we are very pleased with the progress to date. KSP remains one of our most important strategic projects and will give us the flexibility and differentiation needed to improve growth in locally regulated markets.”

“Our share of Gross winnings revenue from locally regulated markets came in at a new all-time high of 84 per cent, indicating our continued focus to sustainable revenue and our commitment to a positive contribution to societies.”

“Following a solid start to the year we now have our eyes firmly set on a much sought after summer of sports with the UEFA Euros, the Copa America, and the Paris Olympics.”

Trading update up to and including 21 April 2024

The average daily Gross winnings revenue for the Group, up to and including 21 April 2024, was GBP 3.48 million, 6 per cent higher (8 per cent in constant currency) compared to the daily average for the full second quarter of 2023. Excluding North America, Gross winnings revenue is increasing 8 per cent (9 per cent in constant currency).

The sports betting margin after free bets for the above period was 11.3 per cent, which is ahead of the Group long-term average of 9.8 per cent and in line with the 11.3 per cent across the full second quarter of 2023.

The post Kindred Group plc – Interim report: January – March 2024 (unaudited) appeared first on European Gaming Industry News.

Belatra Games

From ‘Mummyverse’ to Crash Games: Belatra Reviews a Landmark 2025

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Editor’s Take

Why this matters: Belatra has been a steady hand in the slots world for a long time, but 2025 marked a distinct shift in strategy. By entering the Crash vertical with Goose Boom Bang and winning big at SiGMA Africa, the studio is clearly pivoting to capture the high-growth, high-frequency players in emerging markets. They are no longer just a “classic slots” developer; they are diversifying the portfolio to ensure relevance in regions like LatAm and Africa.

The Full Story

Belatra Games, the specialist online slots developer, has issued a strategic review of its 2025 operations, celebrating a 12-month period defined by entry into new game verticals, significant franchise expansion, and high-profile industry recognition.

The year was characterized by a dual strategy: deepening engagement in established markets while aggressively expanding its content portfolio to suit local preferences in emerging territories.

Portfolio Evolution: Crash and Battles 2025 saw Belatra move beyond its traditional slot roots. The company made its debut in the high-demand Crash game vertical with the launch of Goose Boom Bang, a title designed to tap into the fast-paced gameplay preference of younger demographics.

Additionally, the studio introduced a fresh game concept with the launch of Battles, a new format unveiled for the first time in 2025, with further development planned for 2026.

The ‘Mummyverse’ Expands For fans of classic slots, the highlight of the year was the aggressive expansion of the Mummyverse. Belatra nearly doubled the size of this franchise over the year, making it the most extensive game universe in their entire catalog.

The developer also focused on B2B localization, releasing a number of exclusive bespoke games created specifically for selected operator partners to meet specific local market tastes.

Awards and Recognition The company’s strategic shifts were validated by industry accolades. Belatra secured over 30 nominations throughout the year, with standout wins including:

  • Best Slot Provider (awarded by BitStarz).

  • Most Played Game of 2025 for Make It Gold at the SiGMA Africa Awards.

  • Player’s Pick Award.

Management Commentary Misha Voinich, Head of Business Development at Belatra, commented on the studio’s momentum:

“This year has truly defined who we are as a studio – ambitious, creative and focused on building long-term partnerships. We’ve expanded our universes, launched new ones and entered exciting new markets that will all help us carry this momentum into the New Year.”

The post From ‘Mummyverse’ to Crash Games: Belatra Reviews a Landmark 2025 appeared first on Gaming and Gambling Industry Newsroom.

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BMM Testlabs

‘Chaos and Soul’: Ebaka Games Plots Global Expansion After Viral Launch

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Editor’s Take

Why this matters: The “Instant Game” vertical (Crash, Plinko, Mines) is becoming crowded, but Ebaka Games is cutting through the noise with a distinct brand personality. By securing BMM Testlabs certification so quickly after launch, they are signaling to Tier 1 operators that despite their “chaotic” marketing vibe, the math underneath is solid and compliant. The backing of industry veteran Dmitry Belianin also adds immediate commercial credibility to the startup.

The Full Story

Ebaka Games, the fledgling studio that promises to bring “chaos and soul” to the iGaming sector, has outlined an aggressive growth strategy for 2026 following a landmark launch period in late 2025.

The studio, which officially debuted in November, reports that its initial rollout reached more than five million people worldwide. The launch saw its portfolio go live with the operator Menace, serving as the initial testbed for its mechanics and “Ebaka modes.”

The Product: Instant Games with Personality Ebaka is bypassing traditional slots to focus on the high-growth vertical of fast-paced, instant-win games. Their initial lineup includes:

  • Plinko

  • Mines

  • Tower

  • Limbo

  • Crash

Differentiation is achieved through unique mascots and signature gameplay tweaks designed to offer high win potential and distinct visual identities, moving away from the generic interfaces often found in this genre.

Regulatory Milestone Crucially for its 2026 roadmap, Ebaka Games has confirmed it has secured certification from BMM Testlabs. This accreditation validates the fairness and integrity of its RNG (Random Number Generator) and game engines, removing a major barrier to entry for regulated markets. With this certification in hand, the studio plans to launch with a number of “major brands” in the coming year.

Management Commentary Vitalii Zalievskyi, CEO of Ebaka Games, commented on the studio’s unorthodox approach:

“It’s only been a few weeks since we first introduced Ebaka Games to the world. The feedback has been breathtaking, and it vindicates the decision for us to take a different path to the rest of the industry. You don’t need huge marketing budgets to grab people’s attention if you are building something truly innovative.”

Industry Backing The studio describes itself as being “created by players for players” but boasts significant industry firepower in its corner. The team includes Dmitry Belianin, a well-known figure in the sector who is the co-founder of Blask and Menace, as well as Managing Partner at Already Media.

The post ‘Chaos and Soul’: Ebaka Games Plots Global Expansion After Viral Launch appeared first on Gaming and Gambling Industry Newsroom.

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ARC

Racing Meets Nightlife: SBK Backs ARC’s New ‘Friday Night Live’ Series

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Editor’s Take

Why this matters: British racing has a well-documented demographic problem; its core audience is aging. “Friday Night Live” is a direct attempt to fix this by blending high-stakes racing with the “experience economy” (DJs, nightlife vibes) that appeals to Gen Z and Millennials. Bringing SBK on board—a mobile-first, app-only sportsbook—is a perfect demographic fit, while the Racing Post adds the necessary credibility to ensure the actual racing product remains the focus.

The Full Story

Arena Racing Company (ARC) has unveiled the strategic commercial lineup for its upcoming Friday Night Live series, confirming SBK as the Exclusive Betting Partner and The Racing Post as the Official Media Partner.

Set to launch in January 2026, Friday Night Live is a new initiative created in collaboration with youth-focused events company INVADES. The series is designed to overhaul the traditional race day experience, featuring fast-paced fixtures under floodlights, DJ sets, and significant entertainment elements sandwiched between races.

The Commercial Deal

  • SBK: As the exclusive betting partner, the Smarkets-owned sportsbook will take naming rights and on-course branding for all 35 races. Crucially, these races will be broadcast live on mainstream television via ITV Racing as well as Sky Sports Research.

  • The Racing Post: As the Official Media Partner, the publication will provide content, coverage, and promotion across its digital platforms, aiming to bridge the gap between established racing purists and the new audience ARC hopes to attract.

A High-Stakes Experiment The series is not just a marketing exercise; it carries serious sporting weight. Each of the five scheduled nights will feature over £200,000 in prize money. The fixtures will rotate across three of ARC’s all-weather tracks: Wolverhampton, Newcastle, and Southwell.

Management Commentary David Leyden Dunbar, Group Director of Commercial Strategy at ARC, was clear about the target audience:

“We have been very clear that one of the aims of Friday Night Live is to engage the next generation of racing fans… Both [partners] have shown real enthusiasm to work with us… as well as using the platform that these fixtures will offer them to also engage with more established racing and sports fans.”

Adam Baylis, Marketing Director at SBK, added:

“Friday Night Live [is] a fresh and engaging concept that brings a new energy to British racing. SBK has always been built around sport… our focus is on enhancing the live race day experience in a fun, social and responsible way.”

The 2026 Schedule The series kicks off immediately in the new year:

  • 9th Jan: Wolverhampton

  • 6th Feb: Newcastle

  • 20th Feb: Southwell

  • 20th March: Wolverhampton

  • 27th March: Newcastle

The post Racing Meets Nightlife: SBK Backs ARC’s New ‘Friday Night Live’ Series appeared first on Gaming and Gambling Industry Newsroom.

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