Industry News
Kindred Group plc – Interim report January – March 2020 (unaudited)
First quarter highlights
- Gross winnings revenue amounted to GBP 249.7 (224.4) million for the first quarter of 2020, an increase of 11 per cent (14 per cent in constant currency) from the same period last year.
- Underlying EBITDA for the first quarter of 2020 was GBP 42.5 (31.1) million.
- Items affecting comparability of GBP 24.0 million for the first quarter of 2020 included specific charges of GBP 20.7 million recognised as follows:
| GBP ‘m | |
| Personnel restructuring costs | 1.9 |
| Disputed regulatory sanction | 8.0 |
| EBITDA impact | 9.9 |
| Accelerated amortisation of acquired intangible assets | 10.8 |
| Profit before tax impact | 20.7 |
- The result was also impacted by foreign exchange losses of GBP 3.5 million on retranslation of borrowings, of which GBP 3.1 million are accounting unrealised losses.
- Profit before tax for the first quarter of 2020 amounted to GBP 2.4 (17.7) million.
- Profit after tax for the first quarter of 2020 amounted to GBP 1.0 (15.1) million.
- Free cash flow for the first quarter of 2020 amounted to GBP 32.3 (-6.6) million. GBP 36.7 million of borrowings was repaid in the quarter and the net debt position has improved since 2019 to GBP 133.4 million as at 31 March 2020.
- Earnings per share for the first quarter of 2020 were GBP 0.004 (0.067).
- Number of active customers during the first quarter was 1,531,302 (1,631,636).
“A resilient business operating in exceptional circumstances”
“Kindred has delivered a strong first quarter in returning to double-digit growth in Gross winnings revenue of 11 per cent (14 per cent in constant currency). The growth was aided by a higher than average Sports betting margin but underlying performance across all regions was positive. Our focus now is to optimise the business to meet the challenges of COVID-19. In the short-term, we continue to deliver a high-quality service to our customers, while protecting our employees and ensuring business continuity and regulatory compliance.”
“As part of the previously communicated plans to review the Group’s cost base, we have recognised a charge of GBP 1.9 million in the first quarter of 2020 in connection with restructuring costs. We have additionally decided to rationalise the Group’s brand portfolio and have announced the pending closure of several smaller brands. This, together with a wider review of acquired intangibles, has triggered a non-cash charge of GBP 10.8 million in the first quarter.”
“In line with the activity for the second half of March mentioned in our trading update on 2 April 2020, daily revenues for the period from 1 to 19 April have continued to be around GBP 2.2 million. Revenues and margins are less volatile in current circumstances because of the reduced proportion of revenues coming from Sports betting. The largest decline in daily revenues has been in France, which is expected due to its high reliance on sports, but it remains a low margin territory for Kindred because of the high betting taxes.”
“We have seen positive growth in other products and we have acted quickly to adapt our marketing and other investments and to maintain an even tighter control over all operating costs. If we see any further deterioration in the business, we will not hesitate to make further adjustments.”
“As a pure digital company, we are well prepared and ready to take the opportunities that will come when markets start to normalise. I am very confident that Kindred’s well-diversified and financially sound business model will enable us to emerge stronger over the coming quarters,” says Henrik Tjärnström, CEO Kindred Group.
Today, Friday 24 April 2020, Kindred Group’s CEO Henrik Tjärnström will host a web cast in English at 09.00 CEST on www.kindredgroup.com/Q12020. For those who would like to participate in the telephone conference in connection with the presentation, the telephone numbers are UK: +44 33 3300 9034 or in the USA: +1 833 249 8406.
The Kindred Group operates in locally-regulated markets through its gambling licences in the UK, Sweden, France, Belgium, Denmark, Germany (Schleswig-Holstein), Italy, Australia, Ireland, Romania, Estonia, Pennsylvania and New Jersey, as well as other markets internationally through its gambling licences in Malta and Gibraltar. The Kindred Group pays betting duties in all markets in accordance with applicable local laws.
The information in this report is such that Kindred Group plc is required to disclose under the EU Regulation of Market Abuse, MAR.
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SEGG Media Corporation, a leading technology company transforming the global intersection of sports, entertainment, and gaming, has selected IBN, a multifaceted financial news and publishing company serving private and public entities, to spearhead its corporate communications efforts.
SEGG Media aims to deliver immersive, real-time experiences through next-generation technology that redefines how audiences interact with their favorite content and communities. Following a full-scale corporate transformation and rebrand, the company now operates across three high-growth verticals: Sports.com, Entertainment, and Lottery.com.
Sports.com serves as a global hub for sports content with a focus on soccer, sim racing, motorsports, and athlete-led media, with the upcoming Sports.com Super App poised to evolve fan engagement by integrating streaming, e-commerce, fantasy gaming, and sports news. The Entertainment division builds on AI-powered live events and direct-to-fan platforms, while Lottery.com delivers compliant, ethical gaming solutions including iGaming and charitable lottery access to global audiences.
With a $100 million financing facility and strategic acquisitions underway, including proposed deals with GXR World and DotCom Ventures, SEGG Media is executing a multi-vertical expansion strategy designed to unify fragmented fan experiences across live content, gaming, and digital commerce.
As part of the client-partner relationship, IBN will leverage its investor-focused distribution network, which includes over 5000 key syndication outlets, various newsletters, social media channels, and wire services via InvestorWire, along with blogs and other outreach tools, to generate greater awareness for SEGG Media.
The post IBN Initiates Coverage of SEGG Media Corporation appeared first on Gaming and Gambling Industry in the Americas.
Polymarket, the world’s largest prediction market, announced that it has closed an acquisition of the holding company of a Commodity Futures Trading Commission-licensed derivatives exchange (QCX LLC) and clearinghouse (QC Clearing LLC) (collectively QCEX) for $112 million. The transaction marks a significant step toward expanding access to Polymarket’s category-defining platform in the US, enabling more users than ever to trade prediction market contracts with regulatory clarity and confidence.
“Polymarket is the largest prediction market globally and has become synonymous with understanding the probability of current events. Demand is greater than ever — not just in user growth and trading volume, but in how mainstream audiences are turning to Polymarket to separate signal from noise, bias, and speculation. Now, with the acquisition of QCEX, we are laying the foundation to bring Polymarket home — re-entering the US as a fully regulated and compliant platform that will allow Americans to trade their opinions,” said Shayne Coplan, Founder and CEO of Polymarket.
“When we began the process to obtain our DCM & DCO licenses over 4 years ago, the prediction market was in its infancy. But we have long believed in its potential to change the way people access and understand information and express their views on that information. Shayne has built a cultural phenomenon in Polymarket. I am excited to bring our companies together and leverage our licenses, technology, and expertise in the retail trading sector to help Polymarket reach its full potential,” said Sergei Dobrovolskii, Founder of QCEX.
Polymarket has continued to build significant momentum as the world’s largest prediction market and a trusted source of real-time information. In the first half of 2025 alone, users have already made about $6 billion in predictions on the platform. Most recently, Polymarket announced an official partnership with 𝕏, further solidifying its position at the intersection of politics, markets, and culture.
The acquisition of the QCEX entities paves the way for U.S. users to access Polymarket in the near future within a fully regulated, US-compliant framework. As prediction markets continue to gain mainstream relevance, Polymarket remains the go-to platform for understanding what the world is thinking — and where it’s headed.
The post Polymarket Acquires CFTC-Licensed Exchange and Clearinghouse QCEX for $112 Million appeared first on Gaming and Gambling Industry in the Americas.
Welcome to our weekly roundup of American gambling news again! Here, we are going through the weekly highlights of the American gambling industry which include the latest news and new partnerships. Read on and get updated.
Latest News
Caesars Entertainment announced a major upgrade to its mobile sports betting platform with the launch of a universal digital wallet on the Caesars Sportsbook app in Nevada. This enhancement streamlines the wagering experience for sports bettors who visit Nevada, enabling them to manage funds and Caesars Rewards credits in one place, with seamless access across 19 jurisdictions where Caesars Sportsbook offers mobile sports wagering. With this update, users in Nevada can experience added convenience, with all funds and rewards immediately visible and available after logging in. Caesars plans to add universal wallet functionality to more North American jurisdictions where it offers mobile sports wagering in the future.
Comanche Nation Entertainment is set to expand both Comanche Red River Hotel Casino and Comanche Nation Casino, setting the stage for a multi-phase expansion that will strengthen its entertainment offerings, boost economic opportunity and extend its reach across Southwest Oklahoma. The new expansion will allow for long-term growth of both properties. Construction will begin first at Comanche Red River with a new event centre that expands the gaming floor, adds non-gaming amenities and creates new space to host concerts, conferences and community events.
Partnerships
Quick Custom Intelligence and Black Bear and Fond Du Luth Casinos announced their strategic partnership that is set to transform the gaming and hospitality landscape in the Minnesota market. This dynamic collaboration represents an exciting fusion of advanced technology and exceptional guest experiences, with Black Bear and Fond Du Luth Casinos leading the charge. By leveraging QCI’s cutting-edge data analytics platform, the partnership aims to redefine how casinos operate, providing unparalleled insights into player behaviour, enhancing operational efficiency and delivering personalised guest experiences like never before. This move positions Black Bear and Fond Du Luth Casinos at the forefront of innovation, setting a new standard in how technology can drive the future of gaming and hospitality.
BetMGM announced a multiyear partnership with baseball legend Derek Jeter. As BetMGM’s brand ambassador, Jeter will appear in national marketing campaigns. BetMGM Casino also plans to launch an exclusive Jeter-themed slot game. Currently, there are no other online casino games featuring a current or former professional baseball player. The Hall of Fame shortstop joins BetMGM’s prestigious roster of sports legends, which includes Barry Sanders, Tim Howard and Wayne Gretzky, among others. Jeter will be featured prominently across advertising campaigns and digital platforms, make appearances at exclusive VIP events and play a key role in promoting BetMGM’s responsible gambling initiatives in both the US and Canada.
Red Earth Casino has chosen QCI’s Chatalytics platform to revolutionise its casino operations and elevate guest engagement. This AI-powered suite—which includes Slot Copilot, Player Copilot, the Dashboard and the Robot Button—leverages OpenAI technology to deliver real-time intelligence and streamline decision-making across the gaming floor. Built to enhance both slot performance and player service, QCI Chatalytics offers a powerful blend of automation and data analytics. Slot Copilot enables real-time slot machine monitoring, predictive performance analytics and intelligent task assignment. Player Copilot uses behavioural insights to support personalised guest engagement strategies and optimise rewards.
The post Gaming Americas Weekly Roundup – July 14-20 appeared first on European Gaming Industry News.
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