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Kindred Group plc – Interim report January – March 2020 (unaudited)

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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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Alex Manning

LCKY Group announce Alex Manning as Group CTO

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LCKY Group has announced the appointment of Alex Manning as Group Chief Technology Officer, marking the first major leadership hire since the company’s strategic rebrand earlier this year.

Previously known as Glitnor Group, the entrepreneurial-led organisation entered a new phase of its development in January when it adopted the name LCKY Group. The rebrand was designed to better reflect the strong portfolio of brands operating under the group while also positioning the business for future expansion.

Alex’s appointment as Group CTO represents a significant step in this next stage of growth. With more than 25 years of experience across the fintech and iGaming sectors, Alex brings deep expertise in scaling businesses and leading complex digital transformations.

Prior to joining LCKY Group, Alex served as CTO of iGaming at Light & Wonder, where he led a major engineering transformation. During his four-year tenure, he transitioned the team to a product-led, cross-functional delivery model, oversaw the development of several first-of-their-kind products, and supported the company’s expansion into new regulated markets.

Richard Brown, Group CEO at LCKY Group, said:
“Everyone at LCKY Group is delighted to welcome Alex at what is a defining moment in the company’s evolution. He brings extensive experience across regulated fintech and iGaming markets, and his proven ability to guide organisations through successful scale-ups and digital transformations makes him an ideal fit for the role of Group CTO.”

Alex Manning, Group CTO at LCKY Group, added:
“I’m excited to join LCKY Group at a time when the business is focused on strengthening its international presence and growing its influence across key regulated markets. My priority will be to build on the strong culture that already exists within the group, creating a high-performance environment where teams can thrive, innovation is encouraged, and each of our brands is given the platform it deserves.”

The post LCKY Group announce Alex Manning as Group CTO appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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2025 Ads Safety Report

PropellerAds 2025 Ad Safety Outlook

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PropellerAds, a top performance advertising platform worldwide, has just published the 2025 Ads Safety Report, which offers an in-depth analysis of ad fraud trends, protective measures for the platform, and guidance for advertisers on compliance.

The report emphasizes that as fraudulent methods grow more advanced, the organization’s multi-tiered security measures are essential in protecting advertisers, traffic providers, and end users.

Advancing Ad Fraud Methods and High-Risk Areas

In 2025, ad fraud advanced considerably, transitioning from basic techniques to more intricate, infrastructure-intensive schemes. Fraudsters exploited cloaking, malware distribution networks, and social engineering tactics aimed at messenger accounts, frequently across various ad formats. PropellerAds enhanced initial moderation and foundational detection to identify high-risk actions before campaigns launched.

Throughout the year, the platform processed 729,794 campaign rejections, mainly driven by content compliance and user safety issues, with adult content and malware alerts representing the largest portions. These actions guaranteed that campaigns were halted prior to delivery, safeguarding advertisers, publishers, and end users, while upholding a consistent and reliable advertising landscape. In comparison to 2024, campaign rejections rose by 35%, indicating enhanced moderation reach and more robust preventive measures.

Markets of high value, such as Turkey and Spanish-speaking areas, saw increased levels of fraudulent behavior. Approximately 80% of identified attacks aimed at users of Windows and Android. Fraud patterns typically integrated technical, behavioral, and content indicators, emphasizing the necessity for ongoing monitoring and thorough infrastructure evaluation.

High-Risk Accounts and Safeguarding Methods

Cloaking continued to be the primary high-risk infraction, making up more than 80% of verified account suspensions. This method consists of displaying varying content to moderation systems and users, masking the actual essence of campaigns. Ransomware, unsuccessful identity verification, and scam schemes also played a role in account suspensions, albeit to a smaller degree. Fraud that relies on heavy infrastructure necessitates multi-tiered enforcement and ongoing monitoring to guarantee platform safety.

In 2025, schemes of fraud grew more advanced. Cloaking methods encompassed multi-tiered traffic management, selective content distribution, and decentralized architecture. Malware distribution has progressed from basic redirects to immediate file downloads or complex interactions. Incidents of Messenger account hijacking rose, featuring phishing sites, counterfeit login forms, and mobile-centric social engineering assaults. Certain campaigns even utilized compromised or left-behind servers and domains, necessitating thorough technical and behavioral analysis for detection.

AI and automation contributed to fraud prevention by analyzing behavioral patterns, identifying high-risk signals, and aiding expert evaluations. Although fraudsters tried to utilize AI for creating counterfeit documents or modifying creative assets, PropellerAds guarantees that all campaigns undergo expert reviews and infrastructure checks prior to traffic delivery, stopping high-risk operations from accessing users.

Advertiser Adherence and Risk Oversight

PropellerAds advises advertisers to adhere closely to platform guidelines, verify that ad content aligns with format and regional specifications, comprehend the entire user experience, and track infrastructure and domain reputation. The use of cloaking or misleading tactics is deemed high-risk and typically leads to permanent account termination.

The PropellerAds team highlights that preventing fraud is an ongoing and developing process that demands technology, expert evaluation, and collaboration across the ecosystem. The organization continues to prioritize improving platform safety, ensuring transparency, and safeguarding all individuals involved in the advertising ecosystem.

The post PropellerAds 2025 Ad Safety Outlook appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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Fortune Wheel Drops

Just Slots and Hype.Bet Celebrate Year One of Multiplayer Gaming Together

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The slot developer Just Slots, based in Malta, participates in Hype.Bet’s anniversary festivities as a highlighted provider partner, offering exclusive contests, Fortune Wheel Drops, and community incentives to players during March.

Just Slots, an iGaming developer recognized for its striking and premium slot games, has revealed a collaboration with Hype.Bet to commemorate the platform’s inaugural anniversary. Taking place in March 2026, the partnership includes Just Slots as a highlighted provider for the significant event, offering unique contests, community-focused rewards, and prominent lobby positioning to users on one of iGaming’s most creative platforms.

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In March, three Just Slots games—Rain and Ruin, Dynamo’s Show, and Vegan Nightmare—will be highlighted in Hype.Bet’s main lobby section, each adorned with unique halo icons to signify their participation in the anniversary promotion. Gamers can easily identify the highlighted games and dive right into the contest. The month-long competition, taking place from March 1 to 29, encourages participants to compete across the full Just Slots collection on Hype.Bet, offering rewards for individual players and streamers alike. The individual player champion receives a unique, limited-edition Hype.Bet anniversary merchandise pack, a Just Slots merchandise pack, and $500 in cash, whereas the leading streamer is awarded their own exclusive merchandise and a bonus incentive.

Enhancing the thrill, Hype.Bet’s exclusive Fortune Wheel Drops will take place every Monday and Wednesday during the campaign. Participants in Multiplayer Rooms during streamer events can seize $2,500 Fortune Wheel Drops, broadcast live to the community in a distinctly Hype.Bet style. The drops occur twice a day on those days, upholding the platform’s central belief that achieving success is more enjoyable when it is shared.

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The post Just Slots and Hype.Bet Celebrate Year One of Multiplayer Gaming Together appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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