Industry News

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

Published

6 years ago

April 24, 2020

George Miller

Reading Time: 3 minutes

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.

Industry News

Gaming Industry Veteran Kent Young Launches New AI-Powered Gaming Technology and Content Venture, Predigy

Published

22 hours ago

January 21, 2026

GamingAmericas.com

gaming-industry-veteran-kent-young-launches-new-ai-powered-gaming-technology-and-content-venture,-predigy

Kent Young, the gaming industry visionary behind True Blue Gaming and Spin Games, has launched his third major venture, Predigy. Following a track record of two consecutive lucrative exits, Young’s latest venture is poised to disrupt the sector by leveraging advanced Artificial Intelligence, to create alternative gaming applications for existing and emerging gaming related segments.

Predigy enters the market with a singular mission: to harness the generative power of AI to develop alternative gaming technology and content that moves beyond traditional casino applications. As the industry at large seeks to adopt new and innovative verticals, Predigy will focus on building immersive, AI-adaptive applications that bridge the gap between alternative verticals and real-money wagering.

“The gaming and related verticals landscape is currently undergoing its most significant transformation in history. With True Blue, we focused on land-based content innovation. With Spin Games, we pioneered the early days of North American iGaming digital content and RGS technology. With Predigy, we are looking specifically at how AI development environments can fundamentally alter technology, design applications, and player interaction. We are building alternative gaming applications as the traditional environment and gameplay evolve in real-time,” said Kent Young, Founder of Predigy.

The post Gaming Industry Veteran Kent Young Launches New AI-Powered Gaming Technology and Content Venture, Predigy appeared first on Americas iGaming & Sports Betting News.

FlashWins

Flows to Launch New In-session Gamification Product FlashWins

Published

2 days ago

January 20, 2026

Wladimir P.

flows-to-launch-new-in-session-gamification-product-flashwins

Flows has unveiled FlashWins, a standalone gamification solution delivered via the FlowsPlay layer. As the industry’s premier no-code automation platform, Flows continues to streamline orchestration for operators, making FlashWins a powerful follow-up to the successful FlowsJackpots release.

FlashWins is an in-session instant-win experience designed to turn live play into moments of anticipation, excitement, and reward. Triggered by real-time player activity, FlashWins introduces a live prize ticker and countdown directly into gameplay, ensuring the next win opportunity is always visible and momentum never drops.

Built for speed and flexibility, FlashWins allows operators to configure instant-win mechanics, timing, and triggers without touching core game logic. Each win is delivered through bold, themed animations that can be fully customised and branded, ensuring the experience feels native to the casino product rather than an overlay or bolt-on.

FlashWins is a standalone product built on top of the Flows platform using FlowsPlay, Flows’ rapid-build product layer. It showcases how quickly new commercial products can be created, launched and iterated using Flows’ underlying automation engine, without impacting the core platform.

James King, CEO of Flows, said: “FlashWins is a great example of what becomes possible when you separate the engine from the experience. Using FlowsPlay, we were able to design, build, and launch a completely new instant-win product in a fraction of the time this would traditionally take and our clients can do the same.

“What excites me most is how quickly operators can now move from an idea to a live, branded product. FlashWins shows how easy it is to create high-impact gamification layers on top of Flows, test them in the wild, and evolve them fast all without touching the core platform.”

The post Flows to Launch New In-session Gamification Product FlashWins appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

Industry News

Playtika Announces Organisational Changes and New Layoffs

Published

3 days ago

January 19, 2026

Wladimir P.

playtika-announces-organisational-changes-and-new-layoffs

Playtika Holding Corp. has announced a major restructuring plan for Q1 2026. In the streamlining process, the company will dismiss 15% of its workforce during Q1 2026 and will recognise costs of $12-15 million for compensating employees and accompanying costs. At the end of 2024, the company had about 3500 employees. This means the company will shed 500 employees. Estimates are that about 1000 of the company’s employees are in Israel.

Playtika founder and CEO Robert Antokol wrote in a letter to employees, “The decision was not made lightly, and it reflects a fundamental change in the way we operate, so that we can invest in the future and continue to lead in the highly competitive environment of the mobile gaming market.”

Antokol added that for years, Playtika has been operating from a broad growth perspective, while implementing similar resource allocation models across its entire game portfolio. “The economic reality of the industry has changed, and the ‘one-size-fits-all’ approach is no longer appropriate for the new reality,” Antokol wrote.

According to him, in order to continue leading, the cost structure must be adjusted. “If we do not make the necessary adjustments to the cost structure today, we will compromise our ability to invest in the growth and future of the company. We cannot continue to allocate resources to mature games at the same historical levels while simultaneously trying to build a new future. By precisely adjusting our investment scope across our entire game portfolio, we can free up the resources needed to invest in games with high growth potential,” he explained.

Antokol continued: “This time is different,” because the change opens a new chapter for the company that will create new growth opportunities for it. “This is not a retreat, but a proactive move to focus strength and power. Our aim remains unchanged: to be the leading independent mobile games company in the West,” Antokol wrote, adding that Playtika will do this, among other things, by developing a new game development channel and expanding direct-to-consumer (DTC) sales, as well as using AI and automation. “This is our moment to shape the next decade of Playtika. I am confident that with your passion and focus, we will not only get through this period, but we will grow together and lead Playtika to be stronger than ever,” concluded Antokol.

The post Playtika Announces Organisational Changes and New Layoffs appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.