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Kindred Group plc – Trading Update for the Second Quarter 2020

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Kindred estimates gross winning revenue for the second quarter of 2020 of about GBP 235 million (Q2-2019: GBP 226.2 million).

Even though cancelled sports events have affected the second quarter, solid growth in revenues from other products has partly compensated. Substantial growth has been delivered by Kindred’s cutting-edge technology, proprietary Racing platform as well as other events such as eSports, and other virtual sports alternatives (e.g. F1, FIFA events). Sports activities have gradually resumed during the latter part of the quarter. It is probable that Kindred and other online operators have received a temporary benefit from the fact that most offline betting outlets in many countries have been closed throughout the second quarter.

Underlying EBITDA for the second quarter of 2020 is estimated to be in the range GBP 48-53 million (Q2-2019: GBP 30.5 million). The main driver in the expected increase in EBITDA compared to the prior year is the cost reduction actions that Kindred prudently took in connection with marketing, content and other direct costs. While these actions have protected profitability in the short term, now when sports are returning to more normal activity levels, we expect the marketing cost model of the business to normalise as well. It is natural that reducing marketing and related costs produce a short-term profit benefit, but if sustained over a long period then these actions could damage the long-term competitive position of the business.

Betting duties for the second quarter are significantly below the level of the first quarter because the impact of sports cancellations was strongest in France, where tax rates are highest and other betting types are very limited.

Although Kindred has continued to use its strong cash flow to reduce the amount outstanding under the credit facility, the movements in exchange rates have generated a FX loss on the loan balance of GBP 5.1 million in the second quarter of 2020 out of which GBP 0.6 million was realised.

Active customers for the quarter amounted to 1.3 million which was a decrease of 11 per cent compared to the same quarter last year. The decrease was expected as many recreational/occasional players are motivated by sports events.

As communicated at the time of the Q1 report, Kindred’s management will continue to implement a number of operational efficiency initiatives throughout 2020.

The Interim report for the second quarter of 2020 will be published on 24 July 2020. The results presentation and Q&A session will be available through webcast as usual.

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Compliance Updates

EvenBet Gaming obtains Danish B2B supplier licence

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EvenBet Gaming, a leading developer of online poker and casino software, has secured a five-year B2B supplier licence from the Danish Gambling Authority (Spillemyndigheden), further strengthening its position across Europe’s most established jurisdictions.

The strategic move into the Danish market aligns with EvenBet’s mission to provide its global client base with seamless access to high-potential regulated jurisdictions. By securing this licence, the company enhances its ability to support both new and existing operators in diversifying their market reach through scalable, fully compliant gaming solutions.

The licence covers a comprehensive portfolio of products, including EvenBet’s industry-leading poker software, turnkey online casino platform, and extensive content catalogue comprising roulette, baccarat, blackjack, punto banco, bingo and slots.

The approval follows a rigorous assessment process covering RNG certification, platform security, and business procedures, reinforcing EvenBet’s ongoing commitment to compliance, integrity and player protection.

With the Danish iGaming market generating approximately DKK 11 billion (€1.47 billion) in gross gaming revenue during 2024, the licence represents a significant commercial opportunity for operators seeking long-term growth within a stable and highly profitable market.

By partnering with EvenBet, operators benefit from a streamlined route to regulated markets and gain access to the company’s world-class poker infrastructure and comprehensive casino suite. This enables them to diversify their offerings and engage high-value player segments within a secure and fully compliant framework.

Dmitry Starostenkov, CEO at EvenBet Gaming, said: “Securing our Danish B2B licence is another important milestone in EvenBet’s long-term strategy. Denmark has established itself as one of the most mature and well-regulated gaming markets in Europe, making it an extremely attractive jurisdiction for both suppliers and operators.

“This approval not only reflects the strength and reliability of our technology, but also allows us to support our existing and future partners with fully compliant access to a highly valuable market.”

The post EvenBet Gaming obtains Danish B2B supplier licence appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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Edge Marketing Institute launches G.A.M.E marketing leadership programme for B2B gaming

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Online, on-demand course targets CMOs and senior marketers, with WorldGaming signed as exclusive media partner.

Edge Marketing Institute has launched in the gaming sector with its flagship programme, G.A.M.E (Gaming Advancement in Marketing Excellence), positioned by the company as a dedicated marketing leadership course for B2B gaming.

The company said the programme is designed to help senior marketers develop commercial leadership skills as businesses push marketing teams to contribute more directly to revenue and growth.

Founded by Paul Rees and Gerhard Sagat, Edge Marketing Institute said G.A.M.E consists of 10 senior-level modules covering strategic marketing leadership, positioning, product marketing, sales alignment, go-to-market execution, marketing measurement, brand strategy, and organisational influence.

Paul Rees, Co-Founder of Edge Marketing Institute, said: “Gaming has talented marketers throughout the industry, but too many have been forced to learn senior leadership on the job without structured development or exposure to broader marketing best practice.

“This isn’t a talent problem; it’s a structural one.

“We created Edge Marketing Institute and G.A.M.E to help marketing leaders operate with greater commercial clarity, confidence and influence, so marketing becomes a genuine driver of growth rather than simply a delivery function.”

The programme has launched with the support of WorldGaming as its exclusive media partner. Alex Pratt, Managing Director at WorldGaming, said: “As gaming continues to evolve, the role of marketing is becoming increasingly commercial and strategically important.

“Helping marketing leaders better align marketing with business growth, commercial objectives and long-term industry development is positive for the wider gaming ecosystem, which is why we’re pleased to support the launch of Edge Marketing Institute and G.A.M.E.”

The post Edge Marketing Institute launches G.A.M.E marketing leadership programme for B2B gaming appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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BetBlocker adds Syrian Arabic language support for gambling harm prevention

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The charity says the rollout targets displaced Syrian communities across Europe as it works toward a partnership with a European regulatory agency.

Gambling harm prevention charity BetBlocker said today it has expanded its service to include support for Syrian Arabic speakers, aiming to improve access for displaced Syrian communities living across Europe.

The organisation said years of conflict have led to large Syrian diaspora communities across neighbouring countries and many European nations. BetBlocker added that immigrant communities can face higher risk of gambling harm, with religious, social, cultural and linguistic barriers reducing engagement with support services.

BetBlocker said the Syrian Arabic rollout was prioritised as part of work towards a partnership with a European regulatory agency, positioning it to support diaspora Syrian communities across Europe.

Founder and Trustee for BetBlocker, Duncan Garvie, said: “I’m always really happy when BetBlocker can line-up priorities for where our work for mature markets also facilitates us extending protections to populations that are under served. Our project to deliver Ukrainian as apart of the Improving Outcomes for Minority Communities fund via GambleAware in the UK was a great example of a project that met the needs of the UK funding system, while concurrently extending the support we could offer to an entirely new project.

This project offers similar opportunities. Where extending our support to Syrian Arabic both allows us to submit a more competitive tender to an EU regulator, whilst simultaneously expanding our support to a country/population that currently has very limited options for people experiencing gambling harm.

BetBlocker’s uptake in Syria is climbing rapidly at the moment, and this new launch should ensure that far more people who need support can access it.”

The post BetBlocker adds Syrian Arabic language support for gambling harm prevention appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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