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Kindred Group plc – Trading Update for the Second Quarter 2020

Published

6 years ago

July 9, 2020

Reading Time: 2 minutes

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.

Brand Partnerships

Midnite signs as Middlesbrough FC principal partner for 2026/27 season

Published

3 hours ago

July 15, 2026

Wladimir P.

midnite-signs-as-middlesbrough-fc-principal-partner-for-2026/27-season

Midnite has agreed a partnership with Middlesbrough FC that will see the UK bookmaker become the club’s principal partner and front-of-shirt sponsor for the 2026/27 campaign, which Middlesbrough describes as its landmark 150th season.

The companies announced the deal alongside a fan activation at Riverside Stadium on Thursday, July 9, branded “This Season’s On Us”. The initiative offered supporters prizes including 2026/27 season tickets, 2026/27 shirts, match tickets, or a £25 club shop voucher, with fans required to answer Middlesbrough trivia and complete a football challenge.

Middlesbrough former players Craig Hignett and David Wheater attended the event, and, according to the company, took bonus attempts on behalf of participants who missed out.

Andrew Mook, Midnite’s Head of Brand Marketing, said:

“Middlesbrough have a storied history and we’re delighted to announce this partnership during such a monumental year with the club celebrating their 150th anniversary.

“It was great to see so many Middlesbrough fans at the “This Season’s On Us” activation, we hope they enjoyed taking part and meeting club legends, with David Wheater hitting top bins on several occasions and allowing fans to win big with season tickets.

“We can’t wait to get to Riverside Stadium in August to kick-off a new season and we’re excited to say that we have plenty of new and captivating campaigns planned.”

Lee Fryett, Middlesbrough FC Chief Commercial Officer, added:

“We’re delighted to welcome Midnite as our new Principal Partner.

“We’re looking forward to working closely with Midnite to develop engaging campaigns, content and unique experiences that bring our fans even closer to the club.

“We’re confident this partnership will provide real value for our supporters while supporting our ambitions both on and off the pitch.”

The post Midnite signs as Middlesbrough FC principal partner for 2026/27 season appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.

AGCO

ThrillTech secures AGCO supplier licence for Ontario launch

Published

3 hours ago

July 15, 2026

Wladimir P.

thrilltech-secures-agco-supplier-licence-for-ontario-launch

ThrillTech has been awarded a Gaming-Related Supplier licence by the Alcohol and Gaming Commission of Ontario (AGCO), clearing the company to launch in Ontario’s regulated market.

The licence allows ThrillTech to deploy its opt-in side bet jackpots technology with regulated online casino, sports betting and lottery operators across the province.

Benjamin Bradtke, Co-Founder of ThrillTech, said: “Securing our AGCO licence is a major step in our mission to transform how jackpots are delivered at scale across regulated markets. This latest certification is testament to our robust technology and trusted compliance frameworks, allowing us to continue our global growth trajectory. We are thrilled to bring our proven, compliant jackpot technology to Ontario, empowering locally licensed operators to uplift revenue without cannibalising existing spend.”

The company said its “ThrillPots” mechanics sit as an independent, player-funded side bet and do not alter the underlying game’s return-to-player mathematics.

ThrillTech said the Ontario approval enables its existing multinational partners that also operate in the province to launch its side bet jackpots locally, while it also holds talks with potential new operator partners. The company lists its regulated footprint as including the United Kingdom, Sweden, the Netherlands, Romania, Malta, Gibraltar, Brazil and Peru.

The post ThrillTech secures AGCO supplier licence for Ontario launch appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.

AGCO

ThrillTech wins AGCO supplier licence to enter Ontario market

Published

3 hours ago

July 15, 2026

GamingAmericas.com

thrilltech-wins-agco-supplier-licence-to-enter-ontario-market

ThrillTech said it has been awarded a Gaming-Related Supplier licence by the Alcohol and Gaming Commission of Ontario (AGCO), clearing the company to offer its side-bet jackpot technology to regulated online casino, sports betting, and lottery operators in Ontario.

Benjamin Bradtke, Co-Founder of ThrillTech, said: “Securing our AGCO licence is a major step in our mission to transform how jackpots are delivered at scale across regulated markets. This latest certification is testament to our robust technology and trusted compliance frameworks, allowing us to continue our global growth trajectory. We are thrilled to bring our proven, compliant jackpot technology to Ontario, empowering locally licensed operators to uplift revenue without cannibalising existing spend.”

The company said its ThrillPots product lets operators add player-funded, opt-in side-bet jackpots on top of existing games, without changing gameplay or the underlying return-to-player (RTP) calculations. ThrillTech positions the mechanic as a way to drive incremental engagement and revenue.

ThrillTech said the Ontario licence enables existing multinational partners that also operate in the province to roll out ThrillTech-powered jackpots locally, and added it is in discussions with potential new operator partners. The company listed other regulated jurisdictions it serves as the United Kingdom, Sweden, the Netherlands, Romania, Malta, Gibraltar, Brazil, and Peru.

The post ThrillTech wins AGCO supplier licence to enter Ontario market appeared first on Americas iGaming & Sports Betting News.