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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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Groove says its casino content library passes 20,000 games

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Groove says it has passed 20,000 titles in its aggregated casino content library, delivered to partners via “one API” and managed through its Groove Command back office.

The company said the catalogue includes slots, instant win games, table games, crash games, live dealer and arcade-style titles, plus “emerging verticals including sweepstakes and crypto-native content.” Groove added that the portfolio is now live and available to its partners worldwide.

Rachel Tourgeman, Head of Partnerships at Groove, said the company focuses on curation rather than chasing volume: “Twenty thousand games is a number. What matters is what sits behind it…” Says Tourgeman. “We don’t add studios for the sake of volume. We add them because they bring something distinctive: a mechanical innovation, a visual language, a player-engagement hook that our operators can’t get elsewhere. Our partners trust us to curate, not just collect. That trust is why we keep growing, and why the quality curve keeps rising alongside the quantity curve.”

Groove said recent integrations include KingMidas Games (150+ mobile-first titles), Urgent Games and Bryogames, which it described as offering “proprietary mathematics with real-time RTP customisation.” The company said the additions were assessed for technical compatibility and “commercial distinctiveness.”

Yahale Meltzer, Co-Founder and CEO of Groove, positioned the milestone as part of a broader platform pitch: “The aggregation space is crowded with platforms that offer ‘access’ and little else,” said Meltzer. “Twenty thousand games through a single API is not just scale. It is a statement. It says that Groove has become the default engine for operators who want to move fast, compete smart, and never compromise on content depth. But we are not stopping here. The next 20,000 will be even more selective, more integrated, and more aligned with where player behaviour is heading. Volume without curation is noise. We are building a signal.”

The post Groove says its casino content library passes 20,000 games appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.

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Octoplay integrates with Lottomart to expand UK distribution

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Octoplay has expanded its UK distribution through a new integration with operator Lottomart, making a selection of the supplier’s slot games available to Lottomart players.

Under the agreement, Lottomart has added five Octoplay titles to its casino library: Fire Rail Express: Hold & Win, Break the Diamond Piggy, 777 Hot Reels: Megacharged, Big Bang Bonus: Hold & Win and The Lucky Fella: Hold & Win.

Chris Ruddock, Commercial Director at Lottomart, said: “We’re always on the lookout for exciting content that adds something fresh to our portfolio, and Octoplay’s titles do exactly that. Their distinctive style, engaging mechanics, and wide range of themes make them a fantastic addition to our casino. We’re really looking forward to seeing how our players respond.”

Ralitsa Georgieva, Chief Executive Officer at Octoplay, added: “Going live with Lottomart adds another respected UK operator to our growing list of partners in the market. The UK remains a core pillar of our European strategy, and we are pleased to bring our portfolio to Lottomart’s players.”

The post Octoplay integrates with Lottomart to expand UK distribution appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.

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Momentum forms UAE commercial gaming JV with Fanatics after GCGRA approval

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Momentum Group and Fanatics have formed a strategic joint venture to run and expand Momentum’s licensed commercial gaming operations in the UAE, the companies said on 29 June, 2026. The partnership is based in Abu Dhabi and brings Momentum’s existing UAE commercial gaming licenses and operations into the new entity.

The joint venture will operate and grow the activities currently licensed to Momentum in the UAE, including lottery, iGaming, sportsbook, and content websites. Momentum said the General Commercial Gaming Regulatory Authority (GCGRA) has approved the change in control of Momentum’s existing licensed entities.

Scott Burton, Chief Operating Officer, Momentum Group, said:

“The UAE has built one of the world’s most carefully regulated commercial gaming markets, and this joint venture is a reflection of the confidence that brings. Combining Momentum’s regional experience with Fanatics’ global product capability creates a partnership well placed to grow alongside this market for the long term.”

Conor Grant, President, Fanatics Gaming, said:

“The UAE is establishing one of the most thoughtfully regulated commercial gaming markets in the world, and Momentum has demonstrated what a responsible, credible operation within it looks like. We are entering this market for the long term, committed to building something genuinely category-defining together.”

Momentum said the companies plan to invest through the joint venture in technology, product, and customer experience, and to advance responsible gaming and player protection in line with the GCGRA framework.

The post Momentum forms UAE commercial gaming JV with Fanatics after GCGRA approval appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.

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