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Kindred Group plc – Interim report: January – March 2024 (unaudited)
First quarter 2024
- Total revenue was GBP 307.7 (306.4) million, in line with the first quarter of 2023.
- Gross winnings revenue (B2C) was GBP 297.6 (297.3) million.
- Underlying EBITDA increased by 20 per cent to GBP 59.3 (49.4) million.
- Profit before tax was GBP 39.8 (30.4) million.
- Profit after tax was GBP 31.4 (25.6) million.
- Earnings per share were GBP 0.15 (0.12).
- Free cash flow amounted to GBP 23.7 (29.0) million.
- Number of active customers increased by 3 per cent to 1,667,564 (1,623,568).
CEO Nils Andén comments on the first quarter of 2024
“We have had a solid start to 2024 with the underlying business operations performing well and operational initiatives moving forward according to plan. The headcount reduction plans announced at the end of last year are progressing as intended and the North America exit is set to conclude towards the end of the second quarter this year. Our growth plan that we launched during the fourth quarter last year, focusing on Europe and Australia, continues at pace with dedicated strategic growth projects across locally regulated markets.”
“Together with the encouraging performance of the B2B business, Relax Gaming, total revenue for the first quarter came in at GBP 307.7 million, in line with the same period last year. Underlying EBITDA for the first quarter came in at GBP 59.3 million, which is a very encouraging increase of 20 per cent compared to the first quarter 2023 and shows the continued positive impact of our cost control focus.”
“During the quarter, we launched the Kindred Sportsbook Platform (KSP) in a test market, and we are very pleased with the progress to date. KSP remains one of our most important strategic projects and will give us the flexibility and differentiation needed to improve growth in locally regulated markets.”
“Our share of Gross winnings revenue from locally regulated markets came in at a new all-time high of 84 per cent, indicating our continued focus to sustainable revenue and our commitment to a positive contribution to societies.”
“Following a solid start to the year we now have our eyes firmly set on a much sought after summer of sports with the UEFA Euros, the Copa America, and the Paris Olympics.”
Trading update up to and including 21 April 2024
The average daily Gross winnings revenue for the Group, up to and including 21 April 2024, was GBP 3.48 million, 6 per cent higher (8 per cent in constant currency) compared to the daily average for the full second quarter of 2023. Excluding North America, Gross winnings revenue is increasing 8 per cent (9 per cent in constant currency).
The sports betting margin after free bets for the above period was 11.3 per cent, which is ahead of the Group long-term average of 9.8 per cent and in line with the 11.3 per cent across the full second quarter of 2023.
The post Kindred Group plc – Interim report: January – March 2024 (unaudited) appeared first on European Gaming Industry News.
At the heart of the exhibition is the IRIS platform, R. Franco Digital’s GLI-certified, open-architecture solution. Designed to deliver a seamless experience across casino, sports betting, and retail operations, IRIS gives operators the flexibility, scalability, and security required to grow efficiently across multiple Latin American markets.
In addition to its robust infrastructure, R. Franco Digital will present its latest high-performance gaming titles, including Strange Spins, Genie Triple Bonanza, Diamond King Gorilla, Luxury Blast, Zorro: Final Duel, and The Phantom. Each game incorporates localized mechanics and culturally relevant themes, ensuring maximum engagement for LatAm players.
Javier Sacristán Franco, International Business Director at R. Franco Digital, commented:
“Latin America is a cornerstone of our global strategy. GAT Expo Cartagena provides an essential platform to connect with partners and showcase how our technology evolves alongside the region’s regulatory landscape. We are excited to highlight the latest advancements in our IRIS platform and our expanding game portfolio, both designed to deliver operational excellence and support regulated operators across LatAm.”
Visitors to the expo will be able to experience live demonstrations of the IRIS platform and explore R. Franco Digital’s diverse content offerings, emphasizing the company’s commitment to innovation, localization, and operator success in the region.
The post R. Franco Digital to showcase premium portfolio at GAT Expo Cartagena 2026 appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
R. Franco Digital, the Spanish iGaming provider, has announced its participation at GAT Expo Cartagena in Colombia, continuing its strategic push across the most prominent regulated markets in Latin America.
The company will be at the Las Américas Convention Center from March 24 to 26 to present its comprehensive ecosystem of products and services, specifically engineered to meet the sophisticated demands of the LatAm gaming sector.
The centrepiece of the exhibit will be the IRIS platform, R. Franco Digital’s powerful, GLI-certified open architecture solution. Designed to provide a seamless experience across casino, sports betting, and retail, IRIS equips operators with the flexibility, security, and scalability needed to grow efficiently across multiple markets.
In addition to its technical infrastructure, R. Franco Digital will debut its latest high-performance gaming content, including recent releases such as Strange Spins, Genie Triple Bonanza, Diamond King Gorilla, Luxury Blast, Zorro: Final Duel, and The Phantom.
All titles feature the localised mechanics and themes that have become a hallmark of R. Franco Digital, ensuring relevance and engagement across LatAm markets.
Javier Sacristán Franco, International Business Director of R. Franco Digital, said: “Latin America is a cornerstone of our global strategy. GAT Expo Cartagena provides an essential forum for us to connect with partners and demonstrate how our technology continues to evolve alongside the region’s regulatory landscape.
“We are excited to showcase the latest iterations of our IRIS platform and our continually expanding portfolio, both designed to deliver operational excellence and support regulated operators across LatAm.”
The post R. Franco Digital to showcase premium portfolio at GAT Expo Cartagena 2026 appeared first on Americas iGaming & Sports Betting News.
DR Gaming Technology
DR Gaming Technology Appoints Stephane Henault as Director of Technical Services
DR Gaming Technology (DRGT) has appointed Stephane Henault – formerly of Light & Wonder, Scientific Games and Bally’s – as its new director of technical services.
The newly created role comes amid pending deals for DRG that will see it expand in Latin America and Africa.
“This is an important appointment for DRGT as we continue to scale our operations globally,” said company CEO Marco Herrera.
“Stephane brings a wealth of technical and operational experience, as well as a deep understanding of the evolving needs of casino operators. His expertise will be instrumental in further strengthening and streamlining the services we provide to our partners.”
“I see this opportunity as the perfect way for me to re-connect with operator partners directly, leveraging the experience gained over the last three decades working for both a start-up, and of late, a massive multinational, and to contribute in a very practical way to their day-to-day success,” said Henault.
“DRGT’s current growth trajectory presents an exciting challenge, particularly in ensuring that as the business expands, its technical service delivery remains efficient, scalable, and aligned with operator requirements.
“Being part of that journey and helping to build processes and structures that support it, is hugely motivating. Right now, I wake up every morning with a spring in my step – that’s special.”
The post DR Gaming Technology Appoints Stephane Henault as Director of Technical Services appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
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