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Kindred Group plc – Interim report: January – March 2024 (unaudited)

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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.

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Blask reaches 100 market milestone with new additions

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Blask, the market intelligence ecosystem for iGaming, has crossed the 100-country threshold with the addition of new Asian, Africa and European markets to its platform.

Blask now provides AI-driven, real-time analytics on more than half of the world’s nations, with an in-depth overview of the operator landscape provided in 107 countries, and game analytics in 17.

The latest markets added include Turkey, Saudi Arabia, the United Arab Emirates, Ukraine, Qatar, Kuwait, Moldova, Tunisia, Zimbabwe, Jordan, Madagascar, Chad, Somalia, Niger, South Sudan and Mauritania.

Max Tesla, CEO and co-founder of Blask, said: “When we launched Blask last year, we made a commitment to bring in-depth, real-time iGaming market intelligence to the whole world. We’re now more than half-way towards completing this mission. Every new market we add brings more clarity to an industry that has operated in the dark for far too long.”

Blask shines a light on the performance of brands and entire markets where data-led intelligence has previously been lacking.

This latest update shows that as the United Arab Emirates prepares to roll out a new regulatory framework for online gaming, more than 155 brands are already active in the country. The Blask Index, a measure of engagement and interest across all brands in the UAE, is up 36.14% year-on-year.

Meanwhile, the once thriving  Ukraine iGaming market has seen a 49.11% YoY decline, with just 86 now active.

The post Blask reaches 100 market milestone with new additions appeared first on European Gaming Industry News.

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Evoplay dives into the vault in Piggy Bank 3 Pots Bonanza

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Evoplay the award-winning game development studio, has released Piggy Bank 3 Pots Bonanza, a vibrant and joyful slot where players can crack the safe for generous wins.

With the inclusion of the popular 3 Pots mechanic and several thrilling features, the 5×3, 20-line game offers a colourful world of gold bars, diamonds, and the three titular Piggy Banks for an action-packed adventure.

The game has four types of Bonus symbols – Green, Blue, Red, and Gold – offering different values between 1x to 350x the bet.

The Green Piggy Bank activates the Bonus Game with the xSpins Booster, awarding four starting spins instead of three and resetting the spin counter back to four each time a new Bonus symbol lands.

The Blue Piggy Bank triggers a Bonus Game featuring an xReels Booster, doubling the excitement by playing the round on two reel sets simultaneously. Any starting Bonus symbols are duplicated on the additional reels, increasing the chances of landing high-value Gold Bonus symbols.

Meanwhile, the Red Piggy Bank introduces the xFortune Booster, where Bonus symbols can randomly increase in value, with multipliers ranging from 0.5x to 10x the bet, creating explosive win potential.

The real excitement starts when all three boosters are activated simultaneously, launching a Bonus Game with a Hold and Win mechanic. Filling all 15 cells with Bonus symbols during this mode rewards the GRAND Jackpot or even the chance to double the jackpot if the Extra Reels Booster is active.

For players seeking instant access to the game’s features, the Bonus Buy allows activation of one, two, or all three Boosters, directly unlocking the full Bonus Game experience.

With its vibrant visuals, engaging mechanics, and multiple ways to win, Piggy Bank 3 Pots Bonanza offers players an exciting, dynamic slot experience where every spin could lead to big rewards.

Ivan Kravchuk, CEO at Evoplay, said: “With Piggy Bank 3 Pots Bonanza, we wanted to create a fun and fast-paced slot experience that keeps players on the edge of their seats.

“The combination of the 3 Pots mechanic, Hold and Win and multiple Bonus symbols, provides plenty of excitement and more ways to hit big wins with every spin.”

The post Evoplay dives into the vault in Piggy Bank 3 Pots Bonanza appeared first on European Gaming Industry News.

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155 million monthly active users

Flashscore celebrates 155+ million monthly users, 400+ million app downloads

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  • Record figures reinforce position of fastest-growing sports media platform

  • User base boosted by acquisition of BeSoccer

  • El Clásico fuelled record-breaking single-day user demand

Flashscore, the world’s leading platform for live scores and sports content has reached a major milestone, surpassing 155 million monthly active users and exceeding 400 million app downloads, with growth boosted following the acquisition of BeSoccer.

The record figures were reached in October, which also saw Flashscore and BeSoccer set a new single-day traffic high of 48.5 million users. The continued growth underlines Flashscore’s position as the leading sports media platform globally and reflects rising demand for real-time, reliable match data.

Flashscore CEO Pavel Krbec said: “All our investments in modern technology and product portfolio, as well as our daily work, are directed toward a single goal: delivering key sports information to fans around the world at the moment it matters most.

“Surpassing the 155 million monthly user milestone has shown that our vision delivers tangible results and I’m confident that in the year ahead, we will raise the bar even higher.”

Flashscore is the flagship product of Livesport, founded in 2006 by Martin Hájek and Jiří Mareš in Prague. The company that has become the global leader in real-time sports coverage has boosted its user base through new acquisitions in recent years. Notable additions include the Spanish football giant BeSoccer, Soccerway, and Tribal Football. BeSoccer alone contributed over 30 million users and strengthened Flashscore’s presence in key football markets worldwide.

BeSoccer CEO Ana Chapado said: “One year under one umbrella with Flashscore reflects both the strength of our football-focused platform and the power of joining forces with a global leader. Together, we’re building something truly special for football fans around the world.”

Globally, the majority of Flashscore users visit the platform for football results and content (more than 65%), followed by tennis (10%) and basketball (9%). Unsurprisingly, Flashscore’s largest audiences are concentrated in football’s traditional powerhouses. Countries with the highest monthly user counts regularly include Brazil, Italy, France, the UK, Poland and Germany, while Nigeria and the United States are also among regions that see a rapid growth of audience.

Single-day traffic record fuelled by El Clásico

October also saw Flashscore and BeSoccer pass a single-day traffic record, with 48.5 million users and 2.58 billion views combined on October 26, helped by El Clásico as Real Madrid beat Barcelona in La Liga. That match was the second-most popular game in Flashscore history, behind Barcelona’s Champions League semi-final second leg match against Inter in May.

Krbec said: “When the El Clásico was approaching, we saw it as an opportunity for Flashscore to shine. That’s exactly what happened – 14.7 million people followed the match on our platform, making it the second most-watched game in our history.”

The post Flashscore celebrates 155+ million monthly users, 400+ million app downloads appeared first on European Gaming Industry News.

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