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

Published

1 week ago

April 25, 2024

George Miller

kindred-group-plc-–-interim-report:-january-–-march-2024-(unaudited)

Reading Time: 2 minutes

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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CAPCOM’S STREET FIGHTERTM 6 GOING TO COLLEGE THIS FALL

Published

1 day ago

May 3, 2024

GamingAmericas.com

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CSMG will create and operate College Street FighterTM Tour in North America for the 2024-25 academic year
College conference Street Fighter 6 champions will punch their ticket to the national Collegiate Esports Commissioner’s Cup (CECC) & May Madness in 2025

Collegiate Sports Management Group (CSMG) announced today during the kick-off of its Collegiate Esports Commissioner’s Cup (CECC) Texas presented by McDonald’s that it has joined forces with Capcom to launch the College Street FighterTM Tour during its 2024-25 academic year with the finalists competing at CECC Texas in 2025 throughout its May Madness event. Street FighterTM 6 will join Super Smash Bros. Ultimate, Overwatch 2®, Rocket League, and VALORANT as part of the official game titles for CECC.

“We are immensely excited to welcome Capcom into the CECC family and provide a path to glory for student athletes to showcase their skills in Street Fighter 6,” said Michael Schreck, Chief Executive Officer for CSMG. “In our fourth year of building May Madness, we continue to listen to our players, coaches and fans on how to make our event more inclusive, and the partnership with Street Fighter 6 is a resounding success.”

“The Street Fighter franchise is a multi-generational and global game series, so it’s important for us to continue to grow that fandom at the collegiate level,” said Michael Larson, Head of Esports at Capcom USA. “CECC continues to set the standard for competition and community, so it’s a natural format for expansion, and we’re eager for College Street Fighter Tour competitors across North America to show off their skills and join us in Texas next year.”

”The vision for the College Street Fighter Tour is a publisher backed esports series that integrates into the existing infrastructure of The Collegiate Esports Commissioners Cup, a bracket style event series that takes place every year and has been coined May Madness. The path to championship includes invitational bids to national and regional level conferences as well as official CECC qualifiers held regionally,” said Angela Bernhard Thomas, Chief Esports Officer for CSMG’s ESPORTSU.

Every college or university from a 2-year or 4-year institution can participate through their conference or through select qualifiers. Wim Stocks will serve as the Commissioner of the College Street Fighter Tour and bring his 20 years of experience in college esports to create a dynamic and engaging format of competitive gaming.

“Since the launch of Street Fighter 6 in June of ’23, it is clear the rich legacy of Street Fighter is stronger than ever and helping lift the fighting game community to still greater heights,” said Stocks. “Having a structure now for a national collegiate competitive series, league, and events, Capcom and ESPORTSU are building a phenomenal ecosystem and mechanism for developing up and coming Street Fighter 6 competitors.”

More details on the College Street Fighter Tour will be shared later this year.

CSMG welcomes 84 teams (up from 64 in 2023) this weekend from a record breaking 19 conference champions to the largest scholastic esports festival globally. They will compete at Esports Stadium Arlington on May 3-5 for the chance to hoist one of the coveted trophies. Fans can watch the CECC Texas on ESPORTSU’s Twitch channel at https://www.twitch.tv/esportsu.

CECC Texas 2023 was also recently awarded LAN Event of the Year during the inaugural Scholars Awards in Las Vegas, which are produced in partnership with the Esports Awards.

Clark County

Clark County residents can bring a friend for free to next week’s Super Bingo $160,000 tournament at the Plaza Hotel & Casino, May 6-8

Published

1 day ago

May 3, 2024

GamingAmericas.com

clark-county-residents-can-bring-a-friend-for-free-to-next-week’s-super-bingo-$160,000-tournament-at-the-plaza-hotel-&-casino,-may-6-8

Home to downtown Las Vegas’ only bingo room, the Plaza Hotel & Casino is offering Clark County, Nevada residents who register to play in next week’s Super Bingo tournament the opportunity to bring a friend for free.

Happening Monday, May 6 through Wednesday, May 8 in the Plaza’s expansive ballroom, Super Bingo is expected to draw nearly 1,000 people from the local Las Vegas valley and across the country and Canada for the opportunity to win big playing fun-filled games of bingo over two days, with a $50,000 super coverall both days while socializing with like-minded bingo players.

Bingo-only registration is $160 per person, and Clark County residents who register can bring a friend for free. Registration is available online at https://www.plazahotelcasino.com/bingo/super-bingo-registration/. Hotel-and-bingo packages start at $300 for a four-night stay with no resort fee.

All Super Bingo players receive one 6-on paper pack for both days, two daubers, free drinks via an open bar at all sessions, boxed lunch both days, and $10 in free slot play after the first day’s session.

The Plaza’s Bingo room offers six daily bingo sessions at 11 a.m., 1 p.m., 3 p.m., 5 p.m., 7 p.m. and 9 p.m. and is located on the 3rd floor. By parking on the third floor of the Plaza’s self-parking garage, guests have convenient and direct access to the Plaza’s bingo room and parking is validated for bingo players.

Gambling in the USA

Kambi Group plc extends Mohegan partnership with on-property sports betting agreement in Pennsylvania

Published

2 days ago

May 2, 2024

GamingAmericas.com

kambi-group-plc-extends-mohegan-partnership-with-on-property-sports-betting-agreement-in-pennsylvania

Kambi Group plc (“Kambi”), the world’s trusted sports betting partner, has agreed a long-term on-property sportsbook partnership with Mohegan to provide its award-winning sportsbook at two retail locations in the state of Pennsylvania.

The partnership will see Mohegan utilise Kambi’s cutting-edge retail sportsbook offering across more than 20 kiosks in sportsbook locations at Mohegan Pennsylvania and Mohegan Pennsylvania at Lehigh Valley Race and Sportsbook.

The deal further strengthens Kambi’s relationship with Mohegan, which already utilises Kambi’s suite of sports betting products at ilani in Washington, as well as online and on-property in the Canadian province of Ontario at Fallsview Casino Resort and Casino Niagara.

Kristian Nylén, Kambi CEO and Co-founder, said: “With several successful partnerships with Mohegan already in place, we are pleased to agree this new partnership as we continue to build on our strong relationship.

“This latest deal further reinforces Kambi’s position as the sportsbook provider of choice for tribes across North America, and we look forward to our ongoing collaboration with Mohegan.”

Tony Carlucci, President & GM of Mohegan Pennsylvania, said: “Mohegan Pennsylvania is excited to continue utilising the same Kambi technology platform that existed under our Kindred partnership, which will help to create a seamless process as the Sportsbook at Mohegan Pennsylvania fully rebrands later this Spring.”