Publishing its results for the second quarter of 2018, online betting and gaming operator Kindred Group reported a 31 per cent leap in year-on-year winnings revenue and “all-time high” customer activity.
Gross winnings revenue in Q2 was £219m in the period, up from £166m a year prior. For the six months to the end of June, revenue was £426.8m, up 33 per cent year on year.
Underlying EBITDA for Q2 was £41.7m, up from £33.4m in 2017, and £89.2m for H1 – a rise of 40 per cent on the first half of 2017.
32Red contributed £16.9m to revenues in Q2, while underlying EBITDA was £0.7m.
The number of active customers for Kindred brands during the quarter was 1,550,508, up 32.4 per cent on the 1,171,166 active in Q2 last year.
In a statement, Henrik Tjärnström, CEO of Kindred Group, highlighted that gross winnings revenue was up 31 per cent along with an “all-time high in active customers”.
“The World Cup provided a significant all-time high in customer activity and continued strong organic growth, and unexpected results led to a sportsbook margin of 8.2 per cent after free bets,” he said.
“Gross winnings revenue increased 24 per cent organically and in constant currencies which means that we are continuing to gain market share. Gross winnings revenue from mobile grew by 29 per cent compared to the second quarter last year and amounted to 72 per cent of our total gross winnings revenue. Of the group’s gross winnings revenue 43 per cent came from locally regulated markets.”
“Our underlying EBITDA grew by 25 per cent compared to the same period last year,” said Tjärnström.
