KINDRED GROUP SHOWS DOUBLE FIGURES IN THE FOURTH QUARTER OF 2017
Kindred Group, which began as a company known as Unibet back in 1997, eventually growing into a group of brands today, is one of the fastest growing companies spanning across 13 markets with over 1,400 employees.
FINANCIAL RESULTS FOR THE FOURTH QUARTER OF 2017
The online gaming company Kindred Group has recently announced its financial results for the last quarter of 2017, publicly declaring double-digit growth across a number of key points. The company’s gross winnings revenue increased by 55% compared to the last year’s figure of 152.8 million pounds. For the last quarter of 2017 the figure is 238 million pounds.
The EBITDA earnings in the fourth quarter of 2017 rose by 90% compared to the same quarter the last year – from 39.3 million pounds in 2016 to 74.5 million pounds in 2017. The company’s profit-after-tax exceed the results in the last quarter of 2016 reaching 50.8 million pounds compared to last year’s 29.4 million.
SIGNIFICANT CONTRIBUTOR: 32RED ONLINE CASINO
The 32RED online casino has greatly contributed to the company’s success. This casino offers a huge selection of popular casino games, bonuses for everyone signing up, regular free spin giveaways and special offers. The casino’s revenue through the fourth quarter of 2017 reached 18.8 million pounds. The number of new players joining the casino also grew by 15% reaching 1,329,124 players joining in the fourth quarter of 2017 compared to 1,150,027 players in the last quarter of 2016. That means 179,000 more players joined in the last three months of 2017 than during the same period in 2016. The full-year revenue after tax is 117 million pounds with the year’s EBITDA 185 million pounds.
CEO HENRIK TJÄRNSTRÖM ON THE RESULTS OF KINDRED GROUP
CEO of Kindred Group, Henrik Tjärnström, released a statement commenting on the results achieved. He attributed the record revenue and profitability in the fourth quarter of 2017 to the strong growth across the company’s major markets, as well as the impressive margin of the sportsbook – 50% above the long-term average. Henrik Tjärnström also stated that the company’s active investment in marketing and product development have led to the all time record highs in EBITDA figures and number of active players. After a thorough review the company’s board has proposed a cash dividend of GBP 0.551, which represents a 78% increase compared to 2016.