Kindred Group reveals record growth for H1
Results see gross winnings increase by 55%.
Kindred Group Plc, the Swedish sports betting company that operates under the Unibet brand in the US, has revealed its H1 financial results, showing record gains for the organization.
For the period ending June 30, Kindred showed profits of $220.3m, a 575% year-on-year increase.
EBITDA was $291.9m.
The company recorded gross gaming revenues of $507.7m, an increase of 55% compared to the same period in 2020 when Covid–19 halted all live sports.
Kindred also revealed it has recorded an all-time high number of registered accounts for its platform. The number of active customers currently sits at 1,907,276.
“Kindred has built a solid foundation for continued growth across all product segments,” said Henrik Tjärnström, Kindred CEO.
“I’m pleased to see yet another great quarter for Kindred with continued growth across both the sports and casino product segments. During the quarter, our business has performed exceptionally well with gross winnings revenue. Our different product segments continue to show solid momentum, with the sports segment benefiting from a strong sports betting margin of 10.7% after free bets in the quarter.”
Their casino segment has also delivered a record quarter, with 18% YOY growth.
“This indicates that many of our casino customers remain loyal, even as restrictions start to ease across our markets, and is a testament to our customer experience,” he added.
In the company’s report, it highlights the importance remaining focused on the US, pointing to the region as a continuously growing sports betting market and one of the firm’s highest interest areas.
In its statement, Kindred said: “We continue to work on our proprietary platform with the intent to use it in the US in the future as an integral part of our US expansion.”
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