SBC News Voice of the Sports Betting Industry
Releasing its unaudited year-end report, Stockholm-listed European sports betting operator Kindred Group Plc (formerly Unibet Group Plc) is likely break it all-time revenue and earnings performance for full-year 2016.
The enlarged operator was able to post a further consecutive all-time revenue generating quarter of £152 million for Q4 2016 (Q4 2015: £111 million). Kindred would record a period underlying EBITDA of £39 million (Q4 2015: £27 million), despite facing increased betting duties and unfavourable sporting results.
Closing its full-year 2016, Kindred governance expects to declare corporate revenues of £544 million (FY 2015: £354 million). The operator targets a full-year underlying EBITDA of £123 million (FY 2015: £81 million).
Having enlarged its online betting portfolio in 2015 via the corporate acquisitions of Stan James online (UK) and Nordic gaming operator iGame, Kindred details that it has reached a total registered player base of 16.5 million for FY 2016. For Q4 2016 the number of active customers amounted to 1,150,027 (921,150), compared with 1,067,910 for Q3 2016.
At present, Kindred governance expects to declare full-year 2016 profits of circa £84 million (FY 2015: £55 million). Kindred governance detailed that its full-year 2016 performance breakdown would be made available on 13 March 2017.
Henrik Tjärnström, CEO of Kindred Group would comment on the company update “Another very strong quarter with EBITDA up 48 per cent and EPS up 54 per cent despite betting duties increasing by 67 per cent.”
“High volumes of activity and strong growth across all products have continued in the fourth quarter bringing a new all-time high in Gross winnings revenue of GBP 152.8 million, up 37 per cent on last year (+ 16 per cent in constant currency). Despite some favorites winning in December, the sportsbook margin after Free Bets was in line with prior year”
Kindred Group Unaudited 2016 – Performance Overview
