Tag Archives: Kindred Group

Kambi hit by soft Q3 margins as Becher begins reorganisation 

SBC News Kambi hit by soft Q3 margins as Becher begins reorganisation 

Kambi Group Plc maintains steady trading as new CEO Werner Becher begins the strategic reorganisation of the Stockholm-listed sports betting technology group to improve profitability. Publishing its Q3 trading update, Kambi achieved corporate revenues of €43m, up 2% on 2023 comparatives of €42m. Leadership explained that “although Q3 revenue was only up 2% year-on-year, when excluding the Penn Entertainment transition …

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FDJ projects new heavyweight status to end 2024 trading

SBC News FDJ projects new heavyweight status to end 2024 trading

Groupe Française des Jeux (FDJ) has reported revenue growth across all business segments ahead of incorporating the online gambling assets of Kindred Group Plc. On a year-to-date basis, the Paris Euronext gambling group’s corporate revenues stand at €2.09bn, up 12% compared to 2023 results of €1.87bn. French income, excluding international contracts and payment services, accounted for €1.9bn of corporate revenues …

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FDJ completes Kindred deal to transform into ‘Europe’s Champion’

fdj

La Française des Jeux (FDJ) has declared to the markets that investors of Kindred Group Plc have accepted its offer to acquire the Stockholm-listed online gambling group. On 2 October, the final day of the offer period, FDJ was authorised to acquire 196 million of Kindred’s Swedish depositary receipts, taking ownership of +90.66% of the group’s capital. Prior to the …

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FDJ acquisition of Kindred Group gets regulatory clearance

Betclic CEO Nicolas Béraud calls for regulation of French igaming

La Française des Jeux’s (FDJ) acquisition of Kindred Group has officially been cleared by the country’s competition regulator, the Autorité de la concurrence. The authority was notified of the plan in May but subsequently identified some potential risks to competition in the French gaming market. FDJ has now provided the regulator with behavioural remedies to these concerns. The proposed transaction …

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Kindred returns to H1 growth on better cost balance

Nils Andén, Kindred CEO

Kindred Group Plc trades with confidence towards achieving its annual corporate guidance on firm cost controls and sustainable income. Publishing its H1 2024 Interim trading accounts, the Stockholm-listed online gambling group’s H1 corporate revenues stood at £635m, up 4% on 2023 comparatives of £614m. Headline growth reflects strong Q2 trading, in which Kindred brands serviced 1.7m active customers (+12%) generating …

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Kindred Group heightens awareness of problem gambling in Sweden

SBC News Kindred Group heightens awareness of problem gambling in Sweden

Kindred Group, along with Swedish operators Svenska Spel and ATG, are extending a joint initiative to publish responsible gambling (RG) metrics in the Swedish market. The deal, which originally began in 2022, sees operators report data to the country’s Gambling Authority every six months, which aims to increase public awareness and create a fact-based dialogue about high-risk gambling behaviour. Alexander …

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Kambi withdraws 2027 targets as focus returns to Tech vision

SBC News Kambi withdraws 2027 targets as focus returns to Tech vision

Kambi Group Plc has withdrawn its long-term 2027 financial targets, which aimed to triple the revenue and EBIT results of the Stockholm-listed sports betting technology group. The decision was announced by Kambi’s board, who have withdrawn ‘underlying assumptions’ to achieve 2027 targets of generating “revenue of 2-3x FY2022 levels, approximately €330m – €500m and EBIT in excess of €150m”. The …

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Storting guarantees DNS blocking powers to Lottstift

SBC News Storting guarantees DNS blocking powers to Lottstift

Lottstift, Norway’s Gambling Authority, has been granted ‘direct powers’ to order DNS and IP blocking of websites infringing on the laws of Norway’s Gambling Act. The mandate was approved by the Storting (Parliament) on March 19, as a majority of MPs backed market protections sought by Lottstift against unlicensed operators. The approval sees Lottstift secure DNS and IP blocking rights …

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Kindred highlights ‘dynamic sustainability’ in 2023 report

Kindred Group - Nils Andén, Tom Banks

Kindred Group has published its combined Annual and Sustainability Report for the 2023 financial year.  Providing an introduction to the company and its strategy and key value creation drivers, Kindred detailed its focus on expanding its share in locally regulated markets under the leadership of CEO Nils Andén. Emphasising the importance of navigating complex regulations to deliver compelling experiences to …

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