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Malta – Kindred hails ‘strongest quarter ever’

By - 13 January 2021

Kindred has reported its strongest quarter ever with gross winnings revenue of approximately £365m, representing annual growth of 55 per cent.

Unibet’s parent company announced continued strong activity across its markets and products, with record active customer numbers of 1.78 million, an increase of 11 per cent compared to the same quarter last year.

Gross winnings revenue growth was also supported by a slightly higher than normal sports betting margin, approximately 10 per cent (after free bets) for the quarter, compared to the long-term average margin of around 8.5 per cent.

Underlying EBITDA for the fourth quarter of 2020 is estimated to be approximately £115m (compared to £30.7m in 2019). The main contributing factors for the increase have been attributed to the strong revenue growth, combined with Kindred’s continued focus on operational efficiency and costs.

The level of marketing investment has gradually increased during the second half of the year and during the fourth quarter the total marketing spend was around 13 per cent higher than in the fourth quarter of 2019.

Although marketing spend increased between the third and fourth quarters of 2020, the significant increase in revenue and improved marketing efficiencies have meant that marketing spend was approximately 21 per cent of gross winnings revenue for the quarter.

The year end report for 2020 will be published on 10 February 2021.

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