Trading Up For Kindred Group PLC During Third Quarter 2020

The Kindred Group released its third quarter trading summary last Friday ahead of its scheduled interim report on 6th November 2020, stating revenue was at an all-time high.

All-Time High

Kindred Group has seen an all-time high in gross winnings jump approximately 24% to £280 million from £226 million for Q3 2019. The trading up is said to be due to strong activity across all verticals. Despite major disruption this year due to sports seasons cancelled, Kindred have more than made up for this with a continuity of streaming sports events.Active customers for the third quarter were up by 19% and amounted to 1.65m compared to the same period in 2019.

Careful Management of Marketing and Investment

After smart management of marketing and investments during the Covid-19 crisis, was the driving force in continued growth during the third quarter of 2020.The marketing spend throughout July was considerably lower due to the Covid-19 crisis and came in at 21% of gross winnings revenue. Marketing investment has now returned to levels which are slightly lower than the predicted spend in the second half of the third quarter.

About Kindred Group plc

The Kindred Group are one of the largest online gambling operators worldwide with 11 brands serving over 25 million customers in a sustainable, safe environment. To date, Kindred employs around 17,000 staff and their business reaching Europe, Australia and USA.Kindred announced this week the expansion of its US collaboration with Epic Risk Management, a company aimed at reducing gambling harm within the industry. Recently, after Epic’s expansion in the US market, they consulted with Kindred to offer further staff training and development support in the fight against gambling related harm.Sustainability and player protection is a ‘key aspect’ of Kindreds US operations as they move forward with further expansion in more states within the US.

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