These two quarters have shown great growth for the Kindred group. And the biggest upswing was during the world cup. In fact, the group reached an all-time high with a gross win revenue of £219 Million in the second quarter. Which means the group revenues increased by a whopping 31%!
Not only did the CEO Henrik Tjärnström reported good financial numbers during the world cup in Russia. But, he also stated that their active player base has never seen this type of numbers. Indeed, during the major sports event, the group saw 1.5 million players successfully navigate across their platform.
“The World Cup provided a significant all-time high in customer activity. And continued strong organic growth. And unexpected results led to a SportsBook margin of 8.2% after free bets.”
Sight set after the World Cup
So what’s the next step for Kindred Group to maintain their investors’ trust and continue to grow? As this Group work in a very structured way, every move seems to come with in-depth analytics and calculated risks. So the obvious step for this industry leader was, of course, to apply for a gambling licence in Sweden.
Now, if they get a licence to operate in Sweden, it would mark the thirteenth regulated market, including the UK this Group operates in. It’s also very well known that the SportsBook market has opened its doors in the US. And we will most definitely see The Kindred Group presence shortly overseas too.
Does a strong position in Europe translate well in the US?
Although the Kindred Group has a tight grip on a big share of the European online sportsbook market, it does not necessarily mean that the strategy and platform will appeal to the U.S market?
Sure, the Unibet brand speaks to the players with its slogan “By players for players.” But, is this a too soft approach for the American players?
“Our working hypothesis right now is when sports become available, we would see it as a big benefit if we could go with the Unibet brand, albeit we fully appreciate that it’s unknown in the US market, but it has worked well in Europe, and we believe it could work well in the US as well.”