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Online gambling firm Kindred Group has published their first-half financial results, noting that profits slipped due to regulatory changes in Sweden.
Key financial indicators for the first half ending June 30th, 2019 were:
Commenting on the performance Kindred CEO Henrik Tjärnström said, "As we have highlighted for a long time and as we saw in the first quarter of 2019, the new licensing regulation in Sweden has resulted in significant short-term margin pressure driven by higher betting duties but also higher marketing as we are investing for the longer term.
"In the Swedish market, we saw a significant improvement quarter-on-quarter, but EBITDA contribution was still down £9.2m when compared to the second quarter last year."