Kindred Says Fourth Quarter Earnings May Disappoint

Casino operator Kindred has posted a trading update, wherein they said that fourth quarter earnings could disappoint.

The group says that their EBITDA could drop by up to 50% from last year, due largely to thinner betting margins. The company's revenues may also drop around 4% to £235 million, although turnover did rise by 3%. Active customers were also up, reaching 1.6 million during the period. Margin was down from 9.4% to 8.1%, which contributed to the disappointing numbers.

Stricter gaming regulation in countries like Sweden also impacted the company's bottom line, due largely to restrictions on advertising and promotions. Dutch regulator Kansspelautoriteit also issued a huge €407,000 fine against one of Kindred's subsidiaries for targeting customers within the country.

We'll update readers as Kindred releases their full fiscal report.

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About the author

Therese Williams // UK Correspondent
Therese Williams
Therese is a fervent fan of slot machines and pub fruities, often trying her luck at some of the top online casinos. She covers news for Casino Listings with a focus on the UK and Europe. Therese studied arts and creative writing at university and has written for newspapers in the UK.
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bgsharpe
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14 January 2020 - 7:55pm
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Casino operator Kindred has posted a trading update, wherein they said that fourth quarter earnings could disappoint.

Well...it won't disappoint me anyway😉

Hopefully at least part of that is due to the players have won more over the period...at least I hope so.

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