Kindred Group has released its half-year earnings report and Q2 of 2022. During the last quarter, the gaming giant generated a total revenue of GBP 238.7 million, down from GBP 363.7 million in the previous comparable period. Total revenue for H1 of 2022 was GBP 485.4 million, tanking from $716.3 million in the first half of last year.
Nevertheless, CEO Henrik Tjärnström remains confident about the future, despite what he called “short-term headwinds”, and highlighted the positives.
In June, Kindred Group brand Unibet, which also signed a sponsorship deal with Dutch Football Club AFC Ajax, was granted a licence from the Dutch Gambling Authority and the earnings report already puts “average daily gross winnings revenue for the Netherlands at GBP 153 thousand.”
“We opened our doors to Dutch players on 4 July and have seen strong customer intake and activity in the period between 4 and 19 July. I am very pleased with this initial performance and expect to see our Unibet brand gradually reclaim a leading position in the Netherlands.”
Furthermore, the Kindred Sportsbook Platform (KSP) is “firmly on track” while “Relax Gaming continues to show strong numbers,” the CEO commented. In addition he said that COVID-19 times have not been easy in terms of numbers and comparisons, with it being extraordinary times.
According to Tjärnström, Q2 has historically been a “seasonally low period of activity” with most of the popular sports in betting, football and basketball, on a season break. He noted:
“With an exceptional period of sports in 2021, with Euros 2020 causing higher-than-normal activity during Q2 2021, we are now back to a normal sports calendar.”
Expecting that some “the headwinds experienced during past quarters to ease off in the coming quarters,” the Kindred chief shared his optimism about the second half of the year:
“We have an exciting period ahead of us with the Dutch market up and running, the continued development of our proprietary sportsbook, and not least the 2022 World Cup taking place in November and December.”
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Source: Igaming
