Kindred reports 2023 financial performance
Kindred Group has recently published its latest annual financial report covering its performance in 2023.The firm’s latest report started off by highlighting Kindred’s...
Kindred now blocks its Dutch consumers until it obtains a license
Kindred will continue to prevent Dutch users from accessing the sites until it obtains licensing.
On September 30th, Kindred notified that all Dutch members would be temporarily restricted from utilizing its services. Soon after, it held the launch of the Dutch regulated online market.
At the time, this was solely a temporary measure while it sought legal advice. It anticipated this guidance to demonstrate that it could allow clients from the Netherlands as long as it did not target them with advertising.
This shift would cost the corporation £12 million in net income, tax, depreciation, and amortization (EBITDA) every month before any potential mitigating steps.
The company’s impact as a result of this step is more than £72 million. Consequently, it has decided to ban users from the sites until at least the second quarter of 2022.
The company has already taken procedures to seek a license and will submit it this quarter.
Kindred stated that it is ready for the Dutch licensing procedure under the Remote Gambling Act. It has been focusing on building a Dutch license application moreover successfully performing the necessary external audit.
Kindred isn’t the only company preventing Dutch customers from entering its sites as the market opened. Some other operators that have gotten on board are LeoVegas, Betsson, Entain, and Casumo.
The only ten operators awarded licenses in the first licensing round included Bet365, Tombola, and Holland Casino.
Kindred reports decline in harmful gambling revenue in Q4
Kindred’s latest harmful gambling revenue report has revealed a decrease in the share of the firm’s proceeds generated by problematic gambling behaviors.The key figure...
