FDJ strenghtens leadership with former Kindred CEO
French lottery giant La Française des Jeux, FDJ, announced the appointment of Kindred's former CEO Nils Andén as its new Executive Director of Online Betting and Gaming.
...
Kindred records strong Q3 results with a rise of 3.7%
Kindred Group, recently acquired by France’s La Française des Jeux (FDJ), recorded a 3.7% year-on-year revenue rise in Q3, totaling £294.5 million ($381.8 million).
Earlier this month, before sharing its final Q3 report, Kindred shared its early financial update, highlighting the impact of its recent acquisition by FDJ, which announced its interest in the Kindred Group back in January.
In Q3, Kindred saw almost 83% contribution from regulated markets, out of which 7.5% from North America. Prioritizing regulated markets may impact Kindred’s £250 million EBITDA goal for 2024.
Nils Andén, CEO at Kindred, commented
“Following the expected completion of Kindred’s acquisition by FDJ, Kindred will exit dotcom markets, including Norway, that don’t have a clear path to local regulation in the near future.”
Kindred also announced its plans to exit from Nasdaq Stockholm. Q3 profits decreased by 53.1% due to £30.9 million ($40.1 million) in FDJ-related strategic costs. However, underlying EBITDA jumped 48.8%, while year-to-date net profit rose 29.7% to £85.5 million ($110.96 million).
Kindred’s B2B and B2C segments
Kindred’s B2B segment, led by Relax Gaming, saw a 23.9% rise to £11.4 million, which equals $14.79 million. Meanwhile, the B2C segment in Europe and Australia reached £283.1 million, with sports betting and other games with recorded revenues of £105.2 million ($136.49 million) and £177.9 million ($230.87 million). Active customers grew by 8.8%.
Kindred reports decline in responsible gambling impact
Kindred Group, recently acquired by France’s La Française des Jeux (FDJ), has released its latest Responsible Gambling Metrics report for the Swedish market, highlighting the...
