Kindred’s revenue has dropped by 30.0% year-on-year to £247.0m in the first quarter of 2022, with the operator putting the vast majority of its £105m drop in revenue down to its decision to withdraw from the Netherlands.

The drop in revenue was mostly due to the fact that Kindred agreed to block all Dutch customers from 1 October, when the country opened its online gaming market, until it receives a licence.

This came in response to a change in enforcement policy towards unlicensed operators in the Netherlands, which led to LeoVegas, Betsson, Entain and Casumo all also taking the same decision.

At the time, Kindred CEO Henrik Tjärnström said the operator believed it did not have to block customers from the Netherlands as long as it did not target them, but said Kindred would not accept Dutch customers until it received clarification.