Kindred posts Q3 revenue growth but dark clouds gather for Q4

Kindred posts Q3 revenue growth but dark clouds gather for Q4

Article brief provided by iGaming Business
  • Nosa Omoigui, iGaming Business
October 27, 2021 10:20 PM
  • Nosa Omoigui, iGaming Business

Swedish operator Kindred has recorded gross revenue figures of £298.4m [$410.0m] for the third quarter of 2021, but experienced significant drops in the early stages of Q4.

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The Q3 figure represents a 6.0% increase on the same period last year.

However, in the 24 days after Q3 ended, Kindred experienced a 61% revenue decrease compared to 2020. The complications experienced in the newly regulated Dutch gaming market helped contribute to the revenue hit, as did extremely low sportsbook margins.

Kindred expects to take a $144m hit as a result of ceasing its activity in the Netherlands, which it started doing from the beginning of the quarter.