Kindred reaffirms commitment to locally regulated markets in Annual and Sustainability Report for 2023

Kindred Group has published its combined Annual and Sustainability Report for the 2023 financial year. The report outlines actions through which the operator shows its commitment to responsible gambling, innovation, and sustainable growth.

In his CEO comment, Nils Andén summarised the year and highlighted Kindred’s focus going forward: “The geopolitical situation across Europe and other parts of the world continues to bring unrest, and during this time we have remained focused and supported each other when needed.

“Kindred is an extremely successful growth story over the years, partly thanks to our ability to come together as a team, and we remain committed to our purpose of transforming gambling by being a trusted source of entertainment that contributes positively to society.”

“At the beginning of 2023, we promised to reach an underlying EBITDA of at least GBP 200 million by the end of the year – a fairly bold target at the time. I am extremely proud of everyone at Kindred as we managed to meet that target. Knowing that we can achieve what we set our mind to, as long as we remain focused and consistent, we have agreed with our Board to deliver an underlying EBITDA of GBP 250 million by the end of 2024,” continued Nils Andén.

Kindred’s Annual General Meeting will be held on 26th April 2024 at 10:00 CEST in Stockholm, Sweden. The 2023 Annual and Sustainability Report and Accounts, was prepared using the single electronic reporting format specified in the Transparency Directive ESEF Regulation, and can be accessed on the group’s website on this link. 

Among highlights, Kindred noted that 82% of revenue now comes from locally regulated markets, as the company prioritizes sustainable markets. Meanwhile, as for innovation, the online gaming firm highlighted the development of the proprietary Kindred Sportsbook Platform (KSP), which Kindred expects will allow it to offer “a unique and differentiated entertainment experience, tailor-made to meet the demands of our diverse market portfolio.”

“Our financial performance in 2023 has been robust, with a 13% increase in revenue, showcasing the effectiveness of our strategic initiatives,” added Kindred. “We’re committed to growing our share of revenue from locally regulated markets, as well as carefully managing our cost base to enable a truly scalable business.”

“As we look to the future, Kindred Group remains dedicated to enhancing our customer experience, driving innovation, providing exclusive content, and promoting responsible gambling. Our journey is far from over, and we are excited to continue leading the way in transforming online gambling into a trusted and sustainable form of entertainment.”