Kindred Post Disappointing 2022 Results

Online Gaming company Kindred announced disappointing full end of year figures following what the company says were “difficulties in 2022”.

Kindred announced full year revenues of £1 billion which is 15% lower than the previous year which stood at £1.2 billion, that is dispute the final quarter of the year rising 20% from the previous year to £305.5 million.

Profits were disappointing also coming in for the whole of 2022 at £129.9 million that is a fall of 61% compared to 2021 at £332.1 million.

Henrik Tjärnström Kindred CEO said: “Despite growth in our core markets and continued encouraging performance in the Netherlands, following re-entry to the market in July 2022, the fourth quarter fell significantly short of our ambitious expectations.”

“Several core markets continued to perform well during the quarter, with solid activity in France, Sweden, the UK and the Netherlands contributing to total revenue of £305.5m, an increase of 25% compared to the same period last year.

“The Netherlands continued to exceed our expectations with daily average Gross winnings revenue of £0.5m, and we remain firmly on track to being the number one operator in 2023.”