{"id":38857,"date":"2019-07-25T07:29:02","date_gmt":"2019-07-25T07:29:02","guid":{"rendered":"https:\/\/gaming-awards.com\/NEWS\/?p=38857"},"modified":"2019-07-25T07:29:02","modified_gmt":"2019-07-25T07:29:02","slug":"kindreds-share-price-drops","status":"publish","type":"post","link":"https:\/\/gaming-awards.com\/NEWS\/kindreds-share-price-drops\/","title":{"rendered":"Kindred\u2019s share price drops"},"content":{"rendered":"<p style=\"text-align: left;\"><span style=\"margin: 0px; color: black; font-family: 'Calibri Light',sans-serif;\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-medium wp-image-24763\" src=\"https:\/\/gaming-awards.com\/NEWS\/wp-content\/uploads\/2014\/04\/shareprice-300x182.jpg\" alt=\"\" width=\"300\" height=\"182\" srcset=\"https:\/\/gaming-awards.com\/NEWS\/wp-content\/uploads\/2014\/04\/shareprice-300x182.jpg 300w, https:\/\/gaming-awards.com\/NEWS\/wp-content\/uploads\/2014\/04\/shareprice-250x152.jpg 250w, https:\/\/gaming-awards.com\/NEWS\/wp-content\/uploads\/2014\/04\/shareprice-405x246.jpg 405w, https:\/\/gaming-awards.com\/NEWS\/wp-content\/uploads\/2014\/04\/shareprice-638x388.jpg 638w, https:\/\/gaming-awards.com\/NEWS\/wp-content\/uploads\/2014\/04\/shareprice-619x377.jpg 619w, https:\/\/gaming-awards.com\/NEWS\/wp-content\/uploads\/2014\/04\/shareprice.jpg 640w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/>The Kindred group has announced revenue of \u00a3450.6m for H1 of 2019, a figure that represents a 6% year-on-year increase.<\/span><\/p>\n<p style=\"text-align: left;\"><span style=\"margin: 0px; color: black; font-family: 'Calibri Light',sans-serif;\">However, despite this income rise, EBITDA dropped 32% to \u00a361.1.m, as profit before tax faced a significant decline, down 48%,<\/span><span style=\"margin: 0px; color: black; font-family: 'Calibri Light',sans-serif;\">\u00a0<\/span><\/p>\n<p style=\"text-align: left;\"><span style=\"margin: 0px; color: black; font-family: 'Calibri Light',sans-serif;\">As an explanation for this decline, Kindred pointed to a tough comparative period, pointing to their Swedish deregulation issue and the 2018 Fifa World Cup. <\/span><\/p>\n<p style=\"text-align: left;\"><span style=\"margin: 0px; color: black; font-family: 'Calibri Light',sans-serif;\">When markets opened following the publication of the figures, the operator\u2019s share price fell 20% to SEK 66.50.<\/span><span style=\"margin: 0px; color: black; font-family: 'Calibri Light',sans-serif;\">\u00a0<\/span><\/p>\n<p style=\"text-align: left;\"><span style=\"margin: 0px; color: black; font-family: 'Calibri Light',sans-serif;\">This figure represents the lowest point of the operators\u2019 share price in the last six months.<\/span><\/p>\n<p style=\"text-align: left;\"><span style=\"margin: 0px; color: black; font-family: 'Calibri Light',sans-serif;\">For the second quarter, Kindred reported a gross revenue of \u00a3226.2million, a rise of 3% year-on-year. <\/span><\/p>\n<p style=\"text-align: left;\"><span style=\"margin: 0px; color: black; font-family: 'Calibri Light',sans-serif;\">EBITDA dropped 27% to \u00a330.5m in Q2, while profit before tax totalled \u00a314.7m, down 49%.<\/span><\/p>\n<p style=\"text-align: left;\"><span style=\"margin: 0px; color: black; font-family: 'Calibri Light',sans-serif;\">Kindred also saw its number of active customers fall 5% during Q2 to 1,478,437.<\/span><\/p>\n<p style=\"text-align: left;\"><span style=\"margin: 0px; color: black; font-family: 'Calibri Light',sans-serif;\">Henrik Tj\u00e4rnstr\u00f6m, Kindred Group CEO, said: &#8220;Of the group\u2019s gross revenue, 59% came from locally licensed markets which represented 41% growth compared to the same quarter last year (a growth of 19% excluding Sweden).<\/span><\/p>\n<p style=\"text-align: left;\"><span style=\"margin: 0px; color: black; font-family: 'Calibri Light',sans-serif;\">&#8220;This focus on growth in locally licensed markets is very much part of our strategy and, as expected, has resulted in margin pressure from higher betting duties.&#8221;<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Kindred group has announced revenue of \u00a3450.6m for H1 of 2019, a figure that represents a 6% year-on-year increase. However, despite this income rise, EBITDA dropped 32% to \u00a361.1.m, as profit before tax faced a significant decline, down 48%,\u00a0 As an explanation for this decline, Kindred pointed to a tough comparative period, pointing to [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":31260,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11,3,8],"tags":[],"class_list":["post-38857","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-headlines","category-igaming","category-latest"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Kindred\u2019s share price drops - iGaming Post<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/gaming-awards.com\/NEWS\/kindreds-share-price-drops\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Kindred\u2019s share price drops - iGaming Post\" \/>\n<meta property=\"og:description\" content=\"The Kindred group has announced revenue of \u00a3450.6m for H1 of 2019, a figure that represents a 6% year-on-year increase. However, despite this income rise, EBITDA dropped 32% to \u00a361.1.m, as profit before tax faced a significant decline, down 48%,\u00a0 As an explanation for this decline, Kindred pointed to a tough comparative period, pointing to [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/gaming-awards.com\/NEWS\/kindreds-share-price-drops\/\" \/>\n<meta property=\"og:site_name\" content=\"iGaming Post\" \/>\n<meta property=\"article:published_time\" content=\"2019-07-25T07:29:02+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/gaming-awards.com\/NEWS\/wp-content\/uploads\/2017\/02\/Kindred-Group-logo.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"2000\" \/>\n\t<meta property=\"og:image:height\" content=\"676\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Debbie\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@igamingpost\" \/>\n<meta name=\"twitter:site\" content=\"@igamingpost\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Debbie\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/gaming-awards.com\\\/NEWS\\\/kindreds-share-price-drops\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/gaming-awards.com\\\/NEWS\\\/kindreds-share-price-drops\\\/\"},\"author\":{\"name\":\"Debbie\",\"@id\":\"https:\\\/\\\/gaming-awards.com\\\/NEWS\\\/#\\\/schema\\\/person\\\/ec908169f7d4e72f9d6188460253f623\"},\"headline\":\"Kindred\u2019s share price drops\",\"datePublished\":\"2019-07-25T07:29:02+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/gaming-awards.com\\\/NEWS\\\/kindreds-share-price-drops\\\/\"},\"wordCount\":199,\"publisher\":{\"@id\":\"https:\\\/\\\/gaming-awards.com\\\/NEWS\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/gaming-awards.com\\\/NEWS\\\/kindreds-share-price-drops\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/gaming-awards.com\\\/NEWS\\\/wp-content\\\/uploads\\\/2017\\\/02\\\/Kindred-Group-logo.jpg\",\"articleSection\":[\"Headlines\",\"iGaming\",\"Latest\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/gaming-awards.com\\\/NEWS\\\/kindreds-share-price-drops\\\/\",\"url\":\"https:\\\/\\\/gaming-awards.com\\\/NEWS\\\/kindreds-share-price-drops\\\/\",\"name\":\"Kindred\u2019s share price drops - 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