Online gaming firm Kindred Group, which announced a new US partnership this week with the Quechan Tribe of the Fort Yuma Indian Reservation, has published its Q4 and full-year results for 2020.
Q4 gross winnings revenue amounted to $505.1m ($327.2m), an increase of 54%, while underlying EBITDA was $163.4m ($42.5m). Pre-tax profits for the quarter came in at $136.7m ($18.4m).
During the full year 2020, Kindred saw the number of active customers reach 1,781,617 (1,603,903), while gross winnings revenue amounted to $1,565m ($1,264m), an increase of 24 per cent. Full year underlying EBITDA was $397.2m ($180m), with profit before tax of $267.5m ($92.9m).
CEO Henrik Tjärnström updated investors, saying: “I am pleased that we can finally put 2020, a difficult year for most people, businesses and countries, behind us. It has certainly been a year we will all remember.
“At Kindred, we have successfully managed to navigate these uncertain times and have continued to attract customers who enjoy a safe and entertaining gambling experience, resulting in several new all-time highs this quarter including active customers and gross winnings revenue, which increased 54% from the fourth quarter of 2019 to £364.7m ($505.1m).
“The fourth quarter delivered strong results thanks to our scalable business model, continued focus on costs and impressive growth in active customers to 1.78 million. The busy sports calendar and a slightly higher than normal sports betting margin of 10%, together with encouraging growth of 52% in casino & games compared to the fourth quarter of 2019, have all contributed to our notable growth in gross winnings revenue.
“The sector also firmly established itself in the US market during 2020, and our Unibet brand continues to deliver here according to plan with a gross winnings revenue contribution of £23.8m ($33m) for the full year. Being one of the largest operators in the world, I look forward to our continued journey in the US as Unibet projects to launch in both Illinois and Iowa during 2021.”