Kindred Group revenues fall 5% in Q4 as poor sportsbook performance bites

Stockholm-listed operator hit by French turnover tax, low sportsbook margin and regulatory headwinds

Kindred Group this morning reported a 5% dip in Q4 revenues to £236.2m as the operator was plagued by below-average sportsbook margins and regulatory restrictions in the Dutch and Swedish markets. Underlying group EBITDA for the fourth quarter dropped to £30.7m, down from £58.8m in the same period in 2018. Below-average sportsbook margins from several…

Finance | France | Kindred Group | Nordics