Kindred puts Spain on back-burner despite Western European growth
CEO Henrik Tjärnström says the operator has no immediate plans to launch in Spain as he is mindful of “trying to do too much at the same time”
Kindred Group CEO Henrik Tjärnström has revealed the operator has no plans to apply for a Spanish licence any time in the near future.
The Swedish operator reported its Q2 financial results yesterday, where group revenues climbed 31% to £219m, thanks largely to a 43% rise in sports betting revenues during the 2018 World Cup.
During the period, Kindred gained market share in the vast majority of western European markets including France, Belgium, Germany and the Netherlands.
Kindred has also made a significant impact in the UK, the operator’s top-performing market in western Europe helped by the acquisitions of Stan James and 32Red.
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But Tjärnström insists Kindred won’t be targeting another significant western European market in Spain. When asked by analysts if Kindred had a Spanish licence, he said: “No – we are looking opportunistically at all markets and now the licence window is open in Spain it is an opportunity that we could go for, but we also strongly believe in focus and not trying to do too much at the same time.
“But again, it is a country with a big population and in the long-term, online will be big there as well so it is more a question of time for us,” he added.