Kindred Highlights Achievements in 2023 Annual and Sustainability Report

One of the world’s leading online gambling operators, Kindred Group, released its 2023 Annual and Sustainability report, highlighting a number of accomplished achievements and upcoming goals. Details regarding the report emerged Wednesday with the company confirming that it has enjoyed exceptional results through the fiscal 2023 year.

Following strategic objectives Kindred demonstrated not only financial growth but reaffirmed its commitment to sustainable expansion underlined by innovation and dedication to responsible gambling. In 2023 the company reported a 13% increase in revenue year-over-year, a result that highlighted the effectiveness of its “strategic initiatives.”

Additionally, in its latest report, the company highlighted that 82% of its revenue is derived from locally regulated gambling markets. This result, Kindred said, underlines its dedication to promoting “a sustainable business model that prioritizes customer safety and societal contribution.”

Besides financial performance, the leading gambling operator takes pride in ensuring compliance with the regulations in the gambling markets where it operates. According to Kindred, compliance with the regulations enables it to deliver unique experiences to its growing customer base while expanding its market share.

“Our financial performance in 2023 has been robust, with a 13% increase in revenue, showcasing the effectiveness of our strategic initiatives. We’re committed to growing our share of revenue from locally regulated markets, as well as carefully managing our cost base to enable a truly scalable business,“

reads a statement released by Kindred

The Company Enjoys Growth Despite Challenges

Nils Andén, Kindred’s CEO, spoke about the ambitious goal the company set at the start of last year. At the time, the company anticipated reaching underlying EBITDA of at least GBP 200 million ($256.1 million) by the end of 2023, which was identified as a “bold target at the time.” Andén added that it is extremely exciting to see the company meet that target. “Knowing that we can achieve what we set our mind to, as long as we remain focused and consistent, we have agreed with our Board to deliver an underlying EBITDA of GBP 250 million by the end of 2024,” he explained.

Andén acknowledged the different challenges the company faced in 2023 across Europe and other parts of the world. Still, he said that Kindred retained its focus which ultimately resulted in further growth and expansion.

In its latest report, the company highlighted a number of future goals. Primarily, Kindred will focus on driving innovation while delivering engaging and exclusive content. Moreover, the company said it plans to further enhance its customer experience while ensuring the promotion of responsible gambling.

Last month, La Française des Jeux (FDJ), France’s premier sports betting and lottery operator, officially launched its public tender offer for Kindred. While the completion of the tender offer is subject to different regulatory approvals, FDJ anticipates acquiring a minimum of 90% of the stake in the leading betting and gaming company.