Many UK casinos to enter 2021 in good shape

Many UK casinos to enter 2021 in good shape

Published by Mandy Cohen, 10 November 2020

Kindred Group reported a 24% revenue increase in Q3 after its active customer base soared to a record high.

The firm announced revenue of £280.7 million for the three months to September 30, which was also up 19% on the previous quarter.

Online casino revenue increased 38.5% year-on-year to £145 million, while sports betting grew at a more modest rate of 10.5%, resulting in overall growth of 24%. Kindred owns several popular sites, including Unibet, 32Red and Bingo.com. All positioned well as we soon will update our top lists here at TopCasinoSites to reflect the best rated UK casinos 2021.

Western Europe was the star performer for the group, with revenue increasing 28% year-on-year to £173.3 million. Revenue in the Nordics suffered a slight decrease to £66 million.

Kindred had 1.65 million active customers in Q3, which helped the group deliver its best ever revenue figures.

That strong Q3 performance means that Kindred’s revenue is up 13.1% in the first nine months of 2020, and profit has almost doubled.

Chief executive chief executive Henrik Tjärnström said:

As an organisation we continue to endure the pandemic and our dedicated teams are doing a terrific job as they run the business from their homes.

GVC Holdings and 888 Holdings are among the other leading lights to report strong Q3 figures. However, rival operator LeoVegas blamed online casino restrictions in Sweden as it reported revenue growth of just 0.8% to £80.2 million for the third quarter.

Read the full statement from Kindred here.

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