Kindred on course to meet full-year guidance despite Q3 slipping 10%

Kindred reported total group revenue of £294.5m (€352.2m/$382.3m) in Q3 across all markets and verticals, up 3.7% from the £283.9m accumulated in the same period of last year.

However on a quarter-by-quarter basis, revenues fell short of the £327.6m generated in Q2, though these figures were boosted by the start of the Euros.

Kindred’s share of gross winnings revenue from locally regulated markets also remained stable at 83% in Q3. It first reached that record share in Q3 2023.

While Kindred didn’t disclose its Q3 EBITDA, it did say it remained on course to meet its full-year 2024 guidance of £250m.

Kindred will report its final figures for Q3 on 25 October.

Combined FDJ and Kindred revenue to be announced later today

Later today (17 October), La Française des Jeux (FDJ) will disclose combined group revenue with Kindred after FDJ completed its €2.45bn acquisition of the company earlier this month.

FDJ’s release will estimate the group’s combined revenue based on which parts of the business it will retain.

After submitting the bid to acquire Kindred back in January, FDJ said the move would create the second largest gambling operator in Europe.

The acquisition was closed when FDJ’s bid was approved by 90% of Kindred shareholders, with the operator “unanimously” recommending shareholders to accept the offer.

Following the completion of the deal, FDJ appointed a new chairman and three new directors to Kindred’s board, earlier this week.

After chairman Evert Carlsson and five directors resigned, FDJ executives Pascal Chaffard, Edeline Minaire and Célia Véro were appointed to replace them with Chaffard taking over as chairman.