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Swedish marketing spend and duties slash Kindred Group profit in Q1

24th April 2019 8:09 am GMT
Kindred

Stockholm-listed gaming operator Kindred Group grew first quarter revenue by 8 per cent to £224.4m, although the reregulation of its home market of Sweden contributed to a 50 per cent decline in profit after tax.

The Swedish market contributed gross winnings revenue of SEK207.4m (approx. £16.5m) to the Q1 total after deducting bonuses of SEK137.9m (£11.0m), while Swedish betting duties climbed to £5.2m and marketing spend climbed to £3.8m.

The company said Wednesday that the reregulation of [...]

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