Stockholm-listed iGaming operator Kindred Group has reported a 36 per cent increase in gross winnings revenue to £207.8m in the first quarter of 2018, benefiting from a record high number of active customers.

The company’s sports betting offering saw the biggest year-on-year growth as revenue increased by 43 per cent to £94.7m in Q1, with live betting accounting for just over half of the total.

Kindred explained that after an exceptional sportsbook margin (Q4 2017: 10.5 per cent) in the previous quarter, sports betting margins normalised in Q1 at 8.2 per cent after free bets, compared to 6.0 per cent a year ago.

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