The Kindred Group, a leading global online gambling operator, has unveiled its preliminary financial report for the fourth quarter and full year of 2023. According to the report, the company’s overall revenue for Q4 2023 reached £312.9 million ($398 million), marking a 2% increase from the same period in 2022. Additionally, the underlying EBITDA for the latest trading period saw a significant increase, with Kindred posting £56.8 million ($72.2 million) in underlying EBITDA for Q4 2023, compared to £39.1 million ($49.7 million) for the corresponding period in 2022.

Looking at the full year performance, Kindred reported a total revenue of £1.21 billion ($1.54 billion) for 2023, an increase from the £1.07 billion ($1.36 billion) reported for 2022. However, it’s important to note that these figures are preliminary and have not yet undergone audit. The company confirmed that its year-end report for 2023 will be released on February 7.

In a statement released by Kindred Group, the company emphasized its strong performance in key markets during the fourth quarter of 2023. They also highlighted the encouraging growth and scalability of Relax Gaming’s business model.

The release of the preliminary results coincided with a major announcement of a potential acquisition. La Française des Jeux (FDJ), the leading lottery and sports betting operator in France, hinted at plans to acquire Kindred in a deal worth a staggering $2.5 billion.

Kindred attributed its successful fourth quarter to strong growth and solid performance in strategic markets, particularly noting the growing position of Relax Gaming. The company also pointed out that the results from the fourth quarter serve as evidence of the scalability of its business model.

In Q4 2023, Kindred reported a 5% increase in casino and games’ gross winnings revenue compared to the same period the previous year, despite initially observing a historically low betting margin in October. Regulatory changes in Norway and Belgium continue to impact the company’s operations, but Kindred has seen strong growth within the casino segment in markets such as Romania, the Netherlands, and the UK over the last year.

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