Kindred Has Three-Year Plan To Achieve Significant Revenue Growth
Posted on: September 15, 2022, 11:19h.
Last updated on: September 15, 2022, 04:26h.
The Kindred Group is looking at a very bright future for its gaming operations. Amid a changing global market, it has set a revenue target for its overall performance of $1.8 billion within three years.
The company announced its goal on Wednesday and expects to have 75-100% free cash flow by 2025. If it accomplishes its objective, it will have increased its revenue by more than 27% from its 2021 level.
Grabbing a larger part of the markets it serves is one of the company’s priorities. This is especially true in Europe and Australia, which are expected “with a growth rate of 7% between 2020 and 2026.”
According to the company, the Netherlands will deliver Kindred a considerable portion of its success. It returned to the Dutch market two months ago after a nine-month absence and is beginning to rebuild its position. H2 Gambling Capital expects the Netherlands to see a considerable improvement in its gaming industry.
This is partially the result of the efficient completion of a strict licensing process and oversight, according to the company.
Uphill Climb
Another priority for the company will be leveraging strategic investments, such as the Relax Gaming acquisition and the development of the Kindred Sportsbook Platform. Kindred anticipates both to give it a considerable edge in the increasingly competitive gaming market.
Building upon the solid North American market as the region matures will also be crucial for the brand’s future. However, the founding member of the International Betting Integrity Association realizes that it has some obstacles to overcome in the region.
It’s fighting against entrenched domestic operators to control a bigger market share. Although there has been significant growth overall, Kindred’s regional revenue has not changed significantly in the past two years.
Achieving its 2025 goals is not going to be an easy task, however. Q1 didn’t deliver the results it expected.
Soaring With the Eagles
Since 2019, Kindred’s Unibet has been a partner of the NFL’s Philadelphia Eagles. That began a year after the Eagles won Super Bowl LII.
The two renewed their partnership earlier this month. It will run through the 2024-25 season, giving Unibet extended exposure at the Eagles’ Lincoln Financial Field. It also includes a new item, Unibet Landing. This campaign designates an area of the stadium to host fan engagement activities.
The gaming platform’s customers have access to Eagles-branded slots, blackjack, and other games that also help support its marketing efforts. Unibet didn’t announce the financial terms of the arrangement, but the initial agreement must have proven beneficial.
Across the pond, Kindred hopes adding a new payment provider will help it experience growth. Nuvei announced today that it will provide payment services for the company in “many of its key markets” in Europe but didn’t specify which.
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Source: casino.org
