Kindred Group plc – Unaudited trading update for the fourth quarter 2019
Since the publication of the third quarter report on 25 October 2019, gross winnings revenues across most markets have been impacted by weak sports betting margins. The margin after free bets was 8.1 per cent for the quarter, compared to 9.4 per cent in the fourth quarter of 2018. The gross turnover for the sportsbook increased by 3 per cent (5 per cent in constant currencies) compared to the fourth quarter 2018. The most significant deviation in sports betting margin occurred in France. As betting duties in France were calculated on the basis of betting turnover, the financial impact