Nordic-facing gambling operator the Kindred Group has performed something of a 2020 miracle. Despite a worldwide lack of sports, and the collapse of businesses of all kinds, the Kindred Group somehow managed to emerge from Q2 2020 (arguably the worst single quarter in world business history) with a profit. The big, but nimble, operation managed to pivot its focus away from its traditional strengths to find profit in a market where profits were tough to find.
According to a press release from the Kindred Group, the business pulled in approximately £235 million ($296.4 million USD) in the quarter ending June 30, 2020. That’s up an impressive The release goes on to state that the company’s revenues were actually higher, about 3 percent higher, than during the same period last year when they brought in £226.2 million ($285.3 million USD). Again, this was all done during the height of quarantine when most businesses were struggling just to make ends meet.
So what was behind the Kindred Group’s big win during the pandemic? That’s tough to say because local regulations prevent the company from spilling too much info about the state of table games and slots, but sports betting is a different story. Despite the worldwide sports shutdown, the Kindred Group successfully shifted its focus to e-sports and virtual sports.
The flip side of this success is that the company cut way back on content production and other marketing costs that could eventually cost it customers.
For now, however, the Kindred Group can lay claim to making the best of a really terrible situation and scratching out some impressive profits during a miserable time.