- Online poker revenue at Kindred Group skyrocketed in Q2 2020 to £9.7 million.
- It sets an all-time high for the operator and is the highest reported annual growth in four years.
- Poker made up over 4% of group revenue, up from last quarter’s 3% and well above the traditional 2%-2.5%.
Online poker revenue at Kindred Group skyrocketed in Q2 2020 to £9.7 million, more than double the same quarter in 2019.
It sets an all-time high for the operator and is the highest reported annual growth in four years.
Online poker made up 4.1% of total group revenue, by far the largest in recent history. Its share traditionally hovers around 2% to 2.5%, and it set a new watermark in Q1 when it hit a 3% share.
Online casino revenue also grew in Q1 2020, though by a more measured 40%. It was just enough to offset the declines in online sports, traditionally Kindred Group’s largest vertical, which fell 38% year-over-year.
In total, the group managed to report year-over-year revenue growth in Q2 2020 of 3.9% to £235.1 million.
These dramatic changes in the portfolio—with casino accounting for almost two thirds of revenue, when it is usually less than 50%—are due to the shift in consumer habits under to the coronavirus pandemic. Sporting events were mostly canceled during the quarter, and consumer spend shifted to casino and sports.
With sporting events resuming, it is expected that activity will shift away from casino and poker and back to sports in Q3.
