CEO at Kindred, Nils Anden, has revealed that the company will progress with its North American exit towards the end of Q2 in 2024.

Kindred CEO Confirms North American Exit For 2024

The plan to offload around 300 jobs at Kindred is in the works, according to Anden, as it begins to pick up speed following the initial announcement in November.

Anden spoke about the plan to downsize in North America, helping his company direct focus to its main objective – increasing reach in Europe and Australia.

He said (Per Kindred Group): “Our growth plan that we launched during the fourth quarter last year, focusing on Europe and Australia, continues at pace with dedicated strategic growth projects across locally regulated markets.”

Kindred reported a Q1 revenue of $382.5 million, which is a slight increase from the $380.8m made during Q1 of 2023.

Another factor that saw an increase was the underlying EBITDA, which finished on $73.7m and improved by 20%, after reaching $61.4m in 2023.

Financial improvement was not the only major increase at Kindred, as active customers also saw a slight rise – growing by 3% to 1.7m customers.

Anden revealed that the revenue was hugely positive, but also highlighted how the performance from Kindred’s B2B arm, Relax Gaming, also saw great success.

He said (Per Kindred Group): “During the quarter, we launched the Kindred Sportsbook Platform (KSP) in a test market, and we are very pleased with the progress to date,

“KSP remains one of our most important strategic projects and will give us the flexibility and differentiation needed to improve growth in locally regulated markets,

“Our share of gross winnings revenue from locally regulated markets came in at a new all-time high of 84 per cent, indicating our continued focus to sustainable revenue and our commitment to a positive contribution to societies,

“Following a solid start to the year we now have our eyes firmly set on a much sought after summer of sports with the UEFA Euros, the Copa America and the Paris Olympics.”