A major online betting firm, Kindred, is aiming to leverage its strong standing in the Netherlands and the United States to enhance its performance in the latter half of the year.

Kindred’s chief executive, Henrik Tjärnström, stated that the company’s re-entry into the Dutch market has exceeded their anticipations.

He further mentioned that despite limited marketing expenditures, they anticipate the Dutch market to contribute to increased earnings in the near future.

Earlier today, Kindred disclosed a 32.2% decline in revenue during the initial six months of the year. All of their core businesses have experienced a downturn in sales.

Their report excluded revenue from the Netherlands due to their previous withdrawal from the country in compliance with regulations. They returned earlier this month after a nine-month absence.

Previously, Kindred had estimated that their departure from the Netherlands could result in a profit loss of up to £144 million (€170.1 million/$171.1 million). This withdrawal significantly impacted player numbers, with a reduction of 600,000 players across all markets in the second quarter.

When inquired about their return to the Dutch market, Tjärnström expressed optimism about their progress despite being in the initial stages.

“We anticipate achieving profitability within the next few months,” he remarked. “This will facilitate our attainment of the long-term objective of restoring our online EBITDA margins to 20% within the next two to three years.”

Although the promotional effort hasn’t fully commenced, we’ve already witnessed very robust involvement. We’re continuously analyzing the marketing expenditure and yield.

Thus far, our performance in the Netherlands has surpassed anticipations.

In the United States, Tjärnström stated that nationwide progress has been consistent and is anticipated to continue expanding.

In other regions, Tjärnström indicated they’ve observed favorable development in diverse states. In New Jersey, they intend to introduce their own platform in the third quarter and amplify investment to sustain the growth pattern.

Tjärnström also expressed gratitude for Kindred’s advancement in the US sports sector.

He remarked, “Our turnover in the US sports sector has escalated by 30%. Sports are performing exceptionally well in this domain.”

Tjärnström also deliberated on the more stringent affordability measures implemented in the UK, which affected their second-quarter earnings.

“We’ve enforced stricter financial measures and diminished safeguards for clients. Certain measures will be further implemented in the forthcoming months. It’s all about curtailing spending and scrutinizing clients beforehand.

“We are required to request documentation, which isn’t the most ideal customer experience.”

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