Business model & strategy

Kindred aims to create long-term value for our shareholders by building a business that is dynamic, fast-growing and efficient, but balances this with our responsibilities to society, to regulators and above all to our customers.

1. What we use to create value

Financial strength

Our strong cash generation allows us to combine a progressive dividend to our owners with substantial re-investment into the business.

People and knowledge

We recruit the best people across all disciplines to ensure we not only meet today’s challenges but we also prepare the business to face the future.

Our values and reputation

We operate in a transparent way with the customer always as our focus.


Excellence in technology is focused both on the constant evolution of new channels or features, as well as delivering the quality and reliability of experience that our customers expect.


We work with the best suppliers to ensure we provide the optimum mix of thrills and entertainment that our customers seek.and above all to our customers.

2. How we combine our resources to give customers the best experience

A. Product suppliers

We always strive to give our customers the best local, relevant & engaging gambling experience by offering the best products from the best product suppliers.

B. Data analytics/CRM

To be able to analyse real time data is important so we can give our customers a personalised entertainment.

C. Payment solutions

Our payment solutions have a local feel, providing local payment solutions and tailored deposit pages to the local customer.

D. Financial/regulatory reports

Every week, every month thousands of reports are created to fulfil all regulatory requirements.

3. How we maximise value through strategy

Our strategy is driven by a realistic assessment of the challenges we face and a focus on how to beat those challenges.

Key markets are re-regulating and existing regulations continue to develop.
Our strategy has been focused on re-regulation since 2010 and we have invested to ensure our whole business can adapt to this change.

The levels of investment required to build and maintain a leading market position are constantly increasing.
Through rapid organic growth and strategic M&A, we achieve the scale that brings efficiency.

Competitive rivalry between operators is intense.
We aim to continue to take market share and to build on strength in our core markets by being the most innovative operator.

The opportunity still exists for growth in markets that have been considered as mature for many years.
We aim for Kindred to be where our customers want us to be, with offers tailored to their needs.

Growth brings complexity, risking our ability to be agile.
Our internal focus is on efficiency and scalability to ensure growth is sustainable.

4. Outcomes and outputs

Rewarding investors in the longer term

Gross winnings revenue, adjusted for costs, capital investments, movements in working capital and tax payments, flows through to free cash flow, which is available to distribute to shareholders as a cash dividend or to fund share buy-backs and acquisitions.

Furthering sustainable growth

Balanced with the dividends that we are able to distribute to shareholders are the investments we make back into the business. These enable Kindred to stay ahead of the competition across all areas of the business and drive future growth potential.

Making gambling safe and enjoyable for our customers

Every transaction with a customer is managed in a regulated environment either under a national licence or one of the Group’s international licences, with consistent standards of responsible gaming and consumer protection.