Business & Industry
3 Min read
Unibet Poker continues to prove that focusing on casual players and the lighter side of gaming is a winning strategy.
Proof that you don’t always have to offer high-stakes tournaments and pro-friendly features came courtesy of the Kindred Group’s latest quarterly report.
Unibet Poker Continues to Thrive
Per the Q3 report, Unibet Poker generated £24million/$31 million in revenue between January and September 2020. That’s almost £10 million/$13 million more than it made during the same period in 2019.
Online poker revenue for Q3 was down on the previous quarter, however. Kindred CEO Henrik Tjärnström cited the easing of COVID-19 restrictions in Europe and the return of live sport for the drop. Despite the quarterly downswing, Q3 earnings are still up on an annual basis.
Comparing like-for-like, revenue in the third quarter of 2020 was £6.8 million/$8.8 million. During the same period in 2019, it was £5.2 million/$6.7 million.
The latest results also compare favorably to 2019’s overall total. Unibet Poker made £21.3 million/$27.7 million last year. Even before the company’s Q4 results are published, it’s surpassed that figure in 2020.
The impact of COVID-19 restrictions can’t be understated. Like every other online gaming company, Unibet has seen an influx of customers during national lockdowns. The upswing is also a testament to the company’s continued focus on casual players.
COVID and Casual Players Boost Revenue
When Unibet partnered with Relax Gaming to create a standalone network, the mission statement was simple: make poker fun. The strategy wasn’t unique but, of all the operators to try this approach, Unibet has been the standout performer.
Kindred has maintained this focus in 2020, and capitalized on a COVID-induced upswing by improving its software. A restyled desktop and mobile app launched during the third quarter.
It’s too early to assess the impact this will have. However, Tjärnström is confident the recent surge of activity has raised the poker’s baseline.
That’s important as all online poker operators are now looking at the potential impact of a COVID-19 vaccine. Although Pfizer’s experimental drug is still in its testing phase, there is hope it will help the world will return to normal in 2021.
Even so, the residual impact of 2020 may mean companies like Unibet continue to see higher levels of activity for the next few years.