Kindred chief executive Henrik Tjärnström said the operator does not expect to break even in the US states where it is currently active until 2026, but that it would nonetheless remain committed to the market.
During an earnings call following Kindred’s Q3 results, Tjärnström offered an update on Kindred’s performance in the US market. Here, he said the business hoped to break even by 2026.
“We are now live in seven states,” he said. “We’re going to reduce that to six when we leave Iowa and then increase it again to seven with Washington.
“We have been in an investment position across our state footprint and it will take some time, a few years to achieve profitability.
“We’re expecting the contribution from 2022 to be negative from 2021, but then in 2023 we’re reducing those losses and by 2026 we’ll be breakeven across our current state footprint.”
Last week, FuboTV became one of the highest-profile operators to exit the US market, highlighting the difficulty in turning a profit ..