Change of focus
Popular online gambling operator Kindred Group will not be pursuing a license to operate in Spain anymore. Instead, it will be looking to expand into the budding US market.
The operator is also intent on cementing its position in the Swedish market. Founded in Sweden, Kindred Group currently has a listing on the Stockholm exchange.
In December, it put forward a submission for an online gambling license to the gambling regulator in Spain, the Dirección General de Ordenación del Juego (DGOJ). However, it withdrew the proposal in June.
Kindred was due to alter portions of its offering to meet compliance rules in the Spanish market when it decided not to go ahead with its application. However, it will not be turning its backs on Spain forever.
The group spoke about how the country is still an area of “strategic importance” for its worldwide operations, with its new tech hub also located in Madrid. It was inaugurated in summer 2018, after Kindred identified the capital city as the ideal base to access Spain’s great talent pool. The statement announcing the application withdrawal also mentions that the group will revisit the Spanish license once the process opens up again in the future.
Burgeoning markets
The Kindred Group’s main online gambling brand is Unibet, in addition to others like 32Red, iGame, and Maria Casino.
Unibet has made its debut in the US market via New Jersey, through a partnership with the Hard Rock Hotel and Casino in Atlantic City.
This partnership has been in the works for nearly a year, and the group was able to launch its new online casino platform after getting a Casino Service Enterprise License. There are plans to also launch a sportsbook in New Jersey in the near future.
There will also be an expansion into the Pennsylvania market. Kindred is partnering up with the local Mohegan Sun Pocono, and online casinos are scheduled to launch for the first time in this state on July 15. With more states looking to legalize online gaming, it is a good time for Kindred to establish a presence in the US market.
The Swedish gambling market is also taking off after the state monopoly on gambling officially came to an end in January. The Kindred Group was one of the first operators to apply for a license in Sweden, and among the first to launch their offerings after the new regulatory framework came into place on January 1, 2019.