Tag Archives: Kindred

Kindred loses lawsuit over Norway fines, but plans to appeal

Kindred loses lawsuit over Norway fines, but plans to appeal

Trannel, the business behind online sportsbook and casino Unibet, a subsidiary of Kindred Group, has lost its lawsuit against the Norwegian state – related to its presence in the country – in Oslo district court, but will appeal the decision.

Trannel initiated the lawsuit in the context of regulator Lotteri-og Stiftelsestilsynet (Lotteritilsynet) ordering the subsidiary to cease offering services in the jurisdiction. Neither Trannel nor its parent company has a licence to operate in Norway, which operates under a monopoly model.

After the initial ruling, Trannel complained to the Ministry of Culture and Gender Equality regarding alleged violations of the Gambling Act. Once the appellate body came to the same decision as the regulator, Kindred launched the lawsuit against the state.

Lotteritilsynet initially made the decision to stop Kindred brands Unibet, Mariacasino, Storspiller and Bingo doing business on 5 April 2019. After the order the gaming group was threatened with a daily ..

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Kindred to withdraw from Germany

Kindred to withdraw from Germany

Kindred brand Unibet will exit the German market on 1 July blaming the slow progress of licensing and onerous regulatory restrictions.

The operator said it had taken the “difficult decision” to withdraw its application for sportsbook and virtual slots licences, and cease all operations from 1 July.

“Our long-term strategic direction sets out locally regulated markets as the core engine for our growth, however licence application procedures, licence conditions, and the regulatory environment need to be transparent, sustainable, and financially viable for a market to be competitive,” Kindred explained.

It said the current application processes, and the terms and restrictions for product offerings, meant the regulated market was not sustainable nor competitive enough to withstand offshore competition.

“Therefore, we do not see a foundation for long-term shareholder value and customer experience at the moment.”

As its current operations in Germany are limited, the withdrawal would ..

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Unibet prepares for Ontario launch after securing igaming licence

Unibet prepares for Ontario launch after securing igaming licence

Kindred's Unibet brand has detailed its plans to launch in Ontario, having received a licence to do so.

This marks Unibet’s seventh licence in North America.

Kindred will launch its online gaming and sports betting products through Unibet under Ontario’s open regulatory model.

Ontario’s online gaming market will launch on 4 April and will be overseen by iGaming Ontario, a subsidiary of the Alcohol and Gaming Commission of Ontario (AGCO).

“This is an exciting day and a significant milestone for both Kindred and Unibet,” says Amanda Brewer, country manager Canada, Kindred Group. “We are proud to have received permission to launch in Ontario on the first day the market opens and look forward to building long-term relationships with our customers and partners.”

Several other operators secured licences ahead of the market launch, including Bet365, Flutter-owned FanDuel and PointsBet.

“Ontario is full of sports teams and passionate fans, which is no surprise given the history and ..

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Kindred records “strongest year to date” after year-on-year revenue increase

Kindred records “strongest year to date” after year-on-year revenue increase

Kindred has reported revenue figures of £1.26bn (€1.50bn/$1.71bn) for 2021, representing an 11.4% increase on the previous year.

Casino and games revenue was the biggest contributor to the total with £648.7m, up 12.0% from £579.0m in 2020. Sports betting revenue accounted £547.2m, while poker revenue came to £30.8m. Other revenue sources added a further £28.5m.

Western Europe proved to be the most lucrative region for Kindred in 2021, generating revenue of £798.4m- an increase of 13.1%. The Nordic countries followed with £287.8m, while central, eastern and southern Europe added £110.5m.

Operating costs for the year totaled £470.4m. Marketing costs were £234.7m, while administrative expenses came to £235.7m. Other costs incurred, including merger and acquisition expenses and personnel restructuring, amounted to £16.5m.

However Kindred received an extra £75.5m from regulatory sanctions and previously held equity interest.

Operating profit for 2021 was £342.2m, a rise of 66.2% ye..

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