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 ..
