Kindred increases US Presence via Unibet tribal casino
The major Swedish online gambling group Kindred has expanded its presence in the US with its Unibet brand, which has partnered with the Swinomish tribe and the Swinomish Casino and Lodge in Anacortes, Washington.
Such a move will see a deal span six years, while there is also a five-year extension right cooked into the agreement. The co-branded Unibet project will see a retail sportsbook launched in the Swinomish Casino.
Currently, online gambling and betting are prohibited in the north-western state; however, it is possible to make bets on-site via a mobile device.
Despite the launch being subject to regulatory approval and the granting of a licence, it would be the seventh state in the US where Unibet is currently providing sports betting opportunities.
Arizona, New Jersey, Pennsylvania, Indiana, Iowa, and Virginia are the others where Unibet operates, while it is also present in the recently regulated Canadian province of Ontario.
Plans in place for further US expansion
It was revealed that Kindred Group has designs on continuing to build its presence in the US, with the conditions of the market understood to offer a business model there that is perceived in the company, as sustainable.
For many non-US operators in the country, it has been hard to carve a niche and also make an impact - Fubo TV was among the latest entities to put a halt to its sportsbook operations and close it down.
One thing that works in Kindred’s favour is that it has a significantly strong balance sheet, aided by its European activities, with its brands dominating multiple markets. In addition to this, it also has a strong reputation and long history, which has helped to give it an edge in emerging online gambling markets such as the US.
The group’s recent acquisition of online gambling software provider Relax Gaming, in addition to the overhaul of the group’s sportsbook platform, will assist in helping increase scalability and positive cash flow generation by 2025.
All of this can aid Kindred in making sure that its brands are well-positioned to have a further impact in the US, while its tribal casino integration in Washington could be an astute strategy if online sports betting does become legal in the state.
Positioning itself to become a global leader
As well as its increased US operations, Kindred Group has been busy of late. Having recently launched in the Netherlands, witnessing a positive impact, it has outlined plans to take a 15 per cent market share in the country by the end of this year.
Plus, there are strategies in place to expand its presence in other emerging European markets, while an ambitious, increased roll-out in Australia is also understood to be on the agenda.
The key for Kindred Group is making sure that it does not spread its resources too thin, especially given the markets that it is targeting. It cannot afford to get distracted, though its tactical operations in the US could help to leverage its brand considerably.
Author: Amelia Smith
Amelia Smith knows a lot about different areas of gambling. She's been our main writer for most things since 2019. She spoke at a big conference in London in 2022 and has been recognized at several industry events.
This news article was published on 27-10-2022
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