Kindred Group Continue US Expansion Amid Sale Rumours

The Kindred Group is among the gambling companies that are eager to increase their presence in the US. This year has seen them launch their proprietary tech platform in New Jersey. With further expansion planned, 2023 is proving to be an important year for the European company. Could it end with the company being sold?

Final approval was required from the New Jersey Division of Gaming Enforcement (NJDGE) before Kindred were able to launch in the state. It’s their Unibet brand that it hopes will bring them success in New Jersey.

Kindred says that the new tech platform provides a “richer” set of data and analytics. Expansion in the US is important for the company. They believe that the launch in New Jersey is an “important” step for them.

It’s a competitive industry of course with both American and overseas gambling companies all out to achieve a good share of the market. The new platform in New Jersey sees Kindred aiming to create a customer experience that will boost the number who will register with them. A more customisable and personalised content and products is their aim. They also believe that their platform will create an environment in which their site members feel safe and secure.

In an age when sadly there is still a major threat from online fraud, the safety of a site’s customers is of paramount importance.

Data security is important for Kindred and this year has seen them be awarded Service Organization Controls (SOC 2). That’s a leading standard in North America that is important when it comes to the level of data security the company practices. It indicates that their security policies, procedures and information systems are of the highest standards.

Areas such as logical and physical access controls as well as change management and risk assessment were examined. The findings showed that the company is succeeding in their dedication to providing their customers with the highest level of security.

Henrik Tjärnström, was the CEO of the Kindred Group when the announcement was made. The CEO said that he was “immensely proud of everyone at Kindred who had made this possible.” He added that those in New Jersey would now be provided with “the entertainment and experience enjoyed by our customers in Europe.”

It’s gone well in New Jersey says their interim CEO Nils Andén. “Our customers have reported enhanced design, navigation and stability,” he said. They now “look forward to rolling out the Kindred platform to further (US) states.”

New Jersey is certainly an important US state to be launching in. We first made online casinos legal ten years ago. The state also played a key role in the campaign to legalise sports betting - said New Jersey Bet spokesperson.

That was successful in 2018 after a US Supreme Court Judge ruled the final decision could be made by the individual states rather than the Federal Government.

Since then the US gambling industry has been continually expanding. That hasn’t escaped the notice of overseas companies such as the Kindred Group.

July saw Kindred launch their tech platform in Pennsylvania with the Unibet Casino and Sportsbook hoping to see an increase in site membership. They first launched in the state three years ago.

The days have gone when most bookmakers simply concentrated on their own local area. The Kindred Group has launched its tech platform in Europe (particularly the UK) and also Australia.

One common feature in the gambling industry is the number of acquisitions that take place. April of this year saw Kindred make an important announcement. They plan on reviewing “strategic alternatives” and this could see a sale, partial sale or merger take place in the future.

This year may have seen some important launches but there has also been some big changes in the boardroom. This includes the departure of CEO Henrik Tjärnström. Anders Ström, who was the founder of Unibet Group which then was rebranded as Kindred says that they are “too small to survive” and a merger or sale is the best way forward for them.

With such changes and comments, there have been reports from Bloomberg of the Kindred Group possibly merging or being sold with companies such as Morgan Stanley, the Canaccord Genuity Group, Entain, Flutter Entertainment, MGM Resorts International and Evolution Gaming possibly interested.

MGM Resorts International have previously attempted to purchase Entain who own companies such as Coral and Ladbrokes. With Kindred expanding in the US, they may well be interested in some form of deal. It promises to be an interesting future for Kindred.