The Swedish-based Kindred Group has pulled its flagship Unibet brand from an online German market that some operators characterize as Europe’s online gaming’s “problem child.” The move will happen by July 1.
Kindred informed local authorities that it would cancel Unibet’s license applications to operate sportsbooks and virtual slots.
While noting that locally regulated markets are its “core engine” for growth, Kindred told SBC, “However, license application procedures, license conditions, and the regulatory environment need to be transparent, sustainable, and financially viable for a market to be competitive.”
Unibet thus becomes the most well-known brand to leave Germany’s Fourth Interstate Treaty on Gambling (GlüNeuRStv) regime.
Kindred added that it will focus on growing its brand in North America. Because it had not invested that much in Germany yet, the company is downplaying any economic downside to its decision. “We do not see a foundation for long-term shareholder value and customer experience at the moment. However, we appreciate that this position may change in the future.”
Kindred added, “As our operations in Germany are limited the decision will have an insignificant financial impact for Kindred.”
