Kindred goes west towards California and Arizona
Kindred Group continues its expansion in the US market by partnering up with the Quechan Tribe of the Fort Yuma Indian Reservation. By entering this agreement Kindred Group will gain market access to two additional key states, California and Arizona.
After successful launches in New Jersey, Pennsylvania, Indiana and with signed agreements for an additional seven states, Kindred, through its flagship brand Unibet, is now taking a step further west. The agreement spans over a 10 year period with option of extending and includes sports betting, both online as well as retail, and iGaming.
“Going west is truly exciting and the partnership with Quechan Tribe of the Fort Yuma Indian Reservation will grant Kindred access to two key states in the US market. California is likely to become one of the largest markets in the world, with yearly revenues expected to pass $2bn while Arizona, is expected to reach $200m yearly sports betting revenues at maturity. Securing early access to these two key states puts us in a great position to prepare a successful launch together with a great partner with a strong local presence”, says Manuel Stan, SVP US, Kindred Group.
“The Quechan Indian Tribe of Arizona and California is excited to be partnered with the Kindred Group, a world leading online sports book and gambling company, which will bring an exciting new form of gambling to the public and revenue for our tribal members”, states President Jordan Joaquin.
The launch timetable for both States is conditioned by local legislation. Arizona is likely to regulate first and with a draft bill on the table and support from the governor, Kindred is hopeful that the legislature will approve the initiative in 2021.
Kindred Group will continue to invest in growing its US operations where market conditions support a sustainable business model.
This disclosure contains information that Kindred Group is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 09-02-2021 07:30 CET.
For more information
Manuel Stan, SVP US Kindred
Maria Angell-Dupont, External Communications Manager
+46 721 651 517
About Kindred Group
Kindred Group is one of the world’s leading online gambling operators with business across Europe, US and Australia, offering over 27 million customers across 9 brands a great form of entertainment in a safe, fair and sustainable environment. The company, which employs about 1,700 people, is listed on Nasdaq Stockholm Large Cap and is a member of the European Gaming and Betting Association (EGBA) and founding member of IBIA (International Betting Integrity Association). Kindred Group is audited and certified by eCOGRA for compliance with the 2014 EU Recommendation on Consumer Protection and Responsible Gambling (2014/478/EU). Read more on www.kindredgroup.com