Kindred Group Pulls Plug on North American Operations
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Players in Pennsylvania will have one less online casino to choose from in 2024 with the news that Kindred Group will soon be shutting down their North American operation.
Kindred Group has been operating the Unibet online casino and sportsbook in Pennsylvania, as well as being licensed in Ontario, Indiana, Arizona, Virginia, and New Jersey.
Major Cost-Cutting Initiative
Kindred Group announced they will immediately begin the departure process from North America and expect to be fully exited by the end of Q2 2024, subject to regulatory process.
In a summary to investors, the company indicated it intends to drive growth in core markets like the United Kingdom and Scandinavia, in part from the just over $50 million USD in cost savings from the North America manoeuvre. Over 300 employees will be let go.
There have also been rumblings that the company might be sold.
Pennsylvania’s Online Casino Market Provides Continued Growth
“The cost reduction actions announced today are both necessary and decisive. While it is never a desire to inform valued colleagues of redundancies, this puts us in a stronger position to secure long-term growth for Kindred across our locally regulated core markets,” said Nils Andén, Interim CEO of Kindred Group.
“We can now focus our resources and tech capacity towards strategic initiatives and selected markets where we see clear potential to grow our market share.”
Pennsylvania will be down to 19 licensed PA online casinos when Unibet exits, still making it one of the largest markets in North America.
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