Kindred to launch platform in New Jersey
The New Jersey Division of Gaming Enforcement has approved Kindred’s gaming platform.
US.- Kindred has received final approval for its proprietary platform from the New Jersey Division of Gaming Enforcement (NJDGE). The platform is expected to go live in the state in May.
The approval is an important step towards rolling out the Kindred platform in North America. The firm expects to launch the platform in Pennsylvania during the second quarter of 2023. The Kindred platform is expected to provide improved flexibility and performance through analytics and data.
Henrik Tjärnström, CEO of Kindred Group, said: “I am very pleased that we are now able to launch our own Kindred platform in New Jersey, and I am immensely proud of everybody at Kindred who has made this possible. Introducing the Kindred platform to our customers in New Jersey will provide the entertainment and experience enjoyed by our customers in Europe.
“We are now finally able to show off our true Unibet product. I also want to thank the NJDGE for a professional collaboration during the approval process”.
Kindred to take “immediate actions to improve profitability”
Kindred Group insisted that it would take “immediate actions to improve profitability” after 2022 revenue fell by 15 per cent year on year to £1bn. Despite a strong Q4, with revenue up 20 per cent at £305.5m, the operator’s results fell short of expectations, particularly in World Cup betting.
Underlying EBITDA for 2022 was £129.2m, down of 61 per cent. Profit after tax was £120.1m. It now intends to focus on reducing losses in North America, re-prioritising investment projects and optimising group operating expenses to boost scalability.
