Auf Wiedersehen: Kindred Group bids farewell to Germany… for now

Kindred Group has decided to pull its flagship Unibet brand from Germany, citing unsustainable market conditions.

kindred unibet gi web image
Listen To Article

Gambling Insider has received confirmation of the group’s intent to cancel ongoing licence applications and cease all operations in Germany effective 1 July.

In explaining the decision, Kindred blamed a cumbersome licensing process and overly restrictive regulatory environment, though it acknowledged this may change.

“Our long-term strategic direction sets out locally regulated markets as the core engine for our growth, however licence application procedures, licence conditions and the regulatory environment need to be transparent, sustainable and financially viable for a market to be competitive,” said Kindred in quotes sent to Gambling Insider.

“The current application procedures as well as the terms and restrictions in specific product offerings means that the overall conditions are not sustainable and competitive against the unlicensed offering.

“Therefore, 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 has for more than two years been mired in the licensing process for Unibet but said, in that time, has shifted its strategic priorities elsewhere.

“As a result of the lengthy sportsbook licence application process in Germany, which has been going on for over two years, we have put more focus on strategic projects elsewhere,” added Kindred.

“We are dedicating full attention to growing our North American market, achieving greater product control with the Kindred Sportsbook Platform and the acquisition of Relax Gaming, expanding our single platform vision and achieving our ‘Journey Towards Zero’.”

Kindred called the financial impact of its departure “insignificant” owing to the company’s limited operations in Germany.

Premium+ Connections
Premium Connections
Executive Profiles
Penn Entertainment
Flutter Entertainment
Barstool Sports

London calling

Gambling Insider looks ahead to the sixth Global Gaming Awar...

Innovating fantasy

StatHero CEO and Founder Jason Jaramillo speaks to the GI Hu...

The uncut pearl

In this issue, Gambling Insider looks at three of Asia’s m...

Singapore: Age of the VIP

Gambling Insider looks at the Asian nation's high prospects...

Read Magazine

25 November, 2022

Asia round-up: Emperor, ACMA, Malaysia & our top stories from the region this week

In today's Asia round-up, we look at news from Emperor Entertainment, ACMA, Malaysia and recap the biggest stories from the continent this week...