Kindred Group withdraws its brand Unibet from the German gaming market.
Kindred Group is officially withdrawing its Unibet brand from the German gaming market. The group has, in recent times, become one of the leading gaming operators in the German gaming market. To this effect, it’s hard to heed its usual uncertainty in the regulated German gaming market hitting a rock.
The growth pressure and unpredictability of regulation from deliberate decision to restructure its efforts have led to this movement. The company has previously withdrawn from another popular market, the Dutch gaming market, resulting in a 30% drop in the company’s first-quarter revenue year-on-year.
Kindred Group Still At The Middle
With this development, the company is yet to ascertain its position in the two regulated markets. Kindred Group recently received a gambling license in the Netherland to launch its casino brands and gaming operation in the region. Although, we may also experience such height in the coming days as the position is uncertain.
Reports reveal why the brand is leaving the German gaming market as it considers it unnecessary at the main time. The group’s commitment to long-term expansion strategies in a locally regulated market is still at its peak. Yet there are conditions that the brand needs to put forward.
Commenting on the development is Kindred spokesperson.
“Although, license application procedures, regulatory environment, and condition need to be sustainable, transparent, and financially viable for a market to be scalable and competitive.” —- Kindred Spokesperson —-
The Group Sees A Bigger Picture
Kindred Group is not interested in small play but looks forward to an offshore market where regulated operators are put at a disadvantage level. The German market still abhors offshore gaming despite the efforts put forward by the country’s relevant authority. To achieve this, the country’s lawmakers will be required to put together a bill that welcomes all to the environment where regulated operators thrive.
The brand air its opinion on not adhering to a long-term opportunity for shareholder value or customer experience. Unibet’s official website, which Kindred Group put forth for a license, will still be open until June 30, but new users and players will be put on hold until that time.
The website will be officially shut down on July 1 as the group looks forward to working in other markets. Ontario, one of the biggest iGaming markets, has drawn the attention of all gaming brands and would be a fit for the group. Kindred Group acquiring Relax Gaming to its portfolio will give them a foothold in the North American market to excel with the brand.
Although, with Unibet’s withdrawal from the German gaming market, there may be a hitch that leads to the brand’s second-quarter result.