Kindred Group given New Jersey proprietary platform go-ahead
Operator hails DGE approval as allowing operator to “show off our true Unibet product” in US market
Kindred Group has today confirmed receipt of final approval by the New Jersey Division of Gaming Enforcement (DGE) for its improved proprietary technology platform.
The platform is expected to go live in New Jersey midway through May, with “continuous improvements” being made throughout the post-launch period.
It is understood the platform will get the go ahead in Pennsylvania sometime during Q2 2023.
“The Kindred platform is expected to provide much improved flexibility and performance through a richer set of analytics and data,” Kindred said in a statement confirming the approval.
“It will also give Unibet customers in New Jersey an enhanced experience where products and content can be tailored to a greater extent, with wider options and offerings.
“The Kindred platform will equally cater for Kindred’s safer gambling approach in accordance with local needs and requirements,” the firm added.
The Unibet sportsbook operator initially targeted a launch of its platform during Q3 2022 but was forced to stall amid further testing by the Garden State regulator.
In October, Kindred Group CEO Henrik Tjärnström cited delays in working with the DGE, as well as other partners and stakeholders, in the lead up to going live as the most arduous part of the entire process.
Speaking as part of today’s announcement, Tjärnström hailed the contribution of his team and the regulator.
“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,” the CEO said.
“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,” Tjärnström added.
Kindred has largely stuttered in the US market, reporting a negative contribution to its overall revenue for much of 2022 due to high investment in its US improvements, something which the operator has pigeonholed as a significant long-term revenue opportunity.
Part of this is the transition to the new platform, with an expectation to be EBITDA-contribution positive or near to break even across its entire US business by 2026.
In Q4 2022, Kindred exited the Iowa market as part of a strategic pivot to focus on markets which allow both online casino and sports betting. Kindred is now operational across a number of North American markets including New Jersey, Pennsylvania, Indiana, Virginia, Arizona, and the Canadian province of Ontario.
Kindred will launch in Washington State later this quarter following the agreement of a partnership with the Swinomish Tribe in October 2022.