Kindred Group to exit the Ontario market by the end of March
As part of its North American exit strategy, the operator confirms it will depart the Canadian province on March 26
Kindred Group has confirmed to its customers that its Unibet brand will be exiting the Ontario market on March 26.
In an email to customers, the firm said users would still be able to access the site as normal and that it was working closely with iGaming Ontario (iGO) and the Alcohol and Gaming Commission of Ontario (AGCO) to ensure the transition process went as smoothly as possible.
The Stockholm-listed firm also said that over the next few weeks users would be given updated information regarding the withdrawal of their funds and bonus usage. The operator has insisted players should withdraw any remaining funds in their accounts by March 26.
Kindred confirmed it would send new information on the settlement of any pending bets as well as the decommissioning of its Jackpot Game.
The email concluded: “This decision was not made lightly, as we have worked hard to bring the best gaming experience to our valued players in Ontario.”
Kindred also operates in Arizona, Indiana, New Jersey, Pennsylvania, and Virginia and, at the time of writing, it is unclear when a withdrawal from these states will occur.
The exit from Ontario, forms part of the planned North American market exit that Kindred announced following its Q3 2023 results.
The decision to leave the market formed part of the firm’s strategic review to maximize value for shareholders.
Kindred said it would exit the North American market by the end of Q2 2024, pending regulatory approval.
Explaining the reasoning for the decision, Kindred noted that continued losses from North America were putting pressure on group-wide targets.
Since the announcement, French operator Française des Jeux has tabled a £2.1bn ($2.5bn) cash offer for Kindred, representing one of the biggest M&A moves in industry history.
Kindred chose not to comment on the Ontario exit when approached by EGR.