Kindred Withdraws Spanish Gambling License Application to Pursue US Expansion

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Kindred Withdraws Spanish Gambling License Application to Pursue US Expansion

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Online gambling operator Kindred Group said earlier this week that it would no longer pursue licensing in Spain and would instead focus its attention on expanding across the United States and on solidifying its Swedish operation.

The Stockholm-listed online gambling group submitted its application for a license from Spain’s gambling regulator – Dirección General de Ordenación del Juego (DGOJ) – last December. However, it decided to end the license application process in June 2019 as the deadline for adjusting its platform to ensure compliance Spanish gambling rules approached.

Commenting on its decision to drop its Spanish license pursuit, a spokesperson for the company told EGR that it would instead focus its short-term resources on the US and Sweden.

Kindred recently debuted its flagship online gambling brand Unibet in the New Jersey market through a partnership with Hard Rock Hotel & Casino Atlantic City, which the operator announced last summer. Kindred was able to go live in the New Jersey market after obtaining a Casino Service Enterprise License.

The company has also revealed plans to enter the state’s sports betting market. Next in line for Kindred’s US expansion effort will probably be Pennsylvania, where the company has clinched a partnership with Mohegan Sun Pocono. Legal online casino gaming is slated to go live in that state on Monday.

Kindred Could Revisit Spanish License Application

The operator said Wednesday that it does not generate any gambling revenue from the Spanish market. However, despite its decision to withdraw its license application, Kindred noted that Spain still has a “strategic importance” for its global operations as the country is home to the gambling group’s newest technology hub.

Kindred cut the ribbon on its Madrid tech hub last summer. It said back then that it had selected the Spanish capital after a thorough study of the potential to find great talent across locations in Europe and Southeast Asia.

Of its decision to not pursue a Spanish license, Kindred also said on Wednesday that it “remains fully committed to the Group’s strategic objective of increasing its revenue from locally licensed markets and looks forward to revisiting its Spanish license application once the process opens again.”

As mentioned earlier, aside from expanding in the US, Kindred will also focus its attention and resources on cementing its Swedish market presence. The company was among the first online gambling operators to apply for a Swedish license last summer and among the first entrants into the local gaming space, following the enforcement of Sweden’s new gambling law on January 1, 2019.

News about Kindred withdrawing its Spanish license application emerged shortly after a number of its iGaming rivals announced that they have obtained licenses from DGOJ and would soon be able to roll out their offering in the local market.

LeoVegas and Gaming Innovation Group were just a few of the companies that have boasted their upcoming entry into Spain over the past week.

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The post Kindred Withdraws Spanish Gambling License Application to Pursue US Expansion appeared first on Casino News Daily.

 


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