Kindred Group Secures Swedish Online Gambling License

Sweden has issued new online gambling licenses on Friday and they launched the list of brands which received it. Kindred Group has managed…

…to secure the gambling license by the Swedish Gambling Authority after a time-consuming application process

This is an important step for the company and its plans on the local level and it fits its long-term strategy perfectly.

It’s Official

The Swedish Gambling Authority (SGA) has approved the license application for Kindred Group on November 30th, 2018. In other words, Kindred will be able to place their products online on the re-regulated Swedish market from January 1st, 2019. With the permit granted, Kindred Group is also expected to increase its revenue in the year.

“Today is a historic day for Kindred. We have been pushing for a modern and sustainable gambling market in Sweden from the very start of Unibet in 1997, in which the focus is on consumer protection and harm minimization”, explained Henrik Tjärnström, CEO of Kindred Group.

“I am extremely proud and delighted that we have finally reached this point and look forward to a new and better future for Kindred, for local sport and for those who enjoy gambling, in Sweden,” added the CEO.

Future Plans

The company will release five of its brands on the newly-licensed market at the beginning of the next year. The new license is a major step for Kindred but earlier in the year…

…the company has made some efforts to enter the market and get a head start

Namely, they penned a deal with the Swedish Elite Football Association that is the primary sponsor for the leagues Allsvenskan and Superettan.

“The licence in Sweden will give us new opportunities to provide our customers with an even better and more relevant gambling experience through new partnerships and offerings. It will also allow us to develop our involvement in Swedish society by engaging in local activities and projects, such as the sponsorship of Allsvenskan and Superettan,” comments Dersim Sylwan, General Manager Sweden at Kindred Group.

Summer Application

Kindred Group applied for the Swedish license in the mid-August and getting this now is quite satisfying. It is essential to point out that ever since its foundation…

…Kindred Group has advocated modern gambling regulation and a safe environment in Sweden!

Receiving this license means a tad more to this brand as they will now have a chance to compete with other names in a better regulated market.

More than Sweden

Besides being focused on getting this license, the supplier has not neglected the other markets. Several weeks after submitting the application, they signed a five-year partnership with Hard Rock Hotel & Casino in Atlantic City.

After five years, an optional extension of additional five years is possible. The company has arrived just in time as sports betting in the United States is spreading like wildfire!

With the new license acquired, financial growth is expected, especially in the first quarter of 2019. There aren’t any reasons for the brand not to be profitable in the beginning of the year. It is important to note that Q1 of 2018 went pretty well and it will be hard to beat it.

Source:

“Kindred Group secures Swedish gambling licence”, kindredgroup.com, November 30, 2018.