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Kindred Group

From Wikipedia, the free encyclopedia

Kindred Group Plc
TypePublic
IndustryOnline gambling
Founded1997; 29 years ago (1997)
FounderAnders Ström
SuccessorFDJ United
HeadquartersMalta
Number of locations
Australia, Belgium, Denmark, Estonia, France, Gibraltar, Guernsey, Italy, Malta, Sweden, UK, Romania
Key people
Nils Anden (CEO)
Revenue£751.4 million (2017)[1]
Number of employees
2348
Websitewww.kindredgroup.com

Kindred Group (formerly Unibet Group Plc) is an online gambling operator comprising nine brands, including Unibet, Maria Casino, Vlad Cazino and 32Red. The group offers online casino, online poker, online bingo and sports betting products. It is registered in Malta, with additional offices in Gibraltar, London and Stockholm. Kindred Group was listed on the Stockholm Stock Exchange until its acquisition by La Française des Jeux (FDJ) in October 2024.[2]

History

[edit]

In 2011, Unibet was granted one of 48 licenses issued under Denmark's newly regulated gambling market.[3]

In 2012, Unibet acquired the Danish bookmaker Bet24.[4]

On 19 May 2014, Unibet's shareholders approved the spin-off of its business-to-business subsidiary, Kambi Group Plc.[5] Kindred retained a distributed 95 per cent stake, and Kambi began trading independently on the NASDAQ OMX Stockholm First North on 2 June 2014.[6]

Effective 31 December 2014, Unibet acquired Bingo.com Ltd.'s domain and real-money gambling business for $8 million. The price was paid partly in cash and partly through the redemption of Unibet's 15,000,000 shares in Bingo.com at $0.40 each.[7]

In July 2015, Unibet acquired the online business of StanJames.com for a reported £19 million, excluding the Stan James high-street betting shops, which were rebranded Megabet.[8][9] The StanJames.com brand was discontinued on 26 February 2018, with customer accounts transferred to Kindred Group.[10]

On 14 November 2016, Unibet became the first gambling operator to integrate the Swedish electronic identification service BankID.[11] The following month, shareholders approved renaming the company Kindred Group Plc, citing a shift toward a multi-brand strategy.[12][13]

In February 2017, Kindred Group acquired the Gibraltar-based operator 32Red for approximately £176 million. The acquisition was completed in June 2017.[14]

In January 2018, Kindred launched an online gambling ad-blocking tool developed with Betfilter, intended to prevent self-excluded customers from being shown gambling advertisements.[15]

Kindred entered the United States sports betting market in August 2018 through a partnership with the Hard Rock Hotel & Casino Atlantic City in New Jersey.[16] In January 2019, Kindred formed a similar partnership with Mohegan Sun Pocono to enter the Pennsylvania market.[17] Following a strategic review launched in April 2023, Kindred announced in November 2023 that it would exit all North American markets by the second quarter of 2024. The exit was accompanied by a reduction of more than 300 corporate positions and projected annual cost savings of approximately £40 million.[18][19]

In its third-quarter 2024 report, Kindred Group recorded total revenue of £294.5 million, a 4 per cent increase year-on-year. Underlying EBITDA rose 49 per cent to £63.4 million. Active customers increased 9 per cent to 1,701,100.[20] In October 2024, FDJ completed its acquisition of Kindred Group after its tender offer secured more than 90 per cent of Kindred's outstanding share capital.[21]

Controversies and regulatory actions

[edit]

United Kingdom

[edit]

In March 2023, the UK Gambling Commission fined Kindred subsidiaries 32Red Limited and Platinum Gaming Limited a combined £7.1 million for social responsibility and anti-money laundering failings, and issued both with official warnings.[22][23]

Norway

[edit]

Norway's gambling authority Lotteritilsynet imposed a coercive fine of NOK 1.198 million per day in September 2022 against Kindred's Malta-licensed subsidiary Trannel International unless it ceased offering online gambling to Norwegian residents. The fine was to continue until Trannel's estimated annual gross profit in Norway was reached or the company withdrew.[24] The regulator paused and restarted the daily fines over 2022-2023 as Trannel adjusted its position pending appeals.[25] Following the dispute, Lotteritilsynet stated in September 2023 that Kindred would withdraw from the country.[26]

Sweden

[edit]

Kindred's Swedish subsidiary Spooniker Ltd received a SEK 100 million sanction fee in 2020 for violations of Sweden's bonus rules. The Administrative Court of Appeal reduced the fee to SEK 50 million and then to SEK 30 million in May 2024.[27][28] In May 2025, the Swedish Gambling Authority (Spelinspektionen) issued Spooniker a further warning and a SEK 10 million penalty for deficiencies in customer due diligence and anti-money-laundering controls.[29][30] In July 2026, an administrative court in Linköping dismissed Spooniker's appeal and upheld the fine, along with related anti-money-laundering fines against operators Betsson and Snabbare.[31]

Netherlands

[edit]

On 18 December 2024, the Dutch gambling regulator Kansspelautoriteit fined Optdeck Service Limited, operator of Kindred's Unibet in the Netherlands, €400,000 for allowing players listed in the national self-exclusion register Cruks to register and gamble during late 2022 and early 2023.[32][33]

Denmark

[edit]

In December 2021 and February 2022, Denmark's gambling authority Spillemyndigheden issued orders and warnings to Unibet (Denmark) Limited for breaches of customer due diligence and anti-money-laundering requirements, citing failures to obtain sufficient source-of-funds information and to investigate high-risk activity.[34][35]

Sponsorship

[edit]

Kindred's Unibet brand has been the front-of-shirt sponsor of Scottish football club Rangers since 2021, with the 32Red brand sponsoring the club's training kit. The agreement was extended in September 2024 to run through the 2028-29 season.[36]

References

[edit]
  1. ↑ "Kindred 2017 annual report Eng" (PDF).
  2. ↑ "Kindred Group announces changes to Board of Directors following la Française des Jeux buyout". maltaceos.mt. 15 October 2024. Retrieved 4 January 2025.
  3. ↑ "Danish Gambling Authority hands out first licences". Calvin Ayre Foundation. 15 December 2011. Retrieved 19 April 2014.
  4. ↑ Stagno-Navarra, Karl. "Unibet acquires Bet24 and transfers employees to Malta". MediaToday. Retrieved 19 April 2014.
  5. ↑ "Unibet shareholders approve Kambi spin-off at AGM". www.gamingintelligence.com. 13 August 2015. Retrieved 3 December 2015.
  6. ↑ "Kambi - NASDAQ OMX NORDIC". www.nasdaqomxnordic.com. Retrieved 3 December 2015.
  7. ↑ "Unibet buys Bingo.com". intergameonline.com. 23 June 2015.
  8. ↑ "Unibet Group plc: Unibet Acquires Stan James Online". Business Wire. 10 July 2015. Retrieved 23 February 2017.
  9. ↑ "MEGABET - Place your bets". www.megabet.co.uk. Retrieved 17 June 2017.
  10. ↑ "Kindred Group shuts down Stan James Online". SBC News. 28 February 2018. Retrieved 22 July 2026.
  11. ↑ "Unibet Group first gambling operator to integrate BankID in Sweden". news.cision.com. Retrieved 17 November 2016.
  12. ↑ "Unibet Group plc: Unibet officially renamed Kindred Group Plc". Gambling Insider. 6 December 2016. Retrieved 23 February 2017.
  13. ↑ "BRIEF-Unibet Group says to change name to Kindred Group". Reuters. 29 September 2016. Retrieved 17 June 2017.
  14. ↑ "Kindred to Buy 32Red for $219 Million in Latest Gaming Deal". Bloomberg. 23 February 2017. Retrieved 23 February 2017.
  15. ↑ "Kindred Group ups Social Responsibility drive with launch of 'AdBlocker' tool". SBC News. 16 January 2018. Retrieved 22 July 2026.
  16. ↑ "Kindred Group Connects With Hard Rock Atlantic City For NJ Sports Betting". Play NJ. 17 August 2018. Archived from the original on 29 August 2018. Retrieved 28 August 2018.
  17. ↑ Allabaugh, Denise (29 January 2019). "Mohegan Sun Pocono to offer sports betting, online gaming". The Citizens' Voice. Wilkes-Barre, PA. Retrieved 29 January 2019.
  18. ↑ "Kindred calls on full North American exit". SBC News. 29 November 2023. Retrieved 22 July 2026.
  19. ↑ "Kindred Group to quit US market and slash headcount by 300". NEXT.io. November 2023. Retrieved 22 July 2026.
  20. ↑ "Kindred on course to meet full-year guidance as Q3 revenue climbs 4%". iGB. October 2024. Retrieved 22 July 2026.
  21. ↑ "FDJ completes Kindred Group acquisition". Gaming Intelligence. 4 October 2024. Retrieved 22 July 2026.
  22. ↑ "Gambling Commission fines 32Red and Platinum Gaming £7.1m". Gambling Commission. 23 March 2023. Retrieved 28 August 2025.
  23. ↑ "UK's gambling regulator fines 32Red, Platinum Gaming $8.8 mln". Reuters. 23 March 2023. Retrieved 28 August 2025.
  24. ↑ Leirdal, Bjørn (15 September 2022). "The Norwegian Gambling Authority gives Unibet owners a fine of NOK 1.2 million per day". lottstift. Retrieved 28 August 2025.
  25. ↑ Fletcher, Robert (7 October 2022). "Lotteritilsynet halts daily fines as Kindred stops targeting Norway". iGB. Retrieved 28 August 2025.
  26. ↑ O'Hagan, Marese (14 September 2023). "Kindred to withdraw from Norway". iGB. Retrieved 28 August 2025.
  27. ↑ "The Administrative Court of Appeal reduces Kindred's sanction fee from 2020". PRnewswire. Retrieved 28 August 2025.
  28. ↑ "Swedish Court Reduces Kindred's Bonus Rule Penalty". GGB News. Retrieved 28 August 2025.
  29. ↑ "Spooniker Ltd får varning och sanktionsavgift för brister i arbetet mot penningtvätt och finansiering av terrorism". www.spelinspektionen.se (in Swedish). 6 May 2025. Retrieved 28 August 2025.
  30. ↑ "Swedish Gambling Authority Slaps Kindred With $10M Fine". Gambling News. May 2025. Retrieved 22 July 2026.
  31. ↑ Pankratyeva, Alexandra (8 July 2026). "Swedish court upholds AML fines against Betsson, Snabbare, Spooniker". European Gaming Industry News. "GeengeeEU". Retrieved 22 July 2026.
  32. ↑ "Boete van €400.000 voor Unibet voor toelaten spelers die in Cruks staan". Kansspelautoriteit (in Dutch). Archived from the original on 17 April 2025. Retrieved 28 August 2025.
  33. ↑ Fletcher, Robert (20 December 2024). "Dutch regulator fines Unibet €400,000 for self-exclusion breach". iGB. Retrieved 28 August 2025.
  34. ↑ "Order and action brought against Unibet (Denmark) Limited for breach of the Anti-Money Laundering Act". www.spillemyndigheden.dk. Retrieved 28 August 2025.
  35. ↑ Fletcher, Robert (18 February 2022). "Danish regulator issues further warning to Unibet over AML breaches". iGB. Retrieved 28 August 2025.
  36. ↑ "Kindred Group does double deal for Unibet and 32 Red brands on Rangers kit". Inside World Football. 18 September 2024. Retrieved 22 June 2026.
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