Kindred Group continues US expansion with retail sportsbook deal in Washington
Kindred Group has struck a deal to launch its Unibet sports betting brand in a seventh US state.
The operator is now primed to enter Washington after sealing a long-term agreement with the Swinomish Tribe in Anacortes, a federally recognised tribe established in 1855.
Kindred will now launch a Unibet- and Swinomish-branded retail sportsbook at Swinomish Casino & Lodge in Anacortes, Washington, pending licensure and regulatory approval.
The initial phase of the market-access agreement and strategic partnership covers six years, with the possibility to extend for an additional five-year contract.
“We are very excited to expand our footprint in the US, and to do so together with the Swinomish tribe,” said Manuel Stan, Kindred Group SVP of North America.
“The opening of a Sportsbook Lounge at the Swinomish Casino and Lodge will allow us to offer best in class sports betting experience,” he added.
No date has been set for the Washington launch. It will become Kindred Group’s seventh active US state when it does go live.
Kindred already provides online gambling operations in New Jersey, Virginia, Iowa and Indiana, as well as Pennsylvania and Arizona, where it is also live with retail sportsbooks.
It also has market-access deals in place in Ohio, Illinois and California, but is yet to launch in any of those states.
While Illinois has become the third largest US sports betting market, online wagering is unlikely to reach California until 2024 at the earliest, with Proposition 27 headed for defeat on next month’s ballot.
The Stockholm-listed operator has said it will continue to invest in growing its US operations in states where market conditions support a sustainable business model.
According to the October 2022 edition of Eilers & Krejcik’s US Sports Betting Market Monitor, Unibet has an estimated GGR market share of just 0.27% across the US.
Kindred is aiming for mid-single-digit market share by 2026, by which time it hopes to achieve profitability in the US.
In Q2 2022, North America made a negative underlying EBITDA contribution to the overall business of £7.4m.