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.
IGT will pay $269.8m into a $415m settlement fund to bring the curtain down on a social gaming lawsuit filed against its former DoubleDown Interactive subsidiary in Washington State.
The lawsuit – known as Benson v. DoubleDown Interactive LLC, et. al – was initially filed by two Washington residents, plaintiffs Adrienne Benson and Mary Simonson, in 2020.
The duo, along with affected others, claimed that DoubleDown’s games constituted illegal gambling under Washington State’s Recovery of Money Lost at Gambling (RMLGA) act.
Their claim was based on the fact Double Down Casino allowed consumers to play a variety of online casino games using virtual chips.
Double Down provided an initial gift of one million free chips to new players. However, when a player had burned through their initial allotment, they could purchase additional virtual chips via the casino’s electronic store.
This constituted illegal gambling activity, according to the plaintiffs.
The case has now been settled, as of 29 August 2022.
All members of the nationwide settlement class will release their claims relating to the lawsuit after IGT and DoubleDown agreed to pay $415m into a joint settlement fund.
DoubleDown, which was sold off by IGT in 2017, will contribute $145.3m into the fund and will accrue a $70.3m expense in Q3 2022 as a result.
IGT, which had already set aside $150m relating to the dispute in Q2, will now be impacted by a further $119.8m non-operating expense in Q3.
The company said in a statement: “Subject to final court approval of the settlement of the Benson v. DoubleDown Interactive LLC, et. al lawsuit, IGT and DoubleDown have also resolved all indemnification and other claims between themselves and their respective subsidiaries and affiliates relating to the Benson Matters.”
Nevada-headquartered IGT – which is one of the biggest slots and software suppliers in the global iGaming industry – reported a 2% decrease in revenue to $1.02bn for Q2 2022.