Kindred to shut down North American operations
Kindred Group has recently announced that it will soon be shutting down its operations in North America.
The company’s latest announcement is part of its latest strategic review which was originally initiated at the end of April by Kindred’s Board. Through this review, the firm has decided to officially exit the gambling market of North America, with all of its operations in the continent expected to be shut down by the end of next year’s second quarter. Kindred mentioned that following this exit, it will be reallocating the resources used by its current North American operations to enhance its core market businesses.
The operator added that it will be utilizing a portion of its newly reallocated resources to initiate several expansion programs, which will include investments into several of its brands that focus on a selection of specific markets. In addition to reallocating financial resources, Kindred will also be using the technological solutions currently utilized by its North American divisions to enhance its core market operations and launch strategic programs aimed at accelerating the firm’s growth.
Lastly, Kindred’s strategic review also included several cost reduction initiatives, which includes 300 redundancies and a reduction of consulting partners. These reductions will take place throughout the upcoming year and are estimated to save the group 40 million pounds.