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Kindred’s Unibet to stop operating in Germany
Recently Kindred Group announced that starting from July 1st Unibet is going to leave Germany.
The group told authorities that they have made the decision to remove Unibet’s slots and sportsbooks license applications to take part in Fourth Interstate Treaty on Gambling regime.
Kindred said its decision was made after evaluating the conditions of the business and funding GlüNeuRStv’s application offered “unsustainable and uncompetitive compared to an unlicensed offer”.
Unibet is the highest profile company to leave the regime, during which Kindred considered a 2 years wait time to obtain a market license, which was not considered a strategic priority.
The group explained that the decision about leaving Germany is due to their plan to expand in North America.
“Currently we don’t see a reason for extended shareholder value and customer experience. Though we value the fact that there is a possibility for this position to change. As we have restricted activities in the region our financial performance won’t be affected by this choice.”
commented Kindred.
Glücksspielbehörde, a new regulatory agency is expected to be established and fix some problems of the German market.
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