An online legal sports betting giant is expanding its market access in North America.
Kindred Group — the owner of sports betting and casino brand Unibet — has received final approval from the New Jersey Division of Gaming Enforcement to launch its proprietary platform in the state. The platform, which improves Unibet’s performance, will go live in May.
“Introducing the Kindred platform to our customers in New Jersey will provide the entertainment and experience enjoyed by our customers in Europe,” said CEO Henrik Tjärnström. “We are now finally able to show off our true Unibet product.”
Unibet first offered online sports betting in New Jersey in 2019, marking the sportsbook’s first presence in the U.S. The company also secured its first sponsorship deal in the U.S. with a multiyear pact with the New Jersey Devils. The deal includes in-arena and digital promotions.
As one of New Jersey’s emerging online betting sites, Unibet helped the state post a total sports betting handle of $1.03 billion in March, up from $847.4 million during the previous month. The results, which were attributed to the men’s and women’s March Madness tournaments, helped New Jersey generate $93 million in revenue from wagering — a 40.1% increase year-over-year.
What's next?
Kindred also plans to bring its proprietary platform to Pennsylvania during Q2 2023. Outside of New Jersey and Pennsylvania, Unibet is also currently live in Arizona, Indiana, and Virginia.
The sportsbook also has plans to gain market access in Illinois and Washington despite shuttering its operations in Iowa back in November 2022. Unibet made the decision following a drop in handle and revenue in The Hawkeye State.
Kindred reported $5.5 million in revenue from its North American operations in Q4 2022, which made up only 1.4% of the company’s total revenue of $380 million during the quarter.
