Kindred Group receives Dutch gaming licence
The operator’s revenue has suffered since it began blocking Dutch players in October.
The Netherlands.- When the newly regulated Dutch online gaming market launched at the start of October, several major players began to block Dutch players from their sites to conform with the new regulations. One of those operators has now secured a Dutch licence.
Kindred Group has been blocking Dutch players while it took steps to secure its own Dutch licence, a process that required it to wait for a cooling-off period to pass. It’s now obtained a licence from the Dutch gambling regulator de Kansspelautoriteit (KSA) to offer online gambling and betting.
Kindred said it will launch its Unibet brand in the Netherlands in the next few days.
Chief executive Henrik Tjärnström said: “The Netherlands is a large and important European market and one that we look forward to operating in with a local licence.
“We have been advocating local licence schemes for the past decade, and are thrilled that our newly awarded licence in the Netherlands will allow us to deepen and develop our involvement in the Dutch society, as well as actively contribute to a fair and sustainable gambling market.
“As part of our long-term ambitions and strategy, we are eager to provide a safe, secure and entertaining gambling experience for Dutch customers.”
Kindred has seen a signficant impact on revenue since it began blocking Dutch players. Revenue for the first quarter was down 31 per cent year-on-year.
Gross winnings revenue (B2C) was down 31 per cent to £242.4m, largely because of the block on customers in the Netherlands. Outside of the Netherlands, gross winnings were down 7 per cent (or 3 per cent in constant currency).
Meanwhile, the New York hedge fund Corvex Management is pushing Kindred Group‘s board to investigate selling the company after it reported that it now owns 10 per cent of the group’s shares and voting rights. The activist investor, which is run by Keith Arlyn Meister, made a statement disclosing its stake to comply with Swedish regulations.
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