Kindred Group has lauded a “great opportunity” for the online gambling group, after it teamed-up with Turf Paradise to secure expansion within Arizona.
Following on from a first retail sportsbook launch with the Grand Canyon State at Paradise Casino in Yuma, the aforementioned alliance has obtained nine limited event wagering operator licenses to operate sports betting in the region.
Through its Turf Paradise collaboration, Kindred has detailed that it will work to enhance the exposure of its Unibet sports betting and igaming brand across Arizona.
As a result of obtaining the LEWO licenses, Unibet will conduct event wagering at an array of locations, including Turf Paradise, Brookside II, Charley’s Sports Grill, Gallagher’s 16th, Gallagher’s Baseline, Harold’s, R.T. O’Sullivan, Boston’s Bar and Midtown Tavern.
“Being awarded nine of the ten LEWO licenses is a great outcome for Kindred, Turf Paradise and our partners in the state. This is a great opportunity for Kindred Group to expand the Unibet brand in Arizona and build on the early success in the state,” commented Manuel Stan, SVP North America, Kindred Group.
“Over the next few months, we will work closely with our partners to prepare the launches in the different locations and are excited to be able to bring our best-in-class product to more customers in Arizona.”
Last month, Kindred disclosed ambitions to contribute to a “sustainable gambling industry in the Netherlands” following licence submission in the country, as the gambling group reflected on its “strongest year to-date” despite enduring a challenging Q4.
Faced with significant headwinds, such as tough comparatives and a cessation of Dutch services, the firm’s headline performance was maintained despite suffering a 32.8 per cent slump in revenue through 2021’s final quarter to £364.7m (2020: £244.9m).
As a result, and with revenue in the group’s ‘casino and games’ and ‘poker and other products’ segment dropping 25 per cent and 27 per cent, respectively, the group’s underlying EBITDA decreased by 77 per cent to £27.6m (2020: £118m).
However, Q4 impacts did not derail the groups full-year financial results, with revenue of £1.259bn up 11 per cent on corresponding FY2020 results of £1.130bn, and underlying EBITDA growing 15 per cent to £332m (2020: £288m).