Kindred Applies for Gambling Licence in Sweden
VALLETTA, Malta, Aug. 10, 2018 /PRNewswire/ -- Kindred Group has formally applied for a licence to operate betting and online gambling services in Sweden. A successful application will mean that Kindred can finally compete on equal terms in Sweden and strengthen its commitment to Swedish society.
Since its foundation twenty years ago, Kindred Group (previously Unibet Group) has fought for a modern gambling regulation in Sweden, giving consumers the gambling experience they require in a safe and secure environment. An important step in this direction was taken in June when the Swedish Parliament voted to re-regulate the gambling market.
Kindred has today formally applied for a gambling licence to operate betting and online gambling services in Sweden, which is in line with the Group's long-term strategy to operate in locally licenced markets. At the end of the second quarter of 2018, 43 per cent of Gross Winnings Revenue was derived from locally regulated markets.
"It is very satisfying that we finally can take this important step towards fair and equal terms within the Swedish market, competing on the same level as other operators. Kindred has always applied great effort to understanding what our customers want, giving them a great experience in a safe and secure environment with the highest responsible gambling standards", says Henrik Tjärnström, CEO of Kindred Group.
"What is even more pleasing is that we can extend our commitment to Swedish society through different sponsorships and partnerships. Already in the days following the Parliament's ruling in June, we have demonstrated our ambition by signing a twelve-year sponsorship deal with the Swedish Elite Football Association", continues Henrik Tjärnström.
Subject to approval of its licence application, Sweden will become Kindred's thirteenth locally licenced market.
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Company Codes: Bloomberg:KINDSDB@SS, ISIN:SE0007871645, RICS:KINDSDB.ST, Stockholm:KIND
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