NJ online casinos which are already rallying ahead of all other states in sports-betting in the US, got yet another shot in the arm this past week from a European brand wishing to make its first national investment locally.
Unibet, a brand owned by none other than the Kindred Group is one of the largest online sports betting sites in Europe, and has announced its intention of not just offering sports betting in the state, but has further stated its intention of entering the casino and poker market nationwide as its long-term plan.
During their second-quarter earnings announcement this past week, Henrik Tjarnstrom, CEO of Kindred said that his company intends launching sports betting in New Jersey as the first step toward a national investment and roll-out. Up until now, this top-ten regulated gaming operator has been focused on the European and Nordic countries, but they clearly have much bigger ambitions ahead.
Tjarnstrom said further, “Our working hypothesis right now is when sports becomes available, we would see it as a big benefit if we could go with the Unibet brand, albeit we fully appreciate that it’s unknown in the US market, but it has worked well in Europe and we believe it could work well in the US as well”
Details and partnerships for the roll-out in the US have not yet been announced, but Unibet will be spoilt for choice with so many licensed land-based casinos being available in New Jersey at this time; added to that, the favourable sentiment in the NJ sports betting market at present makes it an excellent time for new investors to enter the sector.
Let’s unpack the most likely alliances based on current and past associations and proposed collaborations: Locally, we have the Kambi group which is an associate of the Kindred Group, and they, in turn, have been working with DraftKings, the daily sports fantasy turned sports betting operator in recent times. Now interestingly enough, DraftKings will be operating under the Resorts banner in Atlantic City. Could this be their path to the consumer market?
We also know that Kindred had formerly been in negotiations with DraftKings for acquisition at one time, so there is a significant possibility of them warming up these relationships to form new working partnerships in the future. Is this assured or hinted at by the Kindred Group in any form to date? No. This is pure speculation at this time, but something to bear in mind as we see this unfold in forthcoming months.