Speaking after the group issued positive H1 2018 results, Kindred Group CEO Henrik Tjärnström outlined that 32Red could play a key role in the firm’s potential US expansion.
It’s unsurprising that the firm would want 32Red to play a role in its US expansion, after the firm’s casino offering contributed £16.9m to revenues in Q2 of the last year.
When asked what Kindred’s approach to the US market would be, the firm’s CEO confirmed that sports betting handle Unibet would be at the forefront of its plans to enter New Jersey, however detailed that in the states where a casino focus is more suitable, it would maximise the 32Red brand.
Describing the opportunity presented by the US market, Tjärnström stated: “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.”
Outlining the role 32Red could play, he continued: “But of course, it’s part of the overall discussion with potential partners. On what brand, it depends a little bit on the set up as well state by state, what kind of brands would make sense, but if nothing else, the Unibet brand is our main hypothesis for now, but we also have 32Red which could be an option if we wanted to go on a pure casino entry in some states, if that’s the opportunity.
“We’re not really fixed throughout the different states, but for New Jersey where sport is available with the Unibet brand.”
Emphasising how positive the previous period has been for Kindred, he added: “We are very happy to be up 31 per cent as reported. Of course the World Cup has been a major contributing factor, however, these are not easy times. I’m very happy to report that every Kindred division and employee came together to deliver on our plans for these championships.”
