Kindred Quits Gambling Business in North America, Cuts 300 Jobs

Kindred, the gambling giant behind brands like Unibet and 32Red, has announced that it will pull out of all North American markets (Canada and the US) by the end of Q2 2024, according to SBC News.

The reason for this move is to focus on the core markets where Kindred has a strong presence and performance. These include European countries such as the Netherlands, Sweden, and Denmark.

On the other hand, the North American markets have been a source of losses for Kindred. The company’s brands are currently active in Ontario (Canada) and five US states: Arizona, New Jersey, Indiana, Pennsylvania, and Virginia. However, these markets have not been profitable enough to justify the investment.

Besides leaving North America, Kindred also plans to slash around 300 jobs worldwide (not only in North America) in 2024. This measure is expected to save the company €46.21 million per year.

Nils Andén, the interim CEO of Kindred, said: “The cost reduction actions announced today are both necessary and decisive. While it is never a desire to inform valued colleagues of redundancies, this puts us in a stronger position to secure long-term growth for Kindred across our locally regulated core markets”.