Kindred goes west towards California and Arizona

"Going west is truly exciting and the partnership with Quechan Tribe of the Fort Yuma Indian Reservation will grant Kindred access to two key states in the US market. California is likely to become one of the largest markets in the world, with yearly revenues expected to pass $2bn while Arizona, is expected to reach $200m yearly sports betting revenues at maturity. Securing early access to these two key states puts us in a great position to prepare a successful launch together with a great partner with a strong local presence", says Manuel Stan, SVP US, Kindred Group.

"Going west is truly exciting and the partnership with Quechan Tribe of the Fort Yuma Indian Reservation will grant Kindred access to two key states in the US market. California is likely to become one of the largest markets in the world, with yearly revenues expected to pass $2bn while Arizona, is expected to reach $200m yearly sports betting revenues at maturity. Securing early access to these two key states puts us in a great position to prepare a successful launch together with a great partner with a strong local presence", says Manuel Stan, SVP US, Kindred Group.

"The Quechan Indian Tribe of Arizona and California is excited to be partnered with the Kindred Group, a world leading online sports book and gambling company, which will bring an exciting new form of gambling to the public and revenue for our tribal members", states President Jordan Joaquin.

The launch timetable for both States is conditioned by local legislation. Arizona is likely to regulate first and with a draft bill on the table and support from the governor, Kindred is hopeful that the legislature will approve the initiative in 2021.

Kindred Group will continue to invest in growing its US operations where market conditions support a sustainable business model.

This disclosure contains information that Kindred Group is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 09-02-202107:30 CET.

CONTACT:

For more information

Manuel Stan, SVP US Kindred
[email protected]
Maria Angell-Dupont, External Communications Manager
+46 721 651 517
[email protected]

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https://news.cision.com/kindred-group/r/kindred-goes-west-towards-california-and-arizona,c3282380

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