Kindred Group Penalised by the Netherlands Gambling Authority based on the 1964 Gambling Act

Kindred respects any requests from the Dutch regulator and is fully compliant with the rules set out by the Ministry of Justice and Security earlier this year. Kindred remains committed to having a constructive dialogue with the regulator and other stakeholders. While anticipating the establishment of a regulated online gambling market in 2021, Kindred aims to play a leading role in promoting Dutch gambling policy objectives, such as consumer protection. For instance, Kindred emphasises its ambition to reach zero per cent revenue from harmful gambling by 2023.

Kindred respects any requests from the Dutch regulator and is fully compliant with the rules set out by the Ministry of Justice and Security earlier this year. Kindred remains committed to having a constructive dialogue with the regulator and other stakeholders. While anticipating the establishment of a regulated online gambling market in 2021, Kindred aims to play a leading role in promoting Dutch gambling policy objectives, such as consumer protection. For instance, Kindred emphasises its ambition to reach zero per cent revenue from harmful gambling by 2023.

The Dutch Senate approved the Remote Gambling Bill on 19 February 2019, which will replace the current Gambling Act from 1964. The KSA has stated that it is expecting to issue Dutch remote licenses in the first quarter 2021, and Kindred remains committed to obtaining a licence on online sports-betting and gaming as soon as the Dutch market opens. Learnings from previously re-regulated markets in Europe, most recently in Sweden, show that obtaining a high level of channelization from the outset is imperative to ensure a successful and functioning market with strong consumer protection.

Kindred has decided to appeal the KSA ruling while awaiting the secondary legislation from the Ministry of Justice and Security as well as the KSA's publication of the policy rules on license application and requirements to establish increased clarity on the licence application process.

This information is such that Kindred Group plc is required to disclose under the EU Regulation of Market Abuse, MAR.

For more information:

Alexander Westrell, Group Head of Communications
[email protected]
+46-73-7071686

Inga Lundberg
Investor Relations Officer
[email protected]
+44-788-799-6116

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https://news.cision.com/kindred-group/r/kindred-group-penalised-by-the-netherlands-gambling-authority-based-on-the-1964-gambling-act,c2883298

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