Kindred Group finally ready for Swedish launch

Sweden’s largest gambling company, Kindred Group, said it wants to “extend our commitment to Swedish society” after formally submitting its licence application in the re-regulated market some 21 years after it was founded.

The owner of Unibet and 32Red is one of 27 companies that have now applied to launch in Sweden when the new regime begins in January. 

Kindred, which is traded on the Stockholm Nasdaq, brought in more than £750m in revenue last year, with 43% of gross winnings revenue derived from locally regulated markets.

Assuming it is successful, Sweden will become Kindred's 13th locally licenced market.

“It is very satisfying that we finally can take this important step towards fair and equal terms within the Swedish market, competing on the same level as other operators,” said Henrik Tjärnström (pictured), chief executive of Kindred Group, in a statement.

“Kindred has always applied great effort to understanding what our customers want, giving them a great experience in a safe and secure environment with the highest responsible gambling standards.”

“What is even more pleasing is that we can extend our commitment to Swedish society through different sponsorships and partnerships. Already in the days following the Parliament's ruling in June, we have demonstrated our ambition by signing a twelve-year sponsorship deal with the Swedish Elite Football Association.”

Kindred is headquartered in Malta but maintains a hub in Stockholm. It was founded by Swede Anders Ström in 1997.

Kindred described the re-regulation as “an important step” towards its aim of a Swedish market which offers “consumers the gambling experience they require in a safe and secure environment”.

Household names such as Svenska Spel and Betsson were among 22 companies that applied for Sweden’s new gambling licences on the first day of submissions on August 1. 

iGamingBusiness.com understands that up to 70 licence applications are expected to be made ahead of the re-regulation that sees state-owned Svenska Spel’s gaming monopoly end.

Lotteriinspektionen recently urged applicants to submit their documents as early as possible to be sure of being licensed before January.