Unibet, one of the biggest sports betting sites in Europe, is coming to New Jersey.
Kindred Group, the parent company of Unibet, said in its earnings call that it would be entering the NJ sports betting market, but offered few details.
What we know about Unibet and NJ
Kindred Group held its Q2 earnings call this week, and the sports betting plans became publicly known.
The company continues to look for options for online casino entry in the US, but will start by launching online sports betting with its Unibet brand in New Jersey, CEO Henrik Tjärnström indicated in the call.
Kindred also indicated that it will be seeking to get into online casino and poker as it expands in the US during the call. The company, thus far, has focused on the Nordic countries and other European markets. It is one of the top-ten online gaming operators in regulated markets, with a variety of brands offering online sports and casino under the Kindred umbrella.
So who’s the casino partner for NJ sports betting?
That remains a bit of a mystery, although there are no shortage of possibilities. There are plenty of open slots for land-based casino licensees to work with sports betting providers who want to operate their own brand in the state.
There is one connection we can make. Kambi Group is a spinoff of Kindred Group that provides sports betting platforms for other companies. Kambi, we know, is working with daily fantasy sports turned sports betting operator DraftKings. And DraftKings Sportsbook will eventually operate under the license of Resorts Atlantic City.
Kindred, at one point, had at least been kicking tires on an acquisition of DraftKings.
Does any of that mean that Unibet could be coming under the Resorts license, given all those ties? It could, but there is no confirmation of that.
More to come from Unibet in the US?
Not shockingly, Tjärnström also indicated that Kindred/Unibet have their sights set well beyond just New Jersey for sports betting opportunities.
“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.
It’s not clear where that might happen in the short term, as the only possibilities seem mostly to be in West Virginia and Pennsylvania.