Kindred, which operates the Unibet and Casino brand, will exit all North American markets

The Swedish operator expects to fully withdraw operations in the North American market by the end of Q2 2024.

A cost reduction initiative is part of the withdrawal and includes a reduction of hundreds of employees and consultants during 2024.

Kindred, which operates the Unibet and Casino brand, will exit all North American markets:

• Arizona
• Indiana
• New Jersey
• Pennsylvania
• Virginia
• Ontario

The company saw the US online casinos market as a huge opportunity. After having a rough year in North America, it said it would now concentrate on its "core market footprint”, which involves the UK, Scandinavia and France.

Kindred cut 300 jobs due to its struggles in the US

The reduction process has already started, with Kindred saying it hopes to complete the withdrawal in the next seven months, subject to the regulatory process.

Kindred’s departure and cost reduction initiatives, which include cutting 300 positions, should save about $50 million annually, according to the company’s third-quarter release.

In a Kindred Group news release, Interim CEO Nils Andén, said the move was "necessary and decisive:”

"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. We can now focus our resources and tech capacity towards strategic initiatives and selected markets where we see clear potential to grow our market share.”

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