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Kindred Stays Out of The Netherlands until Acquiring Gambling License

After the company decided to temporarily cease its activities in the Netherlands on September 30 due to policy changes, Kindred announced on Tuesday that it will keep its offering for Dutch residents suspended until a license is granted by the Dutch regulator (KSA).

In a statement, the company said it is submitting its license application later in Q4, 2021 to service the Dutch market under the Dutch Remote Gambling Act. The online operator expects to be able to legally offers its games in Q2, 2022, pending successful review of the application.

The last minute changes by the Dutch licensor affecting Kindred’s operations in the Netherlands were announced by the Dutch Minister for Legal Protection on September 20 and caught many large online gaming operators by surprise.

Kindred’s CEO Henrik Tjärnström, thought the company adhered to all necessary licensing criteria to enter the Dutch market, which included already serving a “cooling-off” period in the six months prior to October. The latter being a requirement for all licensees that previously targeted Dutch customers without a license, such as Flutter brand PokerStars and popular Entain brand, bwin.

Nevertheless, Kindred understands the situation and stated in a press release:

“Kindred’s ambition is to be a sustainable operator in the Netherlands contributing to the Dutch society once a license is awarded.”

Tjärnström added:

“The opening of the online gambling market in the Netherlands is a very positive step for all involved. We look forward to receiving our Dutch license during 2022, and thereby positively contribute to the Dutch society as a valued expert in achieving a sustainable gambling market.”

The regulated online gambling market in the Netherlands officially launched on October 1, 2021.

Kindred Q3 Numbers

Kindred also published its Q3 numbers of the year and they were impressive, showcasing double digit growth in recent months.

In the third quarter, revenues have grown to an impressive 298.4m pounds, an improvement of 6%, with the underlying EBITDA up by 13% and more than 84 million pounds. Even more impressive is the group’s nine-month growth since January this year of 33%, from 765.5 million to 1.014 billion pounds.

The post Kindred Stays Out of The Netherlands until Acquiring Gambling License appeared first on iGaming.org.

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Author: iGaming Team