Unibet Leaves the Pennsylvania Casino Market as Part of Overall North American Exit

The push to move is already underway, and the company's interim CEO, Nils Anden, has commented on these efforts in a recent statement;

"The strategic review initiated by the board remains ongoing, and we continue to advance a number of options to deliver shareholder value,"

"The board currently believes that shareholder value will be maximized through a third-party transaction."

The Pennsylvania gaming market is a very strong one, with new revenue records being set almost on a monthly basis, and the providers in this space are very much in an ongoing dogfight for customers. Among the most popular gaming options in the region is Golden Hearts Games, which is one of the leading sweepstakes brands in the region.

Clearly, in a dog-eat-dog market such as this, some providers and groups will fall by the wayside. Anden went into more detail as to the reasons for Kindred Group's move, with moves to reduce the company's staff significantly in 2024,

"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."

Unibet has operated in Pennsylvania for quite some time, and their recent revenue in the state has been fairly high. Indeed, Mohegan Pennsylvania, which partners with Unibet, is set to become the sixth licensee in the state to hit the $150 million lifetime revenue milestone.

Unibet has secured around $2 million in monthly profits and is therefore expected to push through this barrier by January, and the brand has debuted a number of new slot titles in recent months.

The company's Head of Acquisition for North America, Ben Heiser, opened up on these efforts, stating,

"With our Black Friday, Deals-Giving promotions, we wanted to create differentiated offers that would appeal to experienced casino players. For players who love slot titles that feature big wins and payouts, our 'Deposit $50, Get $100' is the perfect offer because it only applies to our most popular, high volatility titles. If you're a player who's serious about playing blackjack, our 'Wager $1,000, Get $100' offer provides the right amount of challenge to prove their skill [playing through $1,000] and an equally serious reward of $100 cash with no wagering requirements. Overall, we hope the message is clear: If you're a serious casino player, there's no better casino to play at than Unibet."

So clearly, Unibet intends on going out on a high as and when they do finally leave the region.