Unibet owner Kindred Group PLC has announced that it will immediately cease operations in the Netherlands on a temporary basis as a result of the new Dutch online gambling regulations that come into effect from today October 1st, 2021.
In a press release issued through the company’s website, Henrik Tjärnström, CEO Kindred Group said:
“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.
We have always put a safe gambling environment at the very core of our strategy and operations, and already now comply as much as possible with all Dutch license requirements. We remain fully dedicated to consumer protection, preventing addiction and combatting fraud and crime. An important part of this is our ambition to reach zero per cent revenue from harmful gambling by 2023”
The statement goes on to explain that the operator is preparing to apply for a Dutch operating license by undergoing several audits. As the company made its move to withdraw from the market prior to the October 1st deadline, it will now apply for its license at some point in Q4 2021 although it’s not clear how long the license approval process will take.
The group runs the highly successful Kindred Affiliates Program that gives marketers access to its 10 online betting and gaming brands generating significant revenue for the company each month. However, as a result of its decision to temporarily cease Dutch operations, the group expects a negative impact on Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) of around €12 million per month.