Kindred Group is among the most popular gaming companies in the United States, and it has many assets. It recently linked Unibet online casino in New Jersey to a new technology platform that will help the gaming property broaden its clientele.
The company made a press release on Tuesday showing that its new platform is fully running the Unibet casino in Pennsylvania and New Jersey. It shifted its New Jersey gaming venue to the platform in April.
Kindred Group's Unibet brand provides online sports gambling in New Jersey, Pennsylvania, Virginia, Indiana, and Arizona. Even so, Indiana, Virginia, and Arizona prohibit real-money online casinos.
Nils Anden, Kindred's Interim CEO, stated in the press release that the company wants to shift its sports gambling applications in Indiana, Arizona, and Virginia to its new tech platform. But he didn't give a fixed deadline for the migration.
Anden added that New Jersey players have experienced better design, stability, and navigation since the state's app started running on the tech platform. Kindred initially concentrated on improving players' security and offering them a personalized experience.
Even so, it is uncertain if Pennsylvania gamblers will get similar experiences soon. But, Kindred's maximum utilization of its tech platform is timely.
Will the Tech Platform Last for Long?
Kindred disclosed that it kept Morgan Stanley and will review it despite shifting its New Jersey casino to its new tech platform. It said that at that time, it didn't have other options to offer its shareholders more value.
Nasdaq Stockholm has Kindred's shares, and the gaming company stated it lacks a particular deadline to make the review. Some of its current options include selling some of its operations or all of them.
Reports state that Kindred can sell its assets individually, including its new tech platform, which operates in Pennsylvania and New Jersey. But, its executives are likely to sell the whole company.
The tech platform's value will increase if its Pennsylvania operations succeed. Still, they will increase the value of its operations countrywide.
Unibet has active gaming licenses in Pennsylvania and New Jersey, two of the country's leading iGaming markets. But it might venture into Michigan's market in the future.
Morgan Stanley may urge the company to keep all assets. If this happens, the tech platform will increase the revenue it earns from its Pennsylvania gaming property.
How Is Unibet Performing in Pennsylvania?
Pennsylvania has the largest casino gaming market in the country. The Pennsylvania Gaming Control Board (PGCB) reported that in the last four months, the state's gaming revenue has increased significantly and exceeded the country's monthly casino revenue.
Unibet collaborated with Mohegan Sun Pocono to get a gaming license in Pennsylvania. The PGCB reported that the casino had the second lowest revenue in the state among nine legal casinos.
It made $2,900,000, which was equal to 1.7 percent of the state's total revenue. The casino needs to promote its brand and improve its customer experience.
