UniBet Sportsbook No Longer in Iowa, Kindred Group Turns Focus on Multiproduct States
Unibet will be leaving the state of Iowa.
During an earnings call last Thursday, Kindred Group CEO Henrik Tjärnström announced they would no longer be operating in the Hawkeye State.
"We have reviewed the state footprint in line with our strategy to focus more on multiproduct states and have decided to exit Iowa now in the fourth quarter of 2022,” Tjärnström said.
Unibet currently operates in Arizona, Indiana, New Jersey, Pennsylvania and Virginia. Kindred, the Malta-based gaming company, also has operations set up all around the world.
Unibet leaving does not appear to be the first sign of Kindred pulling out of the U.S. market as they have already announced plans to partner with the Swinomish Tribe in Washington state and launch a retail sportsbook early 2023.
Unibet had been struggling in Iowa according to various reports. Ryan Butler of iGaming Next reported that Unibet finished 17th of 18 operators in total handle during September 2022.
According to casino.org, UniBet reported $516,136 of handle and $34,660 of revenue during September 2021. One year later, those numbers were down to $165,961 of handle and $16,331 of revenue. That is a 68% decline.
During the earnings call, Tjärnström referenced multiple times plans to focus on "multiproduct states," which is referring to states that have both iCasino and sports betting.
Pennsylvania, New Jersey, Michigan, West Virginia and Nevada are currently the only states that have legal online casino and sports betting. Indiana is expected to take steps towards iCasino in the near future. Connecticut has legalized online gambling but only has retail sports betting available at this time.