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Unibet, a Kindred Group-owned sportsbook based in Malta, is poised to open new offices in Pennsylvania, one of the country’s largest legal sports betting markets. As it expands its presence across the country, the business is revamping its own sports betting software in the Keystone State.
Unibet’s online betting services in Pennsylvania conducted routine maintenance on July 10 to allow the expansion. The changes include stronger security measures, improved analytics, and increased user freedom. These enhancements were supposed to launch in the second quarter of 2023, but they were pushed back.
Unibet’s leadership is being restructured in the midst of operational advancements. Kindred Group advanced its planning for a possible sale in May and requested bids from potential buyers. In response to the upcoming changes, CEO Henrik Tjärnström stepped down, while CFO Johan Wilsby resigned. Despite these structural changes, Kindred Group continues to drive profitability, with $381.8 million in sales recorded in Q1 2023, a 24% year-over-year gain. Unibet sees huge prospects in Pennsylvania’s sports betting sector.
In May, Pennsylvania reported a total sports betting handle of $495.5 million, a 13% reduction from the previous month’s handle of $572.1 million. Despite this, online and retail operators in the state generated $41.1 million in revenue (after promotional deductions), representing a 17% year-over-year increase.
Unibet has previously established market experience in the United States. The New Jersey Division of Gaming Enforcement granted the company final approval to start its proprietary platform in the state in April. Unibet entered the US market in 2019 by offering online sports betting in New Jersey, as well as securing its first sponsorship arrangement in the US through a multiyear agreement with the New Jersey Devils.