Kindred partners Caesars for market access in Indiana and Iowa

Stockholm-listed Kindred Group has entered into an agreement with US casino operator Caesars Entertainment to secure access to Indiana and Iowa's online sports betting markets.

The ten-year agreements see Kindred’s Unibet brand partner with Caesars’ Horseshoe Hammond property in Indiana and Harrah’s Council Bluffs Hotel & Casino in Iowa.

The deal will allow Kindred to expand its online sports betting offering to four states, with the Unibet brand already live in New Jersey and Pennsylvania, and also includes the potential to add more states in future.

“We are thrilled to further extend our presence in the US together with one of the world’s most renowned and diversified casino-entertainment providers,” said Kindred US senior vice president Manuel Stan. “Caesars’ geographical spread in the US gives us a unique opportunity to build our footprint, with Indiana and Iowa next in line and potential other states lined up.

“We also share Caesars’ vision to offer customers an unforgettable experience where every guest is treated like a Caesar.”

Caesars Entertainment executive vice president Christian Stuart commented: “As Caesars Entertainment continues to gain state approval for legalised sports betting in the US, we look forward to adding Kindred to our list of sports betting partners in certain states. Caesars can continue to operate its own sports betting offering under the Caesars Sports brand in these states.”

In related news, Kindred has extended its partnership with platform provider Pala Interactive following its successful launch in Pennsylvania last November.

The new multi-year license agreement will see Pala provide its platform to the operator in Indiana and Iowa, including its player account management system, sports betting content from Kambi, as well as a full suite of marketing technology and online casino products as and when regulations allow.

“It has been a pleasure to launch the Kindred Group in Pennsylvania,” said Pala Interactive chief executive Jim Ryan. “We are incredibly proud that such an innovative company has trusted our flexible and capable gaming platform to grow their business in Indiana and Iowa.”

Kindred’s Stan added: “Kindred is delighted with the successful implementation of Pala's online gaming platform in Pennsylvania and Pala Interactive was the obvious choice when we decided to enter new US states.”

Shares in Kindred Group plc (STO:KIND) were trading up 3.97 per cent at SEK55.00 per share in Stockholm Wednesday morning, while shares in Caesars Entertainment Corporation (NSQ:CZR) closed up 0.99 per cent at $14.26 in New York Tuesday.