Kindred partners Quechan Tribe to enter Arizona and California gaming markets9th February 2021 8:55 am GMT
Kindred Group has agreed a ten-year partnership with the Quechan Tribe of the Fort Yuma Indian Reservation to gain access to Arizona and California’s future regulated iGaming and sports betting markets.
The Fort Yuma Indian Reservation straddles the Colorado River in Arizona and California and hosts two casinos, the Quechan Casino Resort and Paradise Casino.
The ten-year partnership includes an option to extend and covers retail and online sports betting and iGaming, giving Kindred access to the Arizona and California markets, subject to enabling legislation in each state.
“Going west is truly exciting and the partnership with Quechan Tribe of the Fort Yuma Indian Reservation will grant Kindred access to two key states in the US market,” said Kindred Group US vice president Manuel Stan.
“California is likely to become one of the largest markets in the world, with yearly revenues expected to pass $2bn, while Arizona is expected to reach $200m yearly sports betting revenues at maturity. Securing early access to these two key states puts us in a great position to prepare a successful launch together with a great partner with a strong local presence.”
The agreement adds to Kindred’s existing operations in New Jersey, Pennsylvania and Indiana under its Unibet brand, and its market access deals in seven additional states where it is yet to go live.
Jordan Joaquin, president of the Fort Yuma Quechan Indian Tribe, said: “The Quechan Indian Tribe of Arizona and California is excited to be partnered with the Kindred Group, a world leading online sports book and gambling company, which will bring an exciting new form of gambling to the public and revenue for our tribal members.”
Arizona is expected to be the first of the two states to regulate, with a bill introduced late last week with the support of Governor Doug Ducey.
Shares in Kindred Group plc. (STO:KIND-SDB) were trading 1.96 per cent lower at SEK110.20 per share in Stockholm Tuesday morning, having set a new 52-week high of SEK113.85 per share earlier in the day.