Unibet Group to be renamed Kindred Group

Unibet Group has revealed plans to rename the company Kindred Group as part of the Stockholm-listed firm’s strategy to reflect the multi-brand nature of the business.

The proposed name change is still subject to approval by the operator’s owners and the decision would only affect the holding company name, as opposed to its consumer-facing brands.

The operator currently has 10 B2C brands, including Unibet and Stan James, which will all maintain their brand name and identity within the Group should the move be approved during a shareholder meeting on 6 December.

The Kindred Group name was chosen following an “extensive analysis” of Unibet’s current brand identity and will be followed by a revised graphic identity.

“This is why we now propose to change the name of our group company, thereby avoiding confusion and creating better conditions for our future growth,” Anders Ström, chairman of the board of directors of Unibet Group, said.

According to the operator, the new company name will also enable it to utilise the full potential of its consumer-facing brands by providing greater clarity to the business.

Henrik Tjärnström (pictured), CEO of Unibet, added: “Introducing a group name separate from our consumer facing brands will provide us with the necessary strategic flexibility to ensure we remain at the very forefront of our industry.

“As a group we have played an important part in driving the industry forward, and we intend to continue to do so in the future,” he continued.

Unibet Group’s current B2C brands include Unibet, Stan James, Maria, Bingo.com and iGame.

In July the operator reported a 57% year-on-year rise in Q2 revenues following a successful Euro 2016 tournament and strong growth from the operator’s mobile business.

The firm recorded gross winnings revenue (GWR) of £126.6m during the quarter, up from £80.5m compared to the same period last year, while underlying EBITDA increased from £19m to £22m.