SBC News Voice of the Sports Betting Industry
In an interview with the Racing Post, Henrik Tjärnström Chief Executive of Stockholm-listed Kindred Group Plc has revealed that his firm will shut down UK brand Stan James, in order to concentrate its UK market activity through group flagship brand Unibet.
Kindred Group expects to carry out a full migration of Stan James customers onto Unibet’s sports betting platform within the coming months. Furthermore, Unibet will take over all Stan James related marketing and sponsorship activities/partnerships.
Seeking to boost its UK market presence, Kindred Group acquired UK betting firm Stan James Group’s online sportsbook division in October 2015 for £19 million. Acquiring the asset, Unibet detailed that it would maintain the Stan James brand for a ‘transitional period’.
For Kindred’s Q1 2017 corporate update, Tjärnström detailed to investors that his firm would target aggressive expansion within the saturated UK online gambling market having completed its acquisition of 32 Red Plc for £175 million (deal announced February 2017).
Detailing his firm’s UK ambitions to the Racing Post, Tjärnström indicated that Unibet planned on becoming a top betting destination UK horseracing punters. Unibet will now takeover Stan James racing sponsorships including The Champion Hurdle at Cheltenham Festival 2018.
“We feel that, unlike any other territory, the UK has a cultural connection to racing, and to betting on racing. As the UK is a key market in our long-term strategy we feel it’s important to support and to be seen sponsoring some of the biggest races in the UK and Ireland.”
Last August Kindred marketing announced that London marketing agency Initiative UK had become its media planning and buying lead, as the group prepares for a fresh round of marketing campaigns to support its UK growth strategy.
