Kindred Group opened its Unibet online sportsbook to Virginia residents on Wednesday, becoming the seventh sportsbook now available in the commonwealth. Unibet was approved for a temporary mobile sports betting permit by the Virginia Lottery on April 21.
"We are very grateful to the Virginia Lottery for awarding us one of the seven stand-alone mobile sports betting permits in a very competitive process,” Manuel Stan, senior vice president/U.S. for Kindred Group, said in a news release announcing the approval. "We look forward to opening an office in Virginia, which will function as our third hub together with our offices in New York and New Jersey.”
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Virginia sports betting launched in the U.S. market in January and the mobile-only market is expected to reach more than $370 million in annual revenues at maturity in the state, according to Unibet.
Unibet joins the Virginia sportsbook market alongside FanDuel, DraftKings, BetMGM, BetRivers, William Hill and WynnBET. FanDuel was the first to launch in January. In February, its first full month live, Virginia posted $265.8 million in total handle.
In March, the Virginia Lottery approved temporary sports wagering permits for Bally's, Golden Nugget and Penn National Gaming. No official word or launch dates have been announced for these sportsbooks.
After its plans to build a $650-million casino in Richmond were dropped from consideration by the city's evaluation panel this month, Bally's said it was looking forward to providing an online sports betting platform to bettors under the recently awarded temporary sports wagering permit.
In May, Virginia Lottery gaming regulators will begin taking applications for the remaining outstanding sports betting licenses.
Kindred’s US Expansion
Kindred Group's entry into Virginia follows the company's successful launches into New Jersey, Pennsylvania and Indiana. Kindred also secured further market access by signing agreements with Penn National Gaming, which will give access to Ohio and Illinois.
“We continue our journey in what we believe will become the largest gambling market in the world,” Stan said.
Kindred Group said it will continue to invest in growing its U.S. operations where market conditions support a sustainable business model.