Apr 24, 2024 3 min read

Despite Pennsylvania’s record-breaking gambling revenue figures, news that the Kindred Group’s decision to pull Unibet from the market has been met with disappointment.

The decision will result in Pennsylvania offering 20 online casino options to consumers and will see 300 job losses.

The competitive nature of Pennyvania’s online betting market has seen Unibet struggle to get a foothold against rivals that offer some of the most popular titles in the world. Betting expert Vlad Grindu explains that the wide variety of online casinos makes it easy for consumers to pick and choose the best bonuses.

Unibet’s decision to leave the North American market comes after their online casino and sportsbook failed to move out of the bottom three performers, despite a new platform launch.

The new platform offered a greater level of security for users and made it easier for them to obtain analytics to facilitate personalized marketing strategies.

The decision to move operations and shed 300 jobs will save the Kindred Group around $40 million, allowing them to focus on other aspects of their operations in Nordic and European countries.

The loss of Unibet will not have a huge impact on Pennsylvania, with no applications for new operators at present. However, the state does not limit gambling operators and businesses like Hard Rock could see it as the ideal location for new operations.

News that the state has enjoyed a 2.7% year-on-year gambling revenue increase will make it a worthwhile option for those looking to enter the market.

The sports betting market saw record-breaking growth of 77.9%, including $66 million of online revenue. Online slots in Pennsylvania are another big earner, accounting for £110 million in revenue for 2023, and have shown growth of 22% for the year.

Pennsylvania has already welcomed Fanatics Betting and Gaming and Betr to the market, with consumers having a great choice.

Unibet will officially exit the market on June 21st, with existing customers being advised to withdraw any funds from their accounts before this date. Funds left in accounts will be sent to the addresses held on file for customers by cheque.

Their sports betting operations will stop accepting bets from May 20th, while their customer service team will remain in action for a year after their closure to assist with any ongoing issues.

The exit of Unibet is unlikely to affect revenue growth in Pennsylvania, with customers expected to move to other operators. As one of the worst-performing operators, this could prove to be an opportunity for their closest rivals to capitalize.