The board of directors of the Swedish online gambling giant Unibet has introduced a proposal on a name change for the company from ‘Unibet Group’ to ‘Kindred Group PLC’.
In a statement issued from Unibet, this decision came about due to their portfolio having 10 consumer-facing brands. This would allow them to “draw the full potential of these brands with a group name that differs from the consumer brand”.
The name change will also include a revised graphic identity that will be able to handle different brands over various markets. These changes are not expected to have any impact on its consumer brand and their operation and this will form a key part of their growth strategy going forward.
The board believes that the use of the word ‘Kindred’ is a better representation of its values and it will also provide support between the different factions and divisions that the company consists of. As Unibet is only one of the company’s ten brands, the name has become too singular at present, an umbrella name is needed to encompass them all. Some of the other brands that the group also owns are iGame, Bingo.com, Stan James and Maria Casino and this is why the group worries these other brands are losing their identity having the company called Unibet.
The Extraordinary General Meeting of the Unibet Group’s owners and shareholders is set to take place early in December in Stockholm and the proposed name change will be subject to approval then where a vote will be taken. If successful and the majority opts to change the name, the company will start trading under Kindred PLC by mid-December.
Unibet chairman of the board Anders Ström said: “In this rapidly changing industry, clarity is essential; 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.
“This is a minor and predominantly internal change as all the customer facing brands, such as Unibet, MariaCasino, Bingo.com, Stan James and iGame will remain the same. The change only relates to the group name.”
Chief executive of Unibet Henrik Tjärnström 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.”