Kindred Group Plc Reports Frustrating Quarterly Trading Period, Blames ‘KOA’ Remote Gambling Act
The Kindred Group blames short-term Euro market headwinds for its poor showing in the most recent quarter of 2022.
Publishing its H1 2022 interim trading results, the firm registered a 32% drop in year-to-date corporate revenues (B2C+B2B) to £485m (H12021: £716m).
The company sites the ‘KOA’ Remote Gambling Act for leaving the Dutch betting market, whereby only ten licensees can operate legally in the Netherlands.
KSA Chairman René Jansen said of the long delayed regulations: “The Gaming Authority’s mission is to ‘play safe’, consumers who want to participate in games of chance must be able to do so in a safe environment.”
“The consumer must be assured of fair play. And the provider must pay sufficient attention to the prevention of gambling addiction. Today, with the opening of the legal market for online games of chance, an important step has been taken.
“Recent years have shown that simply banning online gambling was no longer possible. With legalisation and regulation it is better possible to protect consuers against abuses."
Losing the Dutch market would be equivalent to exiting the New York State betting market, which includes New York City. Or it would be like losing the cherished New Jersey and Michigan betting markets combined.
United Auto Workers Treasurer Sentenced for Embezzlement to Support Gambling Habit
A Michigan man has been charged with embezzling $2.1 million from the United Auto Workers, much of went towards fueling his gambling addiction.
Timothy Edmunds served as secretary-treasurer of UAW Local 412, which represents about 2,600 people employed by what was once Fiat Chrysler and is now Stellantis. He was sentenced Tuesday to nearly five years prison.
“Mr. Edmunds betrayed his union brothers and sisters by stealing their dues money to satisfy his own greed,” U.S. Attorney Dawn Ison said.
Some of the money was spent on guns and child support.
- Aaron Goldstein, Gambling911.com
