The board of directors of Unibet are considering a name change of their holding company Unibet Group plc to Kindred Group plc, as a strategic move to improve branding.
The board explained that Unibet now has a portfolio of ten consumer-facing brands and believes that a new name will allow the group to “draw the full potential of these brands with a group name that differs from the consumer brand.”
According to the company, the name change would become an integral part of its growth strategy moving forward. While it would not impact its consumer brand operation, it would result in a revised graphic identity that could be used for a range of brands over multiple markets.
“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,” explained Anders Ström, chairman of the Unibet board.
“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.”
An Extraordinary General Meeting will be held on December 6 in Stockholm, Sweden to approve the proposed change. If the proposal is approved, the company plans to begin trading on Nasdaq Stockholm under the Kindred Group from December 12, 2016.
“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,” added Henrik Tjärnström, chief executive of Unibet.
“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.”