Kindred Announces Major Shifts in Shareholding

Kindred Group, one of the world’s leading iGaming operators with business across several continents, has announced changes in the stakes held by two of its most prominent shareholders. In three consecutive updates, the company announced that The Goldman Sachs Group and JPMorgan Chase & Co have modified their respective shares in the company.

Both companies now hold stakes of over 5%.

On May 21, the company received three notifications of major holding from the former group. The Wilmington-based investor, according to Kindred, increased its stake in the company two times before opting to reduce it.

Before the changes, The Goldman Sachs Group held a 0.22% stake in Kindred. The group used to boast a significant 7.99% stake in the gambling group, which it offloaded earlier this year. After the first increase, the group pumped its stake up back to 5.64%.

Then, on May 17, The Goldman Sachs Group increased its shareholding to 6.04%. However, the investor group opted to decrease its stake and voting rights to 5.12% within the same day.

In the meantime, Kindred received another notification of major holding on May 22, this time from JPMorgan Chase & Co. Also based in Wilmington, Delaware, the investor has opted to modify its significant stake in Kindred.

JPMorgan Chase & Co, which used to hold a stake of 4.82% in Kindred in April, had increased its shareholding and voting rights to 5.07% on May 17. Then, on May 20, the investor decreased its shareholding and rights back to 5.02%.

Kindred Explores Options to Expand Sustainably

In other news, Kindred recently established a new Tech Hub in Bengaluru, India. The company described the area as the Silicon Valley of India and announced its intentions to tap into the city’s rich pool of tech experts.

The new hub will complement the company’s business in other regions, underpinning its growth in Australia and Europe.

A month ago, Kindred published its latest Journey Towards Zero report, outlining its intense efforts to minimize gambling harm and operate sustainably. Unfortunately, the company reported a slight increase in revenue from high-risk players to 3.2%.