On Friday, Stefan Lundborg announced his resignation from the Kindred Group. He will no longer serve as the non-executive director. The decision is related to an investigation of Lundborg and his alleged involvement with insider crime. He is currently being investigated by the Swedish Economic Crime Authority.
No Details Given
The announcement was made of the resignation at the end of last week and no further details were given. The Kindred Group announced it was cooperating with the investigation. They have been working with the Economic Crime Authority as well as the Public Prosecutor.
In a statement, Chairman of the Board, Anders Ström said that the resignation of Lundborg was unavoidable due to the investigation. The Board pointed out that there are no remaining representatives of the company that are under suspicion or are being investigated.
The Kindred Group stated further that information will be provided to the public when required. No more comments will be made on the matter at this time as the investigation continues.
Could Partnership Deals in the US Be Affected?
The Kindred Group signed a deal with Caesars Entertainment in early 2020, for a ten-year period. This deal would see the operator offer sports betting services initially in Iowa and Indiana as well as the potential to launch services in other states in the future.
Sports betting launched via Kindred with its Unibet brand in Indiana back in August. A new deal was signed with Penn National Gaming back in September for Ohio and Illinois services.
Given this new investigation of the former non-executive director, will these relationships be in danger? Only time will tell as details of what exactly took place is revealed.