Takeover Bid
The industry-leading online gaming company Kindred Group, owner of brands like Unibet and 32Red, has confirmed that it has received a takeover bid from French company La Francaise des Jeux (FDJ).
The company confirmed the information over the weekend, stating that it would be announced officially on Monday, January 22nd, ahead of the market opening. The news was broken by the Wall Street Journal, with the respected American publication stating the Kindred Group could be worth around $2.5 billion.
The bid is said to be around this price, with the Kindred Group’s board of directors unanimously recommending that the offer be accepted. The bid follows what was a difficult year for the Kindred Group in 2023, with several high-profile names leaving the company and a strategic review being launched at one point.
Two Established Powers
Kindred Group is a major player in the industry, operating eleven successful casino and sports betting brands. Chief among these are Unibet and 32Red, both of which have a major presence in the UK market.
The company is not limited to the UK, though, with brands like Kolikkopelit and Maria Casino being extremely popular in the Nordic countries and other operators succeeding across Europe.
FDJ is one of the biggest gambling companies in Europe. It is arguably the most prominent and France and also operates one of Europe’s biggest lotteries. The company also acquired Premier Lotteries Ireland in November as it continues to establish itself as one of the biggest providers in Europe.
A European Super Operator
Stephane Pallez, the Chief Executive and Chairwoman of FDJ said that the deal would help to diversify the company’s products. She added that the FDJ and Kindred Group’s portfolios would complement one another, and that they would be delighted to welcome Kindred’s management team on board.
Nils Anden, the Chief Executive of Kindred Group, said that the deal would help create a leading European gaming operator capable of expanding globally.
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