8/31/2023 0 Comments Relax gaming kindredThe company, which employs about 1,600 people, is a member of the European Gaming and Betting Association (EGBA) and founding member of IBIA (International Betting Integrity Association). It is audited and certified by eCOGRA for compliance with the 2014 EU Recommendation on Consumer Protection and Responsible Gambling (2014/478/EU).įor offerings from other players, have a look at King Johnnie Casino Online Led by Henrik Tjärnström, CEO, Kindred Group is an online gambling company which operates 9 brands and doing business across Europe, Australia and USA. 93 percent after the completion of the transaction and the exercise of the options. 6 percent of total fully diluted shares in it as Kindred’s ownership in Relax Gaming will be approx. Kindred plans to keep Relax Gaming as an independent entity within the Group with a separate Board of Directors and management team as wel as to continue to invest in the company to strengthen its position as a B2B iGaming supplier, enhancing its product offering and broadening the B2B customer base.Īll existing employee share option programs in Relax Gaming will be exercised, and the company’s management will retain an ownership of approx. The deal is expected to generate annual run-rate synergies of €8m within the next three years for the Kindred group driven by lower investment needs and reduced cost of sales. The company currently supplies poker and bingo content on an exclusive basis to Kindred along with casino content. In the last twelve months leading up to May 2021, Relax Gaming generated revenues of approximately €25m with an EBITDA of approximately €10m. 240 full-time employees with four main offices in Malta, Estonia, Sweden and Serbia. Thanks to the acquisition, Kindred, which has been invested in Relax Gaming since 2013, plans to increase its focus on product and customer experience.įounded in 2010, Relax Gaming is a B2B iGaming software supplier that designs and develops online casino games, supported by an open distribution platform for third party aggregation as well as proprietary poker and bingo products. The transaction, whose close is conditional to customary regulatory approvals and is expected to be completed in the fourth quarter of 2021, values Kindred at up to €320m on a cash and debt free basis (Enterprise value). Nasdaq Stockholm Large Cap listed online gambling operator Kindred Group is to acquire the remaining 66.6 percent outstanding shares in Maltese B2B iGaming supplier Relax Gaming.
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