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Kindred Group completes the acquisition of Relax Gaming

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Kindred Group has on 1 October 2021 completed the previously announced acquisition of the remaining outstanding shares in Relax Gaming, a leading and rapidly growing B2B iGaming supplier.

Kindred Group announced on 2 July 2021 that it had entered into an agreement to acquire the remaining 66.6 per cent of the outstanding shares in Relax Gaming. Relax Gaming is a market leading 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. Relax Gaming was founded in 2010 and has today c. 240 full-time employees with four main hubs in Malta, Estonia, Sweden and Serbia. Kindred has been invested in Relax Gaming since 2013 and was prior to the transaction the largest owner with 33.4 per cent of the outstanding shares.

The acquisition accelerates Kindred’s strategy to increase its focus on product and customer experience by strengthening Kindred’s product control and product differentiation capabilities. The acquisition is expected to generate annual run-rate synergies of EUR 8 million within the next three years for the Group, driven especially by lower investment needs and reduced cost of sales. In order to secure continued integrity of Relax Gaming’s B2B customers, Kindred’s intention is to keep Relax Gaming as an independent entity within the Group with a separate management team and Board of Directors. Patrik Österåker, the co-founder of Relax Gaming, will remain as the Chairman of the Board. Kindred’s ambition is to continue to invest in Relax Gaming to cement its position as a leading B2B iGaming supplier by further strengthening Relax Gaming’s product offering and by broadening their B2B customer base.

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In conjunction with the completion of the transaction, all existing employee share option programmes in Relax Gaming have been exercised, and Relax Gaming’s management, who is committed to the future success of the company, retains an ownership of seven per cent of the total fully diluted shares in the company. Kindred’s ownership in Relax Gaming after the transaction is 93 per cent of the total fully diluted shares.

The transaction values the Relax Gaming at up to EUR 320 million on a cash and debt free basis (Enterprise value) and a total value of the outstanding shares of approximately EUR 295 million (Equity value). The initial consideration for the remaining outstanding share of approximately EUR 80 million (on a cash and debt free basis) has been settled in cash. In addition to the initial consideration, the maximum earn-out payments amount to EUR 113 million and may become payable in 2022 and 2023, subject to Relax Gaming achieving certain earnings thresholds.

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Gambling in the USA

Gaming Americas Weekly Roundup – April 7-13

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Welcome to our weekly roundup of American gambling news again! Here, we are going through the weekly highlights of the American gambling industry which include the latest news and new partnerships. Read on and get updated.

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WyoLotto’s COO, Robin Medina, has been named to join a national committee to support problem gambling initiatives. The committee is through the National Council on Problem Gambling and will manage the annual selection of nominations and election of the Board of Directors that oversees NCPG. Last year WyoLotto applied for and was accepted to the NCPG and NASPL’s (North American State and Provincial Lotteries) Responsible Gambling Verification Programme. WyoLotto’s Responsible Gambling Programme includes an in depth plan to ensure the organisation honours its commitment to educating players, retailers and the general public about how to gamble responsibly and what to do if gambling becomes a problem for yourself or someone you know.

As Hard Rock Hotel & Casino Tejon moves closer to its highly anticipated grand opening, the company is engaging with the Kern County community through exclusive informational sessions at Bakersfield College’s Renegade Event Room located at 1801 Panorama Drive. The first session, held on April 4, provided local leaders and invited guests with insights into upcoming job and vendor opportunities in the region. The second session took place on April 5 from 10:00 AM to 12:30 PM. Job opportunities for Hard Rock Hotel & Casino Tejon will be posted on the recruitment site, www.gotoworkhappy.com, starting in May.

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An investigation by the Delaware Division of Gaming Enforcement (DGE) into VGW Luckyland – a subsidiary of the Australian-based VGW Holdings – revealed that VGW Luckyland was operating illegal online gaming. Delaware officials concluded that VGW misrepresented its services as a promotional sweepstakes while enabling players to purchase coins for casino-style games, leading to potential cash winnings. These types of real-money games offered to Delaware residents by an unlicensed entity violate the Delaware Constitution, the Delaware Penal Code and the Delaware Gaming Competitiveness Act of 2012. With the support of the Delaware State Lottery, DGE issued a cease-and-desist order to VGW.

Partnerships

AC Milan announced a new partnership with Reals, a company renowned for its excellence in Brazil’s sports betting and online gaming market, which will become Official Regional Betting Partner of the Rossoneri’s Club in Latin America. Elected in 2024 as the “Best Sportsbook Operator” in Brazil by SiGMA World – the largest international authority in iGaming – Reals has been consolidating its position in the sector, reinforcing its growing trajectory of ascent. The brand is aligned with the best market practices, presenting sustainable growth based on innovation, strategic partnerships and sports engagement.

Scientific Games’ SciQ retail technology is set to roll out at North Carolina Education Lottery retailers as part of the Lottery’s focus on improving the retail environment for its Scratch-Off games. The company will deploy 1000 SciQ units at lottery retailers across North Carolina. NCEL Scratch-Off games represented more than $2.9 billion in retail sales in fiscal year 2024, anchoring NCEL among the world’s top 15 performing instant game lotteries (La Fleur’s 2024 World Almanac). Offering real-time scratch game inventory management data that amplifies the power of Scientific Games’ SciTrak predictive ordering system used by NCEL, SciQ creates supply chain efficiencies proven to lift scratch game sales.

The post Gaming Americas Weekly Roundup – April 7-13 appeared first on European Gaming Industry News.

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Compliance Updates

Navigating Legal Frontiers: Nordic Legal’s Vision for the Finnish Gambling Market

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The Prague Gaming & TECH Summit 2025 brought together top experts across the iGaming and tech landscape, and Nordic Legal stood out as the event’s Scandinavian Legal Expertise Sponsor. A renowned legal advisory firm in the Nordic region, Nordic Legal continues to shape the future of gambling legislation and compliance in Europe.

In this post-event interview, we caught up with Pekka Ilmivalta, Head of the Finnish Office at Nordic Legal, to dive deeper into the firm’s insights on the upcoming Finnish gambling reform, the legal challenges it poses, and the opportunities it presents for operators preparing to enter the market.

 

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Finland is preparing to launch its regulated gambling sector in January 2026. As an expert with over 20 years of experience in the gambling industry, how do you view its draft legislation and the current state of the Finnish gambling market? 

Finns are used to gambling online, and the size of the market is close to 2 billion euros in GGR. As the market share of the national monopoly operator, Veikkaus, has declined to around 50 percent, nearly half of the gambling spending already takes place outside the Finnish regulation. Therefore, the gambling legislation reform is really needed.

The Government Proposal now being dealt with in the Finnish Parliament is generally a comprehensive and a good package. As the political parties are quite unanimous about the need for the reform, I expect the parliamentary discussion to concentrate on the balance between responsibility measures and the features making the market interesting enough for the operators to enter the regulated market. Especially marketing, use of affiliates and bonusing will, and should, be discussed.

I believe that the Parliament will approve the new legislation early next autumn and that the B2C license application process will be able to begin already in January next year.

 

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The Finnish legislative review council has raised concerns about potential increases in gambling harms under the new regulatory framework. What measures do you believe are necessary to mitigate these risks, and how could Finland balance market liberalization with responsible gambling practices?

Personally, I think that gambling harms must be taken seriously. However, as almost half of the Finnish gambling now happens outside the regulated market, I am convinced that succeeding in channelization is a crucial starting point to really mitigate gambling harms. Therefore, attractiveness of the market and measures against the black market are extremely important. Furthermore, self-exclusion and responsible gambling tools are, of course, needed for the players. Generally, I believe that AI assisted monitoring could and will have an important role in preventing harmful gambling in the future. To really work, responsible gambling tools need to be both pragmatic and relevant for each individual player.

 

Considering Finland’s upcoming gambling reform, what legal and operational challenges should gambling operators be prepared for, particularly regarding compliance and player protection? Which key trends do you see shaping the market’s future?

As it seems now that affiliates and welcome bonuses will be banned, operators will have to find other means to build their brand and acquire customers. Even though traditional marketing and sponsoring are widely acceptable, I would expect to see innovative solutions to stand out from the probable marketing avalanche during the first months after the market opening. Perhaps new kinds of sponsorships or retail activities? Or even enhanced player protection measures to gain a competitive edge?

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Overall, I would advise operators to start their market entry preparations early enough. The licensing procedure could take several (6 to 9) months. Also, adjusting to the local technical and player protection requirements might not happen overnight.

 

What insights could help Finland create a balanced and effective gambling market?

I believe that the new legislation will provide a good enough framework for a functional gambling market. However, based on experiences from Sweden and Denmark, I would point out two practical aspects crucial to making the new legislation effective: First, there needs to be collaboration between licensed operators and the new regulator. Dialogue and a mutual will to find solutions should be the common mindset. Secondly, the regulator hopefully has enough resources (tools, persons and persistence) to interfere with the black-market operations, which will evidently still exist also after the reform.

 

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Nordic Legal has extensive experience advising European governments on regulatory best practices. How can your firm assist operators looking to enter the Finnish market and navigate the evolving legal landscape?

With our deep knowledge of Finnish legislation, extensive experience from regulatory developments in other jurisdictions, and strong industry relationships, we are well-positioned to support operators and B2B suppliers entering the Finnish market. We can offer comprehensive guidance not only on compliance and licensing, but also on navigating strategic challenges, ensuring our clients are well-prepared for a dynamic and shifting legal landscape. Our proactive approach enables us to identify regulatory changes early and help clients stay ahead of industry developments.

 

The post Navigating Legal Frontiers: Nordic Legal’s Vision for the Finnish Gambling Market appeared first on European Gaming Industry News.

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The Power of Influencers in iGaming – Insights from the EEGS Webinar

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In an increasingly digital world, the influence of social media personalities is undeniable, especially within the iGaming industry. To stay competitive and engage with a broader audience, brands must adapt to the growing power of influencers. Recently, the dynamic EEGS Webinar, “The Rising Power of Influencers in iGaming: Use Their Power for Your Success,” brought together key experts to explore how influencers can elevate iGaming brands to new heights. Expert speakers Jekaterina Dubnicka, Alexandra Voronetskaya, and Wojciech Trzaska shared their valuable insights on the nuances of influencer marketing, and how companies can leverage this to succeed.

The Brave Step of Working with Influencers

Alexandra Voronetskaya emphasized how significant the decision to collaborate with influencers is for any company. “When a company decides to work with influencers, it is a very brave step,” she noted. This decision means not only expanding a brand’s visibility but also committing to a much more open communication strategy.

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Working with influencers is not just about showcasing a product; it’s about creating an authentic connection. Brands must be prepared for heightened visibility, quicker responses to public feedback, and increased flexibility in their strategies. “You have to answer quicker, you should be more flexible,” Alexandra explained, underscoring the evolving nature of marketing in today’s fast-paced world. This openness can be daunting for some brands, but it can also bring tremendous benefits when executed well.

Getting Real: The Importance of Authenticity

Jekaterina Dubnicka on the other hand delivered a powerful message about the importance of authenticity when collaborating with influencers. “If you decide to go live and public, there is one crucial thing you need to know: No subscriber is interested in your surface. Everyone wants to see something deeper,” Jekaterina said. This statement couldn’t be more fitting in the context of influencer marketing. Audiences today crave genuine connections and transparency, rather than polished advertisements.

She went on to challenge companies considering influencer partnerships: “Before you decide to work with influencers, you need to answer yourself: Why?” This question serves as a reminder that influencer partnerships should be rooted in a clear strategic vision. It’s not enough to just follow trends — businesses need to understand why they want to engage with influencers and how they plan to create value for both their brand and the influencer’s audience.

The Power of Smaller Influencers

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A common misconception in influencer marketing is that success is tied to having millions of followers. However, Jekaterina pointed out that the number of followers doesn’t always equate to success. “The huge amount of followers doesn’t necessarily bring success,” she noted, pointing to the fact that smaller influencers often yield greater engagement. Smaller influencers tend to have a more loyal and interactive audience, making them more flexible and responsive to brand messages.

In iGaming, where emotional connection plays a key role, Alexandra emphasized the importance of finding influencers whose values and approach resonate with the brand. “Working with influencers is about emotions, and when you are on the same page, that is magic,” she said. It’s about creating an authentic, emotional link that transcends the transactional nature of traditional advertising.

All attendees of the EEGS Webinar received a Certificate of Attendance, acknowledging their commitment to continuous learning and professional development in the iGaming industry.

For those who missed the live session, the on-demand video is now available – featuring key insights on how influencers are reshaping the marketing strategies, and practical tips on choosing, briefing, and collaborating with them effectively.

You can watch the full session here: www.youtube.com/@eegamingsummit

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Stay tuned for more updates and upcoming events by following EEGS on social media and visiting their official website.

The post The Power of Influencers in iGaming – Insights from the EEGS Webinar appeared first on European Gaming Industry News.

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