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Kindred acquires Relax Gaming to strengthen its focus on product differentiation and customer experience
Kindred Group has signed an agreement to acquire the remaining outstanding shares in Relax Gaming, a leading and rapidly growing B2B iGaming supplier, at an implied valuation of up to EUR 320 million for 100 per cent of the shares on a cash free and debt free basis. Kindred has been invested in Relax Gaming since 2013 and the transaction will allow Kindred to acquire the remaining 66.6 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.
Kindred Group plc (Kindred) has signed an agreement to acquire the remaining 66.6 per cent of the outstanding shares in Relax Gaming. The transaction values the company 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). Kindred will pay an initial consideration, settled in cash upon completion, of approximately EUR 80 million (on a cash and debt free basis). 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. The transaction will be financed through Kindred’s existing cash and credit facilities.
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. The company 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.
“Through this acquisition we add a rapidly growing and profitable B2B business with a world-class product portfolio, giving us greater control over our casino, poker and bingo offering, putting Kindred in a significantly better position to achieve our long-term strategy to increase our focus on product differentiation and customer experience”, says Henrik Tjärnström, CEO at Kindred Group.
“Joining Kindred Group comes as a natural next step in our long-standing cooperation with Kindred across all our product verticals. Kindred’s strengthened presence will allow Relax Gaming to further invest in and accelerate the expansion of our B2B offering across the globe. We will continue the Relax Gaming journey as a separate B2B entity with unchanged product portfolio and overall strategy, staying true to our values and respecting the hard-earned trust of our customers. Our continued independence is a key element of the transaction, and I am happy to remain on the board of Relax Gaming”, comments Patrik Österåker, Co-founder and Chairman of the Board at the Relax Gaming.
Relax Gaming currently supplies poker and bingo content on an exclusive basis to Kindred along with high quality casino content. 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. With Relax Gaming as an important addition to the Group, Kindred will be able to further develop its own proprietary product portfolio, and thereby secure unique content differentiation in line with the Group’s strategic direction.
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 Board of Directors and management team. 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. In conjunction with the completion of the transaction, all existing employee share option programs in Relax Gaming will be exercised, and Relax Gaming’s management, who is committed to the future success of the company, will retain an ownership of c. seven per cent of total fully diluted shares in the company and Kindred’s ownership in Relax Gaming will be c. 93 per cent after the completion of the transaction and the exercise of the options.
In the last twelve months leading up to May 2021, Relax Gaming generated revenues of approximately EUR 25 million with an EBITDA of approximately EUR 10 million.
The transaction is conditional to customary regulatory approvals and is expected to be completed in the fourth quarter of 2021.
J.P. Morgan has acted as financial advisor and Cirio Advokatbyrå has acted as legal advisor to Kindred in connection with the transaction.
Roschier Attorneys Ltd acted as the legal advisor to the shareholders of Relax Holding Limited in the transaction.
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GR8 Tech has been awarded Best Platform Provider 2026 at the SiGMA Eurasia Awards, reaffirming its position as a leading technology partner for casino and sportsbook operators worldwide.
The recognition highlights the company’s ability to deliver a stable, high-performance platform that enables rapid market entry and seamless scalability across regulated and emerging markets.
The award reflects GR8 Tech’s Platform for Champions philosophy—a full-stack iGaming platform engineered for speed, flexibility, and reliability under peak operational loads. Designed to support both casino and sportsbook businesses, the platform allows operators to configure, localize, and scale efficiently while maintaining consistent performance across jurisdictions.
A key driver behind the win is GR8 Tech’s recently launched Crypto Turnkey solution, which combines a comprehensive sportsbook and casino offering with native multi-wallet functionality. This solution enables operators to enter crypto-friendly markets faster, streamline payments, and offer modern betting experiences tailored to evolving player preferences.
Commenting on the achievement, Sergey Ghazaryan, Chief Revenue Officer at GR8 Tech, said:
“Awards are meaningful when they reflect real-world performance. This recognition confirms that operators can rely on our platform when entering new markets and scaling under pressure. The Platform for Champions is built to perform when it matters most, and we’ll continue delivering the competitive advantages our partners need to succeed locally and globally.”
The Best Platform Provider 2026 title follows GR8 Tech’s recent accolade as Best Software Supplier of the Year at the European iGaming Awards, further cementing the company’s reputation as a top-tier iGaming technology provider.
With a focus on rapid integration, smart localization, and long-term scalability, GR8 Tech continues to set new benchmarks for platform performance and innovation in the global iGaming industry. Operators looking to launch faster and scale with confidence can explore GR8 Tech’s award-winning Platform for Champions through personalized demos and consultations.
The post GR8 Tech Named Best Platform Provider 2026 at SiGMA Eurasia Awards appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
brand sponsorship Brazil
Esportes da Sorte Becomes Official Sponsor of Brazil’s Biggest Carnival Celebrations in 2026
Esportes da Sorte, one of Brazil’s leading iGaming brands, has announced a major nationwide sponsorship for Carnival 2026, securing an official presence at the country’s most iconic and culturally significant celebrations.
The initiative marks one of the most extensive Carnival activation projects ever undertaken by a gaming company in Brazil.
For Carnival 2026, Esportes da Sorte will serve as an official sponsor in seven Brazilian capitals: Recife, Salvador, Rio de Janeiro, São Paulo, Belo Horizonte, Natal, and Maceió. In addition, the brand will have a strong presence in Olinda, a city internationally recognized for its cultural heritage, along with targeted activations in Caicó (Rio Grande do Norte), a key production hub for the company’s promotional materials.
This nationwide project reflects Esportes da Sorte’s long-term commitment to Brazilian popular culture and its continued investment in community-based celebrations across multiple regions. The 2026 Carnival strategy has been developed city by city, embracing the diversity of Carnival expressions—from traditional street blocos and electric trios to large-scale urban stages—while adapting visual identity, messaging, and experiences to local traditions and cultural narratives.
Darwin Filho, CEO of Esportes Gaming Brasil, emphasized the cultural importance of the initiative:
“Carnival is part of Brazil’s identity and has always been part of Esportes da Sorte’s journey. Being present at the country’s main Carnival celebrations reinforces our long-term commitment to Brazilian culture, to the cities, and to the people who bring this festival to life in the streets.”
Marcela Campos, Vice President of Esportes Gaming Brasil, highlighted the localized approach behind the project: “Our Carnival strategy was carefully designed for each city, respecting its unique traditions and cultural characteristics. The goal is to create authentic experiences for Carnival-goers and integrate the brand organically into each celebration—whether through blocos, electric trios, or major urban hubs.”
Beyond on-the-ground activations, Esportes da Sorte’s Carnival 2026 campaign includes a comprehensive media and engagement strategy. The initiative will feature coordinated activations across television, radio, out-of-home advertising, and a national public relations campaign before, during, and after Carnival. Content creation and influencer partnerships will further amplify reach, capturing behind-the-scenes moments and authentic Carnival experiences across multiple locations.
Following its presence in more than 100 blocos and street parties during Carnival 2025, Esportes da Sorte is significantly expanding its footprint for 2026. The nationwide sponsorship solidifies the brand’s leadership role at Brazil’s largest cultural event and strengthens its positioning at the intersection of entertainment, culture, and gaming.
The post Esportes da Sorte Becomes Official Sponsor of Brazil’s Biggest Carnival Celebrations in 2026 appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
Tuesday 10th February 2026: Leading Brazilian iGaming company Esportes da Sorte will deliver one of the most extensive Carnival activations in the industry for Carnival 2026, with an official presence at the country’s most iconic and emblematic celebrations.
The brand will serve as the official sponsor of festivities in seven Brazilian capitals — Recife, Salvador, Rio de Janeiro, São Paulo, Belo Horizonte, Natal and Maceió — as well as having a strong presence in Olinda, a city of major cultural significance. The national project will also include special activations in Caicó (RN), a key production hub for the brand’s promotional merchandise.
This initiative reflects Esportes da Sorte’s continued investment in Brazilian popular culture, built over several years across different regions of the country. In 2026, this positioning takes shape through a structured national project that embraces the diversity of Carnival formats — from traditional street blocos to electric trios and major urban stages — with visual identity and activations designed city by city, respecting local symbols, aesthetics and narratives.
“Carnival is part of Brazil’s cultural identity and also part of Esportes da Sorte’s journey. Being present at the country’s main Carnival celebrations is a strategic choice that reinforces our long-term commitment to popular culture, to the cities, and to the people who live this festival in the streets,” said Darwin Filho, CEO of Esportes Gaming Brasil.
“Our Carnival project was designed city by city, respecting the unique characteristics and culture of each sponsored location. The idea is to ensure a real presence and unique experiences for Carnival-goers, integrating the brand organically into the rhythm of each celebration. Whether through blocos, trios or major urban hubs, we want to strengthen ourselves as the brand that elevates the connection between culture and entertainment,” said Marcela Campos, Vice President of Esportes Gaming Brasil.
Beyond its on-the-ground presence, Esportes da Sorte’s Carnival 2026 strategy includes an integrated media and engagement approach, featuring activations across TV, radio, out-of-home media and a national PR operation before, during and after the festivities, focused on high-quality coverage and organic content generation.
The project will also include content and influencer engagement initiatives across multiple locations, expanding organic reach while capturing behind-the-scenes moments and Carnival experiences.
In 2025, the brand was present in more than 100 blocos and street parties across different regions of the country. For 2026, Esportes da Sorte is taking things to the next level, consolidating a nationwide project and reinforcing its leadership role in Brazil’s largest popular event.
The post Esportes da Sorte to be official sponsor of Brazil’s leading Carnival celebrations in 2026 appeared first on Americas iGaming & Sports Betting News.
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