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FDJ launches a recommended all-cash tender offer for Kindred to create a European gaming champion

- In order to implement its ambition to become an international gaming operator, FDJ is announcing the filing of a tender offer to acquire the entire share capital of Kindred
- Kindred is one of Europe’s leading online betting and gaming companies, operating the Unibet brand
- The offer is being made at a price of SEK 130 per share in Kindred, which is listed on Nasdaq Stockholm
- This price represents a premium of 24% over the closing price on 19 January 2024 and 35% over the weighted average price for the last 30 trading days, and corresponds to an enterprise value of €2.6 billion
- This acquisition will create a European gaming champion with an enhanced financial profile
- Second-largest operator in Europe’s gaming sector
- Stronger revenue and earnings growth
- FDJ and Kindred share high standards for responsible gaming and a business model that combines performance and responsibility
- The combined Group will only operate on markets that are locally regulated or on the path of becoming regulated
- This transaction will create value for FDJ shareholders. In particular, it is expected to lead to a more than 10% accretion in dividend per share, starting from the 2025 financial year to be paid in 2026
- This offer is unanimously recommended by Kindred’s Board of Directors
- Five key shareholders, holding a combined 27.9%[1] of the capital, have irrevocably undertaken to support the transaction and tender their shares
- The transaction will take the form of an all-cash tender offer, which will be launched on 19 February 2024 for a maximum period of nine months. The completion of the tender offer remains subject to regulatory authorisations and to FDJ’s acquisition of at least 90% of Kindred’s capital
Stéphane Pallez, Chairwoman and CEO of FDJ Group, said: “I am pleased to announce today the proposed acquisition of Kindred. Fully aligned with our strategy, it will give the Group a diversified and balanced profile, based on several pillars: the monopoly activities, mainly the lottery, on our French historical market and, since November, in Ireland, with the acquisition of the Irish lottery operator PLI; and online sports betting and gaming activities open to competition in Europe. In this market, Kindred is one of the leading operators, combining strong brands, best-in-class technology platforms, an attractive growth profile and a committed approach to responsible gaming. Given their respective histories, strategic strengths and core values, FDJ and Kindred are highly complementary, and I will be delighted to welcome Kindred’s management team and many talented individuals into the combined Group following this transaction. The combination will result in a stronger strategic positioning and significant value creation for the benefit of our shareholders and broader stakeholders.”
Nils Andén, CEO of Kindred, said: “I’m delighted with today’s transaction announcement between FDJ and Kindred, creating a leading European gaming operator with the financial and strategic capabilities to further expand its global footprint. I believe that combining with FDJ, Kindred can accelerate the delivery of long-term strategic projects, continue to grow in core markets, and provide a trusted source of entertainment to customers. It will also speed up our path towards 100% locally regulated revenue. I’m excited to bring Kindred’s extensive experience and know-how into FDJ’s organisation, contributing to the development of a leading online gaming business. I’m also very proud that FDJ acknowledges and values the skilled employees and strong assets within Kindred.”
In order to implement its ambition to become an international gaming operator, FDJ is announcing the filing of an all-cash tender offer to acquire the entire share capital of Kindred, a company listed on Nasdaq Stockholm. This offer is unanimously recommended by Kindred’s Board of Directors.
Kindred, a leading operator in the European online betting and gaming sector
Kindred is one of Europe’s leading online betting and gaming operators:
- Kindred provides a diversified online offering (sports and horse-race betting, poker and casinos), including brands such as Unibet and 32Red.
- With revenue (after betting duties) of £893 million in 2023, Kindred is one of the top five operators in Western Europe, present in seven of the top ten European markets, including the Netherlands, the United Kingdom, France, Sweden and Belgium.
- Kindred has been an online betting and gaming operator for over 25 years and has extensive digital expertise and proven technology platforms.
The combination between FDJ and Kindred will create a diversified European champion
This transaction will create a highly digitalised European champion that is diversified both in terms of its offering and its geographic footprint:
- The FDJ Group’s international presence will expand to account for approximately 20% of its gross gaming revenue (GGR)[2], compared to 6% currently.
- Online share of GGR will rise from 14% for FDJ to 29% for the combined Group.
- Kindred’s cutting-edge digital expertise and technology platforms will accelerate FDJ’s digitalisation for online markets.
- The combined Group will offer a wide gaming range on markets open to competition (online sports and horse-race betting, online poker and online casinos).
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- Online betting and gaming markets open to competition will account for 19% of the new Group’s GGR, versus 2% at present.
- In France, thanks to the acquisition of Unibet, the FDJ group will become the third largest operator in the online sports betting and gaming open to competition sector.
- Online betting and gaming markets open to competition will account for 19% of the new Group’s GGR, versus 2% at present.
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FDJ and Kindred share high standards of responsible gaming and a business model that combines performance and responsibility. The combined Group will only operate on locally regulated – or on the path of becoming regulated – markets
FDJ and Kindred deploy the best practices in responsible gaming and sustainable development in their respective activities. This will enable the new Group to pursue a growth model that combines performance and responsibility.
The combined Group will only operate on markets that are locally regulated or on the path of becoming regulated and plans in particular to exit the Norwegian market.
FDJ’s acquisition of Kindred strengthens the FDJ Group’s financial profile
In 2023, Kindred generated revenue (after betting duties) of £893 million and recorded EBITDA of £205 million, with an EBITDA margin on revenue of 23%. Kindred is targeting EBITDA for 2024 to exceed £250 million.
The combination of Kindred and FDJ will create a Group that is significantly more attractive financially, including:
- Accelerated growth in revenues and in free cash flow; accretion in recurring EBITDA margin – beyond FDJ’s standalone target of at least 25% by 2025;
- A significant increase in the Group’s earnings per share and earnings growth.
FDJ will finance this acquisition using a large part of its available cash and through a bridge loan with leading French banks.
The FDJ Group:
- Reiterates aiming a mid-term net debt to recurring EBITDA ratio of ≤2x;
- Will aim to refinance the bridge loan on attractive market terms and will target an investment grade rating.
FDJ’s acquisition of Kindred will create value for FDJ shareholders
- The combined Group will benefit from scale, iconic brands and proven technology platforms.
- The consolidation of Kindred into the FDJ Group will create tangible value for the Group’s shareholders with a more than 10% accretion in dividend per share starting from the 2025 financial year to be paid in 2026, based on a distribution rate of 75% of the Group’s combined adjusted net income, post completion of the transaction.
An offer unanimously supported by both Boards of Directors
The tender offer has been supported by both Groups’ Boards of Directors. Kindred’s Board of Directors recommends that Kindred’s shareholders tender their shares to FDJ’s tender offer.
- FDJ has obtained an irrevocable agreement from five Kindred shareholders, representing 27.9% of the capital, to tender their shares.
- The offer price is SEK 130 per share, representing an enterprise value of €2.6 billion based on Kindred’s financial position at the end of 2023.
- The proposed price represents a premium of 24% over the closing price on 19 January 2024, of 35% over the weighted average price over the last 30 trading days and of 36% over the last 90 trading days.
The tender offer will be launched on 19 February 2024 for a maximum period of nine months, subject to: the usual conditions precedent for a tender offer on the Swedish market; obtaining regulatory approvals, in particular from the Swedish Financial Markets Authority and the French Competition Authority; the amendment of Kindred’s articles of association to allow the implementation of a squeeze-out procedure in the event of FDJ acquiring at least 90% of Kindred’s share capital; and the acquisition by FDJ of at least 90% of Kindred’s share capital.
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TaDa Spins a Treasure Trail in TriLuck™ Sequel, 3 Coin Treasures 2

Leading content provider, TaDa Gaming, is giving players another chance to hit the big time with 3 Coin Treasures 2, a three reels, five rows slot with 243 ways to win.
Part of the TriLuck™ series and a sequel to hit release 3 Coin Treasure, this new release delivers colourful coins and three separate colour coin Scatters to trigger the three different bonus games. Add in the Firecracker Wilds, the Golden Auspicious Coin, Double Reel multiplier, fixed multiplier jackpots and a Lock & Respin feature and it’s easy to see why players are going coin crazy.
When any colour coin Scatter appears on the reels, it can trigger one of the free games .Blue will trigger the Tiger, purple is for the Dragon and green, the Koi free games. Two scatters will trigger two games and when all three coin Scatters appear on the reels, then all three games can trigger simultaneously for some seriously lucky big wins.
At the beginning of each bonus game round, players will receive five bonus gold jackpot coins on the reels. Each free game grants three free spins. The Lock & Respin feature will kick in when extra gold coins or any of the Scatters appear, constantly resetting the free spin counter to three until no more winning combinations are achieved.
Land a purple coin during a free game and unlock the Double Reel Multiplier which is a new addition. If any other purple coins land on the reels, a new grid with another five gold coins will open and a 2x multiplier gets applied to each colourful coin wins.
When the green Koi Scatter coin appears in the bonus games, it acts as an accumulator and collects all the wins from the colourful coins. Gold, blue and purple coins also offer bonus multipliers.
Gold and purple include 0.1x, 0.2x, 0.5x, 0.8x, 1x, 1.5x, 2x, 2.5x, and 3x of the total bet; while blue gives a Mini bonus from 3x-8x; Minor will award 12.5x-30x; and Major will see a generous 100x multiplier.
During these rounds, only gold jackpot coins, colourful coins and the three Scatters will play out on the reels ,giving extra win potential and big bonuses including one of the four fixed multiplier jackpots which are dynamically based on the triggering bet.
Mini is worth 5x, with Minor rising to 10x. Major will award 50x and with the Grand Jackpot worth 5,000x, 3 Coins Treasure 2 is definitely a well-named game.
Sean Liu, Director of Product Management, TaDa Gaming, said: ‘The TriLuck™ games are designed to offer a mix of easy to play slots with interacting features and mechanics offering very big win potential. 3 Coins Treasure 2 delivers this in a superbly designed sequel with added gamification.’
The post TaDa Spins a Treasure Trail in TriLuck™ Sequel, 3 Coin Treasures 2 appeared first on European Gaming Industry News.
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Super Flip Deluxe gives a fresh spin to a fan favourite

Play’n GO revisit a classic hit with Super Flip Deluxe, bringing back the charm of the original slot while adding new ways to win and a sleek new look.
This update to Super Flip keeps everything fans loved, while giving it a modern refresh. The clean, classic layout is still here – now with sharper graphics and smoother gameplay. Players can also enjoy new features that give them more chances to win, such as surprise coin prizes and a second spin when things don’t quite go their way.
A key feature sees the game give players another chance when the first two reels match but don’t lead to a win – a clever way to keep the action going. At the same time, random coins can land and award instant prizes, adding unexpected rewards during regular play. There’s also a free spins round where the reels flip, offering a different view and even more chances to line up a win.
This slot is ideal for anyone who enjoyed the original Super Flip, as well as new players who want something simple, quick, and rewarding. The balance of familiar play with some exciting updates makes it easy to pick up, but satisfying to return to again and again.
The post Super Flip Deluxe gives a fresh spin to a fan favourite appeared first on European Gaming Industry News.
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Scott Pilgrim Takes Over San Diego – New Scott Pilgrim EX Gameplay and Physical Editions Revealed During San Diego Comic Con Panel

Physical Editions available for pre-order from Limited Run Games
San Diego got a face full of hard-hitting Canadian brawler action with a panel from Scott Pilgrim franchise creator Bryan Lee O’Malley, developer and publisher Tribute Games, Limited Run Games, and Universal Products & Experiences on Scott Pilgrim EX that included a lively discussion and a first-look at a gameplay teaser showcasing the start of Scott Pilgrim’s latest adventure. The panel culminated with an announcement revealing Scott Pilgrim EX’s physical editions, which will be available for pre-order now through Sept. 21 from Limited Run Games.
Today’s panel included Bryan Lee O’Malley as well as Tribute Games President Jean-Francois Major, Tribute Games Narrative Designer Yannick Belzil, Limited Run Games CEO Josh Fairhurst, Universal Products & Experiences Executive Producer John Melchior and was moderated by Blank Check Podcast host Griffin Newman. The panel dove into the game’s place in the franchise as a brand-new adventure in its ever-growing universe. Bringing some in-universe music to the show, acclaimed rock band and Scott Pilgrim alumni Anamanaguchi’s Peter Berkman made a surprise appearance to chat about the group’s involvement in creating Scott Pilgrim EX’s soundtrack and showcase a brand-new track from the game.
The sneak peek of gameplay for the upcoming beat’em-up highlighted the start of Scott and Ramona’s romp through Toronto. With Sex Bob Omb’s instruments stolen, the duo has to race across the city’s landscape, from its streets to its beaches (Toronto always had beaches, right?) and maybe even back in time to reclaim them from new gangs that threaten to take over the worl in d and Ramona’s returning evil exes.
You can watch the all-new Scott Pilgrim EX Gameplay Sneak Peek that debuted during the Scott Pilgrim EX San Diego Comic Con panel here: youtube.com/watch?v=nnR9UNNDEt0
Limited Run Games announced it will release three different physical editions of Scott Pilgrim EX – all of which are available to preorder now:
The Scott Pilgrim EX – Standard Edition ($39.99) includes:
- Game case with foil key art cover exclusive to the Limited Run Games’ preorder
- Reversible cover art with artwork by Crisppyboat
- Game disc/cartridge
The Scott Pilgrim EX – Deluxe Adventure Edition ($64.99) includes:
- Game case with foil key art cover exclusive to the Limited Run Games’ preorder
- Reversible cover art with artwork by Crisppyboat
- Game disc/cartridge
- Tie-in comic by Bryan Lee O’Malley
- CD game soundtrack
- Deluxe box with reversible cover art by illustrator Matias Bergara
The Scott Pilgrim EX – Ultimate Adventure Edition ($174.99) includes:
- Game case with foil key art cover exclusive to the Limited Run Games’ preorder
- Game disc/cartridge
- CD game soundtrack
- Scott Pilgrim EX Game Goose replica box
- Reversible poster featuring art from Bryan Lee O’Malley and Matias Bergara
- Hardcover artbook / strategy guide
- Acrylic diorama with Scott and Ramona figures
- Pixelated, two-sided commemorative coin
The post Scott Pilgrim Takes Over San Diego – New Scott Pilgrim EX Gameplay and Physical Editions Revealed During San Diego Comic Con Panel appeared first on Gaming and Gambling Industry in the Americas.
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