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FDJ’s tender offer for Kindred succeeds, creating a European gaming champion

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La Française des Jeux (FDJ) announces the success of its tender offer for Kindred Group plc, a leading player in the online betting and gaming sector in Europe.

At the end of the offer period ending on 2 October, 195,659,291 Kindred Swedish Depository Receipts (SDRs), representing 90.66% of the Group’s capital, were tendered. FDJ had also acquired 2,400,000 Kindred SDRs directly from Veralda, representing 1.11% of the Group’s share capital.

With the condition precedent of controlling more than 90% of Kindred’s share capital1 fulfilled, FDJ decided to complete the acquisition of Kindred Group plc. Settlement-delivery for Kindred shareholders who have tendered their SDRs to the offer will take place from 11 October and FDJ will implement a squeeze-out procedure on Nasdaq Stockholm.

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In addition, FDJ announces that it is extending its offer until 18 October 2024 at 5 p.m. CEST to enable Kindred shareholders who have not tendered their shares to do so on unchanged terms, i.e. SEK 130 per SDR. Settlement and delivery will take place from 29 October.

Kindred is one of the top five online betting and gaming players in Western Europe, present in seven of the top ten European markets, chief among them the Netherlands, the UK, France, Sweden and Belgium. It offers a comprehensive online offering (sports and horse betting, poker and casino), operating brands such as Unibet and 32Red.

This transaction of nearly €2.5 billion creates a European champion with a diversified and balanced profile, based on monopoly activities, primarily lotteries, in France and Ireland, and on online sports betting and gaming activities open to competition in Europe.

The new combined group resulting from this offer will generate around 26% of its revenue internationally, and its online gaming range open to competition will account for around 27% of its business.

Stéphane Pallez, Chairwoman and CEO of the FDJ Group, said: “I am delighted to announce today the acquisition of Kindred, a leading European player in the competitive online betting and gaming sector. Kindred has strong brands, recognised technological excellence and an attractive growth and profitability profile, all of which will bolster FDJ’s strengths. The two groups also share high standards for responsible gaming and a business model that combines performance and responsibility. This acquisition creates a new European champion that intends to pursue its strategy of sustainable and profitable growth for the benefit of all its stakeholders.”

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Aquisitions/Mergers

NOVOMATIC successfully completes sale of ADMIRAL Austria to Tipico and focuses on international growth markets

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Europe’s leading gaming technology group has successfully completed the sale of ADMIRAL Austria to Tipico. This transaction underscores NOVOMATIC’s long-term focus on global expansion and marks another important milestone in its international growth strategy. ADMIRAL Austria will remain an important technology partner under its new owner Tipico and will continue to rely on NOVOMATIC’s innovative technology solutions in the future.

Stefan Krenn, Executive Board Member of NOVOMATIC AG, emphasized: “The completion of this transaction marks an important step in our global expansion strategy with a clear focus on international growth markets. ADMIRAL has developed into an established market leader over the past decades, and we thank all ADMIRAL employees for their great commitment. We are pleased to have found a strong and reliable technology partner in Tipico, who will successfully continue the company’s operations in Austria.”

Axel Hefer, CEO of the Tipico Group, stated: “We are delighted about the successful completion of this transaction. ADMIRAL is a leading Austrian company with a strong legacy, and clear potential for future growth. Both companies are synonymous with state-of-the-art technology, innovative products and a high focus to player protection. Our future collaboration is very good news for our customers.”

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The closing of the transaction followed the receipt of all required regulatory approvals.

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Aquisitions/Mergers

DIA and Christchurch Casino Reach Settlement in Anti-Money Laundering Proceedings

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The New Zealand Department of Internal Affairs has reported that a settlement has been reached in the civil proceedings against Christchurch Casinos Limited for alleged breaches of its obligations under the Anti-Money Laundering and Countering Financing of Terrorism Act 2009.

As part of the settlement, Christchurch Casino has admitted all seven causes of action in DIA’s amended statement of claim and has agreed to join DIA in recommending that the High Court impose a penalty of $5.06m on Christchurch Casino.

Between May 2023 and September 2024, DIA conducted an investigation into Christchurch Casino’s AML/CFT compliance, and found that it had breached a number of its obligations under the Act.

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DIA found that Christchurch Casino had failed to establish, implement and maintain a compliant AML/CFT compliance programme, adequately monitor accounts, conduct compliant enhanced customer due diligence, terminate existing business relationships when required and keep records as required by the Act. These failures spanned between December 2018 and December 2023.

“This agreement is a significant and positive outcome. It’s encouraging to achieve our intended result without the time and expense of court proceedings” said Serge Sablyak, Director of AML/CFT Group.

“While the regulatory breaches were serious, we acknowledge Christchurch Casino’s decision to admit to the breaches and take responsibility for what were substantial failings.”

“We’re proud that our work has strengthened the integrity of New Zealand’s financial system and has helped build public confidence in the prevention of money laundering and terrorism financing.”

DIA and Christchurch Casino have recommended to the High Court that the matter now proceed to a penalty hearing for the Court to determine the appropriate penalty to be imposed on Christchurch Casino.

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Christchurch Casino is not alleged to have been directly involved in money laundering or the financing of terrorism.

The post DIA and Christchurch Casino Reach Settlement in Anti-Money Laundering Proceedings appeared first on European Gaming Industry News.

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Aquisitions/Mergers

Donaco International Shareholders Approve Acquisition by On Nut Road Limited

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Donaco International Limited (DNA), an ASX-listed company focused on leisure, entertainment and associated technology, announced that its shareholders have voted in favour of the proposed acquisition of 100% of the company’s shares by On Nut Road Limited (ONR) via a scheme of arrangement. Donaco International operates casino businesses in Southeast Asia.

The resolution to approve the Scheme was passed with significant support, with 98.11% of votes cast by Donaco shareholders in favour. Additionally, 77.50% of Donaco shareholders present and voting, either in person or by proxy, attorney, or corporate representative, also voted in favour of the Scheme. The voting results reflect strong shareholder backing for the proposed acquisition.

The Scheme remains subject to the approval of the Supreme Court of New South Wales at a hearing scheduled for Thursday, 7 August 2025. The Second Court Hearing will only occur if all of the remaining conditions precedent to the Scheme have been satisfied or waived. If the court approves the Scheme and all conditions are met, Donaco intends to lodge a copy of the court orders with ASIC on Friday, 8 August 2025, upon which the Scheme will become effective and DNA shares will be suspended from trading on the ASX. Pending final approvals, the implementation of the Scheme is expected to occur on Tuesday, 19 August 2025.

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