New corporate partnership for Unibet

February 2, 2024
2,845 Views
Nenad Nikolic

Overview

Venerable European online-poker brand Unibet Poker is set to undergo a significant transformation as Kindred Group plc, its parent company, ventures into an acquisition deal with France's La Française des Jeux (LFJ), renowned for operating France’s national lottery. The deal, valued at over USD $2.8 billion, awaits approval from Kindred Group’s shareholders, a move expected to secure a leading position for the conglomerate in the European gaming industry.

Strategic Implications

Unanimous Approval and Strategic Vision

Kindred Group CEO Nils Andén expressed enthusiasm about the transaction, anticipating a synergistic partnership with FDJ. The deal aims to expedite long-term strategic projects, foster growth in core markets, and establish a reliable source of entertainment for customers. Andén believes that merging with FDJ will accelerate Kindred's path towards 100% locally regulated revenue.

FDJ's Aspirations

La Française des Jeux's acquisition of Kindred is a pivotal step in its pursuit of becoming a major iGaming operator across Europe. Stéphane Pallez, the Chairwoman and CEO of FDJ Group, highlighted the strategic alignment between the two entities. The combined group, post-transaction, is expected to have a diversified profile, including monopoly activities, online sports betting, and gaming across Europe.

Historical Significance

Unibet's Legacy

Unibet, one of Europe’s oldest online-gambling brands, has a rich history dating back to its founding in 1997 by Anders Ström. The brand, which entered the online sphere in 1999, evolved into Kindred Group in 2016. Today, Kindred Group encompasses various brands, including 32Red, Bingo.com, Casinohuone, serving diverse European markets.

FDJ's Evolution

La Française des Jeux, initially a French government-controlled entity, transitioned into a publicly traded company in 2018. The acquisition of Kindred is a strategic move for FDJ to broaden its presence in online sports betting and gaming activities, aligning with its diversified and balanced profile strategy.

Q&A Section

Q1: What are the key strategic objectives behind Kindred Group's acquisition by La Française des Jeux?
A1: The acquisition aims to accelerate long-term strategic projects, foster growth in core markets, and establish a reliable source of entertainment, contributing to Kindred's path towards 100% locally regulated revenue.

Q2: How does La Française des Jeux plan to evolve as a major iGaming operator in Europe through this acquisition?
A2: The acquisition positions FDJ as a diversified iGaming operator with monopoly activities, online sports betting, and gaming across Europe, enhancing its strategic positioning for significant value creation.

Q3: What is the historical background of Unibet, and how has it evolved within Kindred Group?
A3: Unibet, founded in 1997 by Anders Ström, transitioned into Kindred Group in 2016. It stands as one of Europe’s oldest online-gambling brands, with a legacy dating back to its early online endeavors in 1999.


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