Kindred Group acquires Relax Gaming in a deal worth £275m

Marta Dimitrov | Published 6 Jul 2021, 9:31 a.m.

These days a deal between Kindred Group and Relax Gaming happened. The Unibet operator Kindred acquired the remaining shares in Relax Gaming for a value of £275m.

For seven years already Kindred has been the largest shareholder in Relax Gaming, owning 33.4% of the company shares. They will split the payment of the £275m or the remaining 66.6% of shares in three parts. There will be an initial consideration, and two earn-out payments to be paid in the next two years. 

The Kindred chief executive Henrik Tjärnström declared that this way they would rapidly grow and add a profitable B2B business with a world-class product portfolio. He furthermore emphasized that it would give them greater control over their casino, poker, and bingo offerings, so Kindred would be in a better position of achieving its long-term strategy.

Kindred board of directors to act independently

Relax Gaming creates online casino games for ten years already. At the moment Relax Gaming supplies poker and bingo content exclusively for Kindred. The last 12 months for Relax brought the provider £25m revenue.

The idea of Kindred is to have a separate board of directors and a management team, meaning to act as independent in the group. Their investments in Relax Gaming will continue aiming to have better product offerings, and to bring new customers in. Relax management should keep about 7% of the shares, while the rest 93% will remain to Kindred.

Relax Gaming co-founder and chairman Patrik Österåker said this deal comes as naturally as they have a long collaboration with Kindred. He states that Kindred will help Relax Gaming to expand its presence on the market.

About Relax Gaming

Founded by Patrik Österåker and Jani Tekoniemitrik Relax Gaming begin their journey in 2010. The provider is both an online provider and an open casino platform supplying games from other providers on the network. Its products are licensed by the UK Gambling Commission and the Malta Gaming Authority.

In 2014 they launched a poker product, to have a casino platform product, and bingo launched next year. In their main offices in Malta, Estonia, Sweden, and Serbia they have about 240 employees working. Some of their partners are Big Time Gaming, Push Gaming, and Kalamba Games.

About Kindred Group 

Over the last 20 years, Kindred helped to bound 9 European online gambling brands to make one of the biggest such companies in the world. Offering digital entertainment to their 30 million customers they started in 1997.

 The company’s founder is  Anders Ström. The launch of Unibet quickly helps them gain a loyal customer base. Unibet today offers services to 200,000 customers, across 80 countries. In 2016 they have nine consumer brands in their portfolio and already a significant expansion on the market.