Venerable European online-poker brand Unibet Poker is likely to become part of a new corporate family in the months ahead. Kindred Group plc, the owner of Unibet and several other online brands, has agreed to be acquired by France's La Française des Jeux (LFJ), best known as being the operator of France's national lottery.
The deal will be valued at more than USD $2.8 billion if approved by Kindred Group's shareholders, which is expected to occur. The offer represents a significant premium over Kindred Group's current stock price as traded on the NASDAQ Stockholm exchange, and the offer has been unanimously approved by Kindred's board of directors.
“I’m delighted with [the] transaction announcement between FDJ and Kindred, creating a leading European gaming operator with the financial and strategic capabilities to further expand its global footprint," said Kindred Group CEO Nils Andén. "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 organization, 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.”
LFJ hopes to become Europe-wide operator
The acquisition marks one of the first major steps for La Française des Jeux in its plans to become a major iGaming operator throughout Europe. FDJ began its existence as a French government-controlled entity, but was taken public in 2018.
