Kindred Group, officially known as Unibet Group, is working on completing its goal of taking over the iGaming market in the wake of giving approval to completely acquire Relax Gaming. Kindred already owned a large share of the gaming developer, and will now own it outright. The arrangement is assessed to be worth around $348.7 million.
Right now, Kindred Group owns 33% of the shares in Relax Gaming and agreed to a three-year payment arrangement to assume control of the leftover 66%. An underlying payment of $95 million will be given immediately, with installments of $134 million due in 2022 and 2023. Those latter payments are subject to the fulfillment of certain performance stipulations. The takeover will be financed by means of both money on hand and credit.
Henrik Tjärnström, CEO of Kindred Group, said that the acquisition will give the company a quickly developing and beneficial B2B business that controls an elite item portfolio. It will allow it to be better equipped to offer online casino, poker and bingo offerings, placing Kindred in a better situation to accomplish its goal of building its attention on product separation and the client experience.
Relax Gaming is an iGaming provider and third-party aggregator. Established in 2021, it has developed a standing as a world-driving online casino game engineer, with fingers in the poker and bingo areas, as well. Kindred Group came to the front lines of the industry as the owner of Unibet, which presently runs quite possibly the most famous and fun online poker rooms around today. With more than 30 million clients attached to nine brands, Kindred Group is a large player on the betting scene and is growing its range quickly.