French Lottery Giant Set to Acquire Kindred Group

La Française des Jeux, a French lottery and gaming titan, is on the verge of completing the acquisition of Kindred Group, a premier online gambling operator. The impending takeover has been officially confirmed by WSJ.

Kindred is diligently evaluating both the risks and prospective benefits of the deal with the prominent French company.

In a major corporate change that occurred in the spring of 2023, Kindred lost its CEO, Henrik Tjärnström, and a number of board members. As of right now, Nils Anden is acting in the role of CEO. The firm has been pulling out of the worldwide gaming market due to operational losses.

After conferring with industry specialists, Kindred's board of directors has examined several strategic options, such as possible mergers and the company's sale. Kindred's management team submitted a bid to sell the business in 2022. Other significant firms in the gaming industry, such Entain, 888, and Tipico, were uninterested in this, though.

22 January 2024, 12:19

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