#gambling #giant #horizon #Europe
French lottery operator La Francaise des Jeux (FDJ) has officially announced an offer to acquire online gambling company Kindred Group, reports .
If a deal goes through, it would create the second largest company in the European gaming sector.
FDJs are willing to pay $2.83 billion for Kindred, which is a 24% premium to the company’s stock price at the close of trading on Jan. 19.
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Kindred’s board supports the deal.
Big players
FDJ’s main business is in instant lottery games in France. The state still owns a 20 percent stake in the company.
Kindred, on the other hand, owns recognizable European brands such as Unibet and 32Red and is a company with over 1.1 billion dollars in revenue for 2023.
The deal is expected to increase the share of international operations in FDJ’s revenue from 6% to 20%.
