Online Casino Supplier Relax Gaming Joins Kindred in €295mn Deal
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Kindred Group will buy 66.6% of Relax Gaming for €295 million. Kindred has been investing in Relax since 2013. Relax is an established provider of content for the online casino industry. It has four main hubs in Malta, Estonia, Sweden and Serbia. Relax provides its in-house and aggregated content to hundreds of brands across multiple markets.
Kindred has long been a client of Relax Gaming. Kindred expects the deal to generate annual run-rate synergies of €8 million within the next three years. Relax will continue to operate as an independent entity with a separate Board of Directors and management team. The deal is expected to close in the fourth quarter of the year, subject to regulatory approvals.
