In a landmark move in the world of online gambling, the $2.7 billion takeover of Kindred Group by French lottery giant FDJ has been approved by regulators. The deal, which was initially announced in December 2021, has been met with both excitement and caution from industry experts.
The takeover, which marks FDJ’s entry into the lucrative online gambling market, comes at a time when the industry is experiencing rapid growth and consolidation. Kindred Group, which operates popular online gambling brands such as Unibet and 32Red, is seen as a valuable asset for FDJ as it looks to expand its reach and diversify its offerings.
The approval of the deal by regulators comes with a caveat, however, as FDJ has been ordered to divest its stake in online gambling operator Betclic Everest Group within six months. This condition was put in place to address concerns about potential anti-competitive effects of the takeover.
Despite this hurdle, FDJ remains optimistic about the future of the deal. In a statement, FDJ CEO Stephane Pallez expressed confidence in the company’s ability to navigate the regulatory requirements and complete the takeover successfully.
Industry experts have also weighed in on the news, with many praising the potential benefits of the deal for both companies. Richard Carter, CEO of SBTech, a leading provider of sports betting technology, described the takeover as a “game-changer” for the industry.
“FDJ’s entry into the online gambling market with the acquisition of Kindred Group is a significant development that will create new opportunities for growth and innovation,” Carter said.
The approval of the Kindred Group takeover by FDJ is expected to have far-reaching implications for the online gambling industry. As two major players in the market come together, the landscape is set to shift in new and exciting ways.
With the caveat set by regulators, FDJ will need to carefully navigate the divestment process in order to complete the takeover successfully. However, with the potential benefits of the deal for both companies apparent, industry experts remain optimistic about the future of the partnership. As the online gambling market continues to evolve and grow, the Kindred Group takeover by FDJ is sure to be a key development to watch.
