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Kindred acquires Relax Gaming to strengthen its focus on product differentiation and customer experience

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Kindred Group has signed an agreement to acquire the remaining outstanding shares in Relax Gaming, a leading and rapidly growing B2B iGaming supplier, at an implied valuation of up to EUR 320 million for 100 per cent of the shares on a cash free and debt free basis. Kindred has been invested in Relax Gaming since 2013 and the transaction will allow Kindred to acquire the remaining 66.6 per cent of the outstanding shares. The acquisition accelerates Kindred’s strategy to increase its focus on product and customer experience by strengthening Kindred’s product control and product differentiation capabilities.

Kindred Group plc (Kindred) has signed an agreement to acquire the remaining 66.6 per cent of the outstanding shares in Relax Gaming. The transaction values the company at up to EUR 320 million on a cash and debt free basis (Enterprise value) and a total value of the outstanding shares of approximately EUR 295 million (Equity value). Kindred will pay an initial consideration, settled in cash upon completion, of approximately EUR 80 million (on a cash and debt free basis). In addition to the initial consideration, the maximum earn-out payments amount to EUR 113 million and may become payable in 2022 and 2023, subject to Relax Gaming achieving certain earnings thresholds. The transaction will be financed through Kindred’s existing cash and credit facilities.

Relax Gaming is a market leading B2B iGaming software supplier that designs and develops online casino games, supported by an open distribution platform for third party aggregation as well as proprietary poker and bingo products. The company was founded in 2010 and has today c. 240 full-time employees with four main hubs in Malta, Estonia, Sweden and Serbia. Kindred has been invested in Relax Gaming since 2013 and was prior to the transaction the largest owner with 33.4 per cent of the outstanding shares.

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“Through this acquisition we add a rapidly growing and profitable B2B business with a world-class product portfolio, giving us greater control over our casino, poker and bingo offering, putting Kindred in a significantly better position to achieve our long-term strategy to increase our focus on product differentiation and customer experience”, says Henrik Tjärnström, CEO at Kindred Group.

“Joining Kindred Group comes as a natural next step in our long-standing cooperation with Kindred across all our product verticals. Kindred’s strengthened presence will allow Relax Gaming to further invest in and accelerate the expansion of our B2B offering across the globe. We will continue the Relax Gaming journey as a separate B2B entity with unchanged product portfolio and overall strategy, staying true to our values and respecting the hard-earned trust of our customers. Our continued independence is a key element of the transaction, and I am happy to remain on the board of Relax Gaming”, comments Patrik Österåker, Co-founder and Chairman of the Board at the Relax Gaming.

Relax Gaming currently supplies poker and bingo content on an exclusive basis to Kindred along with high quality casino content. The acquisition is expected to generate annual run-rate synergies of EUR 8 million within the next three years for the Group driven especially by lower investment needs and reduced cost of sales. With Relax Gaming as an important addition to the Group, Kindred will be able to further develop its own proprietary product portfolio, and thereby secure unique content differentiation in line with the Group’s strategic direction.

In order to secure continued integrity of Relax Gaming’s B2B customers, Kindred’s intention is to keep Relax Gaming as an independent entity within the Group with a separate Board of Directors and management team. Kindred’s ambition is to continue to invest in Relax Gaming to cement its position as a leading B2B iGaming supplier by further strengthening Relax Gaming’s product offering and by broadening their B2B customer base. In conjunction with the completion of the transaction, all existing employee share option programs in Relax Gaming will be exercised, and Relax Gaming’s management, who is committed to the future success of the company, will retain an ownership of c. seven per cent of total fully diluted shares in the company and Kindred’s ownership in Relax Gaming will be c. 93 per cent after the completion of the transaction and the exercise of the options.

In the last twelve months leading up to May 2021, Relax Gaming generated revenues of approximately EUR 25 million with an EBITDA of approximately EUR 10 million.

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The transaction is conditional to customary regulatory approvals and is expected to be completed in the fourth quarter of 2021.

J.P. Morgan has acted as financial advisor and Cirio Advokatbyrå has acted as legal advisor to Kindred in connection with the transaction.

Roschier Attorneys Ltd acted as the legal advisor to the shareholders of Relax Holding Limited in the transaction.

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Portuguese start-up FootAR is enhancing the Euro 2024 experience with AR tracking and smart data

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With the summer of football heating up, FootAR is showing how live sports can be enhanced with augmented reality. It has created a real-time companion that gamifies the sports experience and emulates player movements with 3D foosball-like figures, adding smart stats and prizes for fans.

FootAR has already made its mark in Portugal, where two notable media organisations have integrated it into their coverage. GMG (Jornal de Notícias) and SportsMultimedia (VSports) use FootAR to bring a 3D experience to Euro 2024 fans.

FootAR is one of 22 companies in the Portuguese games development and creative industries cluster eGamesLab. This ambitious R&D project led out of Madeira aims to attract and develop new talent and technology focused on the growing national video game industry.

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FootAR’s platform went live earlier this year. The initial rollout covered Portuguese league games, partnering with some of the biggest Portuguese clubs like SC Braga and CD Nacional before expanding to cover all the matches at Euro 2024. It offers real-time statistics, in-depth analysis, and seamless integration for news outlets covering live games on their websites.

Fans can relive every goal, track every pass, and stay connected to the game with real-time updates and AR-enhanced visuals. The technology allows fans to rewatch the most significant moments in a live game and view them from multiple angles, together with an accompanying audio commentary.

“We understand the insatiable appetite for football data and the desire to go beyond the final score,” says David Olim, Co-Founder of FootAR. “FootAR empowers fans to delve deeper into the action, following their favourite players, teams, and leagues, and is the perfect way for enthusiasts to analyse the beautiful game – but that’s just the start. As a father of two young children, my goal is to shape how younger generations immerse themselves in these communal experiences. Looking to the future, our interests go way beyond sports. We are starting with football, but within five years, we will have personalised experiences for clubs, artists, and brands to build their own interactive events. 

 

Key Features:

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Augmented Reality – relive the match’s key moments from multiple angles through 3D AR visuals, and get closer to the action with real-time data overlays to follow the game how you want to.

Custom Data Suite – access in-depth statistics for players and teams such as expected goals, pass accuracy and tackles lost. In-game notifications can be customised, ensuring key moments in the game are never missed.. 

Audio Commentary – FoorAR can sync with local radio broadcasts, creating a combination of live commentary and live data which really brings events to life.

With FootAR, new avenues for monetizing audience engagement and sponsors are available to media companies and clubs looking for a solution to drive greater fan engagement, as well as opening up new revenue streams through in-game activations.

Fans can transform their football experience today by downloading FootAR for free on Android and iOS and using the Web/Desktop app. Apple VisionPro and Meta Quest versions of the experience are also being developed and will be released in Q3 2024.

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Week 27/2024 slot games releases

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Here are this weeks latest slots releases compiled by European Gaming

Evolution announced the launch of Balloon Race, its latest-generation online slot game that brings together traditional, much-loved slot features with the excitement of a live game-show-style bonus round featuring a ball drawing machine. Balloon Race, in which players soar high and accumulate multipliers in Qualification and Top-Up phases, follows on from the likes of Evolution’s hugely successful Crazy Coin Flip and Crazy Pachinko slot games with live bonus rounds.

Evolution launches Balloon Race, colourful, latest-generation online slot with live bonus round

 

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Blueprint Gaming’s renowned folklore series returns in style as a host of thrilling mechanics lead the way including the lavish Cash Strike Bonus round and the studio’s brand-new Rapid-Fire Jackpots™ in Luck O’ The Irish Cash Strike. The classic 3×3 grid takes its place under a true Irish rainbow in the countryside as a feast of fruits is accompanied by diamond and golden coin symbols in the base game.

Boundless gold awaits in Blueprint Gaming’s Luck O’ The Irish Cash Strike

 

Booming Games launches yet another instalment in its buffalo migration adventure with its latest game – Buffalo Hold and Win Extreme. This is a stunning 5×3, 25 payline slot which is set against the stunning backdrop of grasslands and canyons where players will experience the most thrilling and hazardous part of the buffalo trek.

 

The team at Blue Guru has paid homage to this unpredictability and insanity in St. Louis 1904 which is packed with bonus features that will keep players pounding the dusty tracks of Missouri in search of victory and potentially big wins. This includes Instant Money Medal Symbols and a Progressive Multiplier Free Games Bonus. Free Spins are triggered when three or more Scatter symbols land on the reels – in the base game, if two Scatters land a second chance feature can trigger.

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AC MILAN AND BOOMERANG SIGN A NEW REGIONAL PARTNERSHIP DEAL

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The global company offering a wide range of iGaming products becomes Rossoneri’s Official Regional Betting Partner in Europe

AC Milan is delighted to announce a new partnership with Boomerang, which will see the company become the Official Regional Betting Partner of the Rossoneri in Europe.

Boomerang, a global company founded in 2021, has rapidly established a strong worldwide presence. Its portfolio features a diverse range of sports betting products, including the flagship brand – Boomerang Sportsbook. The company has demonstrated a commitment to innovation and customer satisfaction, underscored by numerous industry awards.

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This partnership represents a significant milestone for both AC Milan and Boomerang. Both organizations are dedicated to building solid brand credibility and creating an innovative, long-term vision. Boomerang’s rapid growth and dynamic approach align perfectly with AC Milan’s commitment to excellence, strategic global growth, and fan engagement.

Maikel Oettle, Chief Commercial Officer of AC Milan, commented: “We are excited to team up with Boomerang, as this partnership holds great value for our fans. Together, we aim to enhance fan engagement across Europe, offering unique experiences that celebrate our shared passion for sports. By working closely with Boomerang, we look forward to creating memorable moments and strengthening our connection with sports enthusiasts in Europe.”

Ivan Kraynov, Co-Founder of Boomerang, added: “We are incredibly excited to become the Official Regional Betting Partner of AC Milan. This collaboration with the Rossoneri marks a significant milestone for Boomerang. We join forces with the team with which we share our commitment to winning, bravery, and innovation. Together, we’ll strive to drive sports trends and deliver an exclusive experience to fans, partners, and users.”

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