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Latest News
Kindred acquires Relax Gaming to strengthen its focus on product differentiation and customer experience
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.
“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.
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.
Latest News
Week 8/2025 slot games releases
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Here are this weeks latest slots releases compiled by European Gaming
Tom Horn Gaming is thrilled to announce the launch of its latest Hold & Win slot game, Majestic Coins. This high-volatility 3×3 slot takes players on a winning quest, where shimmering coins, respins, and grand jackpots lead to massive wins. Set against a sleek black 3×3 reel grid with 5 win lines, Majestic Coins offers classic slot excitement with a modern twist.
Candy Links Bonanza 2 is the newest slot game from Stakelogic, inviting you to wander through magical realms filled with delightfully sweet treats. Amidst this charming backdrop, two 5×5 grids are placed side by side. The grid on the right is where all the gameplay unfolds, while the other grid collects coins. Forming lines of coins wins their values and activates the powerful Wheels of Fortune!
Step into a world where opulence meets nature in Zillion’s latest release, Royal Crown Fruits – a dazzling slot experience filled with vibrant fruit symbols, golden crowns, and thrilling rewards. With 20 winning lines, the game blends classic charm with modern excitement, offering players a chance to strike royal-sized wins.
Big Time Gaming is back with its most exhilarating instalment yet. Max Megaways III invites players to gear up and embark on a high-stakes Arctic mission that’s shaken, stirred, and loaded with epic rewards. In this 6-reel Megaways™ slot, players get up to 117,649 ways to win, and that’s just the start of the action. Armed with MegaDozer™ mechanics, Free Spins, and a treasure trove of bonuses, Max Megaways III is set to deliver edge-of-your-seat excitement like never before.
Play’n GO delves into the mysteries of ancient Egypt with the release of Myth of Dead, a visually stunning slot that combines engaging gameplay with the allure of legendary treasures. This 5-reel, 3-row game with 10 paylines offers a captivating journey into a world ruled by powerful deities and golden riches.
Belatra Games, the specialist online slots developer, has released Blast the Bass, a brand new title that immerses players into an adventure on the open seas. Set out in the deep ocean, Blast the Bass brings together engaging mechanics, big bonus features and fun graphics that entertain players on every spin. A salty old skipper acts as the Wild symbol and will substitute for all regular symbols to combine for winning lines.
Push Gaming has launched Mad Blast, a volatile, multiplier-focused, pay-anywhere game that builds crazy robots along with wild winnings. Set in the workshop of the Mad Tinkerer, quirky, colourful bomb symbols populate the reels, with eight or more required to award a win. Winning symbols are removed from play, and the cascade of replacement icons allows subsequent wins to be formed.
Relax Gaming has revealed Glyph of Gods, an Egyptian-themed slot where hieroglyphs hold the key to wins. Bringing a fresh take on the much-loved Egyptian theme, this game features Glyph Positions which allow for Wild, Bonus, and Glyph symbols to land in dedicated spots, opening up multiple opportunities for big winning moments.
Blueprint Gaming returns in style with Big Catch Even Bigger Bass, offering a plethora of modifiers to maximise players’ winning potential. After years of success with its iconic Fishin’ Frenzy™ series, Blueprint has moved from the ocean to a picturesque lake where a bait box of aquatic symbols take their place on the 6×4, 4,096 win matrix, nestled in a mountainous landscape.
Amusnet announces the exclusive launch of 20 Wild Goals at Betano in Romania from February 20th to March 24th, 2025. 20 Wild Goals is a 5-reel video slot set in a stadium environment, offering 20 paylines. The Wild symbol, represented by a ball, expands to cover the entire reel, boosting the potential for higher wins. The tumbling reel feature adds a layer of excitement by removing winning combinations and increasing multipliers with each subsequent spin.
The post Week 8/2025 slot games releases appeared first on European Gaming Industry News.
Industry News
IGT Achieves Improved ESG Score from FTSE Russell
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International Game Technology PLC announced that it has achieved an environmental, social and governance (ESG) Score of 4.3 out of 5.0 from FTSE Russell, positioning IGT in the 97th percentile within the Travel and Leisure sector of FTSE Russell’s ESG Scores. This was an improvement from IGT’s previous ESG Score of 4.2 out of 5.0 in 2023, demonstrating its ongoing commitment to enhancing ESG performance.
“As a company committed to continually elevating our sustainability practices and leadership, IGT is proud to once again achieve an improved ESG score from FTSE Russell. Through our global Sustainable Play program, we execute sustainable practices and policies throughout our company and this improved score validates our ongoing efforts,” Wendy Montgomery, SVP of Marketing, Communications and Sustainability at IGT, said.
FTSE Russell’s ESG Scores and data model allows investors to understand a company’s exposure to, and management of, ESG issues in multiple dimensions. The ESG Scores are comprises an overall rating that breaks down into underlying pillar and theme exposures. Scores built on over 300 individual indicator assessments are applied to each company’s unique circumstances. The ESG Scores align with the UN Sustainable Development Goals (SDGs), all of which are reflected in FTSE Russell’s ESG framework.
The post IGT Achieves Improved ESG Score from FTSE Russell appeared first on European Gaming Industry News.
Latest News
Playtech’s Bingo Technology Powers Buzz Bingo’s Launch of Innovative Omni-channel Experience
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Playtech announced the launch of Buzz Bingo’s groundbreaking omni-channel bingo game, Big Money Live.
Big Money Live sets a new standard in the bingo proposition by seamlessly combining online and land-based players across all Buzz Bingo clubs into a shared and exciting experience, powered by a low latency video stream with an engaging live presenter.
Officially launched at the end of 2024, Big Money Live debuted with a record-breaking £100,000 prize pool, the largest omni-channel bingo prize in the UK. Players nationwide participated in the exciting new chapter of bingo history, enjoying the game from both the vibrant atmosphere of bingo halls and the comfort of their own homes, showcasing the flexibility of this bingo offering.
Big Money Live is broadcasted from Buzz Bingo’s state-of-the-art studio in Derby and streamed live twice daily, seven days a week. Playtech, in collaboration with its ECM Systems platform, has worked closely with Buzz Bingo to develop a cutting-edge offering that caters to both digital and retail bingo enthusiasts. The seamless delivery of bingo games alongside live video enables entertaining and engaging features to be created around the core games, creating opportunities to attract new and younger audiences to play bingo together online and in-venue.
Marat Koss, VP of Interactive Gaming at Playtech, said: “We are incredibly proud to partner with Buzz Bingo on this project. Big Money Live represents a significant milestone in our ongoing commitment to innovation and excellence in the gaming industry. This collaboration showcases our ability to deliver top-tier technology solutions, such as the ECM handheld machines, that enhance player experiences across multiple channels, including online and retail. We’ve already received great feedback from the industry over this offering and functionality.”
Dave Evans, Chief Product Officer at Buzz Bingo, said: “The launch of Big Money Live marks an exciting new phase for bingo in the UK. Our partnership with Playtech has been instrumental in bringing this vision to life, and we are confident that this game will attract more players and offer bigger prizes than ever before.”
Richard Kearns, Head of Bingo at Buzz Bingo, said: “This new concept is a testament to the hard work and collaboration between our teams and Playtech. We are dedicated to providing innovative and engaging bingo experiences, and Big Money Live is a perfect example of this commitment.”
The post Playtech’s Bingo Technology Powers Buzz Bingo’s Launch of Innovative Omni-channel Experience appeared first on European Gaming Industry News.
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