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Kindred Group completes the acquisition of Relax Gaming

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Kindred Group completes the acquisition of Relax Gaming
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Kindred Group has on 1 October 2021 completed the previously announced acquisition of the remaining outstanding shares in Relax Gaming, a leading and rapidly growing B2B iGaming supplier.

Kindred Group announced on 2 July 2021 that it had entered into an agreement to acquire the remaining 66.6 per cent of the outstanding shares in Relax Gaming. 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. Relax Gaming 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.

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. 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. 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 management team and Board of Directors. Patrik Österåker, the co-founder of Relax Gaming, will remain as the Chairman of the Board. 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 programmes in Relax Gaming have been exercised, and Relax Gaming’s management, who is committed to the future success of the company, retains an ownership of seven per cent of the total fully diluted shares in the company. Kindred’s ownership in Relax Gaming after the transaction is 93 per cent of the total fully diluted shares.

The transaction values the Relax Gaming 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). The initial consideration for the remaining outstanding share of approximately EUR 80 million (on a cash and debt free basis) has been settled in cash. 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.

Africa

TVBET goes live in Africa at eBet through Bitville Gaming

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TVBET goes live in Africa at eBet through Bitville Gaming
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TVBET and Bitville Gaming are now working together, thanks to a recently signed partnership. This new collaboration is a significant step towards the provider’s aim to gain a strong footprint within Africa. B2B provider of live games, and B2B development company Bitville Gaming have united under one goal — to provide the gaming market with the best products and services.

The provider of B2B online streaming games, TVBET, stays strong in pursuing its goals and continues to conclude win-to-win partnerships. This time, the new deal is a collaboration with the B2B development company Bitville Gaming. As part of the deal, a range of TVBET live games is already available at Bitville Gaming’s partner — eBet Swaziland.

eBet Swaziland is an operator offering a wide range of gaming activities. The portfolio of eBet includes betting on sports, like soccer, basketball, boxing, rugby, tennis, etc., virtual sports, a wide range of slots, lotteries, and so on. From now on, eBet players may enjoy TVBET’s chosen live games. The products available at eBet include some of the most popular B2B provider’s games, namely Fruitrace, 1Bet, Lucky6, WheelBet, 5Bet, 7Bet, Keno.

Bitville Gaming is a well-established development company with a highly qualified team of experts. It specializes in creating fixed-odds B2B products for the betting, gaming, and gambling industries. The company’s services also include B2B iframe betting solutions, portal, and free-standing pos wagering solutions, online and SMS wagering solutions, mobile-money wagering solutions, bespoke platform and product development, B2C product development. Originating from South Africa, the company has established itself very well worldwide.

“We believe that the addition of TVBET to our suite of products displays our ongoing commitment to bringing up-to-date, contemporary, and innovative solutions to the African i-Gaming landscape. This is just the beginning of many exciting solutions and products to come!” — says Andrew von Hoesslin, Managing Director of Bitville Gaming.

The partnership promises to be mutually beneficial for all parties. Cooperation between companies will help them strengthen their positions in the betting market and offer their partners new solutions.

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SKS365 welcomes ELK Studios: the international operator signs a partnership for online slots on Planetwin365

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SKS365 welcomes ELK Studios: the international operator signs a partnership for online slots on Planetwin365
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SKS365, the international sports betting and gaming operator ends in glory a year of steady growth for its online casino vertical with another strategic partnership.

The company has signed an agreement with ELK Studios, a Swedish provider specialized in slot machines and online games, which entered the Italian market this year. Thanks to this deal, SKS365 will be offering to its clients the most renowned titles of the provider such as Wild Toro 1 & 2, Katmandu Gold and Nitropolis via the Planetwin365 casino. Further releases such as Book of Toro, Toro 7’s and Stars of Orion are expected soon to be added to the operator’s gaming portfolio.

The extensive portfolio of games, the attention to detail, and the solid mathematical modeling are the strong points of ELK Studios combined with the X-iter mode, which allows players to pick different bonus features for each game, from single bonuses to multiple combinations.

“The titles of ELK Studios are among the best in the world for the quality of their content and the advanced game features and this will allow us to offer an even richer and more engaging gaming experience. We are confident that this new addition will immediately impress our players “, said Troy Cox, Chief Commercial Officer of SKS365.

“We are very excited to grow ELK’s footprint in Italy with such a well known brand as Planetwin365 and look forward to a long and fruitful partnership”, added Martin Lerby, CSO at ELK Studios.

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WSOP Winter Online Circuit Returns To GGPoker

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WSOP Winter Online Circuit Returns To GGPoker
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At least $100,000,000 and 18 WSOP gold rings to be won from December 12 through January 9

GGPoker today launches the WSOP Winter Online Circuit poker tournament series, which runs December 12 through January 9.

This series is made up of 18 headline ring events, each awarding the winning player a coveted WSOP gold ring in addition to the prize money collected, and a full schedule of hundreds of side events and satellite tournaments.

The WSOP Winter Online Circuit series guarantees at least $100,000,000 in cash prizes across the full schedule, with 13 of the ring events boasting tournament guarantees of $1,000,000 or higher.

The series highlights include:

  • BIG 50 MILLION$ – $50 BUY-IN – Sunday, Dec 12 [Final Day] – $1M GTD

  • $400 COLOSSUS – $400 BUY-IN – Sunday, Dec 19 [Final Day] – $2.5M GTD

  • $400 PLOSSUS – $400 BUY-IN – Sunday, Dec 26 [Final Day] – $1M GTD

  • $100 MILLION$ Mini Main Event – $100 BUY-IN – Sunday, Jan 2 [Final Day] – $2M GTD

  • GGMasters HR Freezeout NLH – $1,050 BUY-IN – Sunday, Jan 9 – $1.5M GTD

  • $525 Main Event – $525 BUY-IN – Sunday, Jan 9 [Day 2] – $5M GTD

 

Day 1 flights to the first WSOP ring event, BIG 50 MILLION$, are already running at GGPoker, with satellites starting from $0.50.

“WSOP circuit events are great; they give every player the chance to win a big prize and gold ring, while enjoying a taste of the WSOP experience,” said Daniel Negreanu, GGPoker Global Ambassador. “This time around, there’s also the not-insignificant matter of $100,000,000 in prizes to enjoy as well; it might be getting cold outside, but the action is just heating up at GGPoker!”

Players will receive leaderboard points each time they take part in a ring event or side event, with the top 100 players on the leaderboard sharing $100,000 in prizes upon the conclusion of the series.

Two of the WSOP Winter Online Circuit headline events will be broadcast on GGPoker.TV – the $10,300 Super MILLION$ High Roller will be shown on Tuesday, December 21, while the $525 Main Event $5M GTD event will be showcased on Saturday, January 15.

New GGPoker players are eligible to claim the poker room’s Welcome Bonus, earn even more rewards with the Honeymoon for Newcomers promotion and automatically join GGPoker’s Fish Buffet loyalty program, with regular cash prizes on offer.

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