La Française des Jeux (FDJ) has successfully completed its acquisition of the Stockholm-listed Kindred Group, and is officially the biggest gambling company in Europe.
The deal was announced on October 2nd, and has now been rubber-stamped, with FDJ taking more than 90% of the capital in Kindred Group PLC. FDJ bid was worth more than £2 billion and has sent shockwaves through the industry. Now the French owner of the national lottery in France and Ireland has taken the reigns of Unibet, 32Red and Bingo.com.
In the process, since Flutter Entertainment moved to the New York Stock Exchange, FDJ has officially become the highest value company in the European igaming scene. The move takes FDJ into the UK, Sweden, the Netherlands, Denmark and Belgium.
FDJ Chairwoman and CEO Stéphane Pallez said: “This €2.5 billion (£2 billion) transaction creates a European champion with a diversified and balanced profile, based on monopoly activities like lotteries in France and Ireland, and online sports betting and gaming in open competition across Europe.”
Will the players at Unibet and 32Red feel any difference? Probably not in the short term, but we expect to see some changes on the platforms in the months and years ahead as FDJ flexes its newfound muscle in the igaming sector.