FDJ Makes Takeover Bid for Kindred Following Strong Q4 Results

Kindred Group, a leading global online gambling operator, has released a new report detailing its performance for the fourth quarter and full year of 2023. According to the preliminary financial report, the company’s revenue for Q4 2023 reached £312.9 million ($398 million), marking a 2% increase from the same period in 2022. Additionally, Kindred posted underlying EBITDA of £56.8 million ($72.2 million) for Q4 2023, an increase from the previous year.

Looking at the full year performance, Kindred reported a total revenue of £1.21 billion ($1.54 billion) for 2023, showing growth from the previous year. It’s important to note that these figures are preliminary and have yet to undergo audit. The company plans to release its year-end report on February 7.

Kindred attributed its strong performance in Q4 2023 to growth in key markets and the success of Relax Gaming, which demonstrated a scalable business model. The company’s casino and games’ gross winnings revenue increased by 5% in Q4 2023 compared to the prior year.

Despite facing regulatory changes in Norway and Belgium, Kindred experienced significant growth in its casino segment in markets such as Romania, the Netherlands, and the UK.

The release of Kindred’s preliminary results came alongside the announcement of a major acquisition. La Française des Jeux (FDJ), the leading lottery and sports betting operator in France, revealed plans to acquire Kindred in a deal worth $2.5 billion.

Overall, Kindred Group remains optimistic about its performance and the potential for growth, citing strong performance in key markets and the scalability of its business model.