Kindred Group’s Game-Changing Partnership with Stats Perform Elevates Sports Betting Experience Ahead of FDJ Acquisition Offer
Kindred Group Expands Partnership with Stats Perform to Enhance Sports Betting Experience
Stockholm, Sweden – Kindred Group has announced the expansion of its strategic partnership with Stats Perform, a move that will significantly enhance the sports betting experience for its customers. Under this agreement, Kindred now has access to the complete suite of products offered by Stats Perform, including the widely recognized RunningBall and Opta services.
Enhanced Access to Real-Time Data
The expanded partnership allows Kindred to utilize a variety of real-time official sports data feeds and statistics. This comprehensive data suite is expected to elevate the user experience on the Kindred Sportsbook platform, which the company claims will lead to a more seamless in-play betting experience.
RunningBall from Stats Perform specializes in delivering official in-play sports data feeds, while the Opta brand focuses on in-depth player statistics across various sports. Such capabilities are integral for sports betting as they provide up-to-date insights that can influence betting decisions.
Commitment to Quality in Sports Betting
Andreas Reimblad, Kindred’s director of sportsbook, expressed his enthusiasm regarding the partnership. “This collaboration is a testament to our unwavering commitment to building the Kindred Sportsbook platform with the best data available on the market,” Reimblad stated. He emphasized that with Stats Perform’s expertise and reliable data, the partnership aims to set new standards in sports betting.
Andrew Ashenden, chief betting officer at Stats Perform, echoed Reimblad’s sentiments. He conveyed excitement about the expanded deal, noting its potential to unlock new value for both organizations. “This new agreement deepens a long-standing and highly productive partnership with Kindred,” Ashenden said. “We are excited to help take Kindred to great heights through our market-leading, built-for-betting RunningBall and Opta products.”
Potential Acquisition by La Française des Jeux
This announcement comes on the heels of news that La Française des Jeux (FDJ), the French national lottery and gaming operator, has made a bid to acquire Kindred for approximately SEK 27.96 billion (£2.10 billion/€2.48 billion/$2.68 billion). Kindred’s board has unanimously recommended that shareholders accept FDJ’s offer, with acceptance starting on or around February 20 and closing on November 19.
Five major shareholders of Kindred, holding a combined 27.9% of shares, have already pledged their support for the offer. However, the completion of the acquisition remains contingent on several conditions, including 90% acceptance from shareholders, necessary regulatory approvals, and the absence of any competing offers.
FDJ has noted that the acquisition could create the second largest operator in Europe’s gaming sector, aiming to forge a “European gaming champion” that promises stronger revenue and earnings growth.
Positive Financial Outlook for Kindred
In conjunction with the partnership news, Kindred Group released a preliminary financial update for the year 2023. The company anticipates a significant increase in revenue, projecting it to reach £1.21 billion, a 13.3% increase from £1.07 billion in 2022. The growth in gross winnings from its B2C segment is expected to rise by 12.4% to £1.17 billion, while B2B revenues are projected to see a remarkable increase of nearly 50%.
Additionally, the anticipated revenue growth has led to increased spending on sales and marketing, with total expenses in this sector rising by 9.5% to £530.7 million. Nevertheless, the company forecasts an underlying EBITDA of £204.5 million, which would reflect a substantial 58.3% increase from the previous year.
Conversely, FDJ has also released a trading update following its acquisition proposal, revealing a 6.5% increase in revenue, reflecting positive developments in its business landscape.
As Kindred Group looks to enhance its betting platform through improved data accessibility and considers the potential of a merger with FDJ, it is poised for significant changes in its operational strategy and market positioning in the gaming industry.