“We are ready with a few aspects of the application and planning to be ready with most of them by November 1. We are also working on getting our systems fully compliant and ready to go live as soon as possible, but we also have the cooling-off period to consider. “Our licence application has been worked on for a long time and we passed all required audits. As a consequence, we are not actively targeting Dutch customers. nl web address, no Dutch marketing, no Dutch payment solutions. We have been compliant with the criteria no. “It’s been part of the regulatory developments that it’s fine for operators who have not been actively targeting Dutch customers to get a licence and operate in the Dutch market. In a letter the Minster sent on 20 September, it states clearly that there shouldn’t be a connection between having Dutch customers passively and the licensing process. We’ve not been actively targeting the Dutch market – the 2019 fine was a voluntary payment. It plans to apply for a Dutch licence after November 1 when the cooling-off period passes for operators active in the unlicensed market.ĬEO Henrik Tjärnström said: “We’ve taken steps to temporarily cease our activities due to formative changes which created uncertainty in the market. Kindred said the decision would cost it £12m per month in lost earnings. Several major operators have made similar decisions. Meanwhile, Kindred has announced that it has begun to block players in the Netherlands as it plans to apply for a licence to operate in the country’s new regulated market. It said the deal valued Relax Gaming at €320m. Kindred said it expected to save €8m per year in the first three years through synergies. Relax Gaming will remain an independent subsidiary of Kindred, with its founder Patrik Österåker as chairman. Kindred’s board said: “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 group took control of a third of the company’s shares in 2013 and announced this past July that it would buy the company outright.Īfter an initial payment of €80m, it will pay earn-out payments capped at €113m in 20 subject to Relax Gaming meeting earnings targets. Sweden.- Kindred Group has completed its €295m acquisition of the remaining 66.6 per cent of B2B supplier Relax Gaming. Kindred Group has acquired the remaining 66.6 per cent of the B2B supplier.
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