Unibet Ceases from Bulgarian Market? Affiliates Accounts Suspended
It appears that Kindred is taking another step towards finalizing the acquisition deal with FDJ. Affiliates from Bulgaria report that their accounts have been suspended, and communication with the company has recently become difficult.
Kindred Cease its Operations in Bulgaria?
In January, the French company FDJ announced that it had reached an agreement to acquire the Kindred Group. This significant deal obliged Kindred to withdraw all of its brands from unregulated operations in various markets. As the date of the planned acquisition finalization approaches, Kindred is gradually closing its operations in other countries.
The founder of a Bulgarian affiliate company recently reported that its affiliate account with Unibet, one of Kindred’s betting brands, was closed without prior warning. The founder also mentioned that it has been difficult to communicate with Unibet representatives to understand the reasons behind the account’s closure.
Unibet stated that the suspension is “Due to internal regulations and market closure policies, which are designed to ensure compliance and maintain the integrity of operations.” This suggests that the company is changing its policy towards markets where it has been operating without a license.
Kindred’s Shift on Unregulated Operations
FDJ (Française des Jeux), a French gaming operator stepped up its game in the international arena. The company has agreed to acquire Kindred to expand its market share and further diversify its portfolio.
The offer, priced at SEK 130 per share, valued Kindred at an impressive €2.6 billion – a 24% premium over Kindred’s closing price on January 19, 2024, and is 35% higher than the average price of the last 30 trading days.
The agreement also stipulated the cessation of all unregulated operations by Kindred brands in offshore markets. It seems that the company is now taking more decisive steps towards integrity and compliance, and its business partners and stakeholders should be prepared for this shift.
