Kindred Group, a company behind several major gambling brands, announced that it has launched a review of strategic alternatives to maximize shareholder value. Its board of directors will now explore approaches that Kindred can take to bolster its business.
The process will see Kindred’s directors evaluate its world-class portfolio of iGaming and online sports betting brands. They will seek to leverage these assets to maximize the value Kindred is generating for its shareholders.
The company announced that the process will see its directors evaluate all possibilities to optimize its value, including M&A activity that might see Kindred merged with or sold to another entity. Other transactions and acquisitions are also possible, the company’s announcement says.
The Company Will Work Alongside Professional Advisors
The review process will not only include Kindred Group’s board of directors. In addition to the directors, Kindred will employ the services of experts such as PJT Partners, Morgan Stanley & Co International and Canaccord Genuity, which will advise it throughout the review. The listed entities will help Kindred discover and evaluate strategic alternatives.
In the meantime, White & Case has been appointed as a legal advisor who will help Kindred pick options that will not be in breach of any rules.
At the time of this writing, there is no official timetable for the completion of Kindred’s strategic review. In addition, Kindred warned that the outcome of the upcoming process is still uncertain and that the company cannot provide any assurance.
Kindred added that, in accordance with the law, it may not make any additional announcements until its strategic review is complete and final decisions are made.
Subject to compliance with its ongoing disclosure obligations pursuant to applicable laws and regulations, Kindred undertakes no obligation to make any further announcements regarding the exploration of strategic alternatives unless and until final decisions are made by the company’s board of directors.
The Company Continues Its Journey Towards Zero
Kindred Group is a leading operator the business of which spans three continents. The company has a presence in Europe, the US and Australia and currently serves more than 30 million customers. Kindred employs over 2,000 employees across its nine gambling brands.
At the same time, Kindred is committed to protecting its customers from gambling harm and addiction. To that end, the company seeks to minimize the revenues it takes from such players and leverages a variety of tools to make that possible.
A few days ago, the group released an update on its Journey Towards Zero.