Recent work | July 2, 2021

Roschier advises the shareholders in the sale of Relax Gaming to Kindred Group

The shareholders of Relax Gaming have agreed to sell the shares in the company to Kindred Group, at an implied valuation of up to EUR 320 million for 100 percent of the shares on a cash free and debt free basis. Roschier represents the shareholders of Relax Gaming in the transaction.

Founded in Finland in 2010, Relax Gaming is a market leading B2B iGaming software supplier that designs and develops online casino games, supported by an open distribution platform for third party aggregation as well as proprietary poker and bingo products. The company has approximately 240 full-time employees with four main hubs in Malta, Estonia, Sweden and Serbia.

Tero and the entire Roschier team have been really great to work with. To the point, on time and always relevant advice, which was really valuable given the complexity of the deal we wanted to achieve.


Online gaming operator Kindred Group Ltd is listed on Nasdaq Stockholm. Kindred has been invested in Relax Gaming since 2013 and was prior to the transaction the largest owner with 33.4 per cent of the outstanding shares. The transaction is conditional on customary regulatory approvals and is expected to be completed in the fourth quarter of 2021.

Roschier’s core advisory team comprises Tero Jormanainen, Mikko Manner, Jenni Rosenlöf and Sara Karhu.