French national lottery operator FDJ United has initiated further corporate restructuring following its acquisition of Swedish betting group Kindred in October last year.
The takeover of Kindred marked a significant expansion for FDJ, significantly enlarging its sports betting division and reach in the European online wagering sector. It has also significantly enlarged its number of employees, the company said.
In response to this, the company has launched an employee share ownership programme amounting to a maximum of 1% of its total share capital, equating to 1,852,700 shares. This will enable up to 5,000 eligible employees to hold a stake in the company.
As it stands, 3.4% of FDJ United’s shares are held by employees, with the remaining shares divided between the French government, charitable organisations and private companies. The firm’s shares are listed on the Paris Euronext.
“Having acquired Kindred in October 2024 and welcomed nearly 2,500 new employees marked the beginning of a new chapter in the Group’s history,” said FDJ United’s Stéphane Pallez, Chairwoman and CEO.
“Now more international and more diversified, FDJ United is pursuing a growth trajectory in which employees will play a key role. This employee share ownership programme, available in 13 countries, is in keeping with our proud tradition of value-sharing.”
The share offer is the latest restructuring FDJ United has undertaken since acquiring Kindred late last year. The firm first secured terms to buyout the Swedish betting firm, which operates the Unibet sportsbook and 32red casino brands, in January 2024 for a total consideration of €2.45bn.
Following completion of the takeover in October and the subsequent integration of Kindred’s platforms, FDJ undertook its first business model change – a rebranding from Française des Jeux to its current name of FDJ United.
The share programme shows continuing adjustments at FDJ following the Kindred takeover, though the expansion of its online betting offering has not been entirely smooth according to its latest financial report.