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Connecticut Lottery Initiates Bidding for New Sports Betting Partnership

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The Connecticut Lottery Corporation has released a formal Request for Proposals (RFP) as part of the process to select a new sports betting partner. The winning bidder will be granted a license for an initial term of eight years.

Following the mutual decision to end its partnership with Rush Street Gaming, the Connecticut Lottery Corporation has initiated a Request for Proposals (RFP) as part of the bidding process to select a new sports betting partner. The winning bidder is expected to provide a comprehensive sports betting platform for both online and retail sportsbooks in Connecticut, as well as develop a new daily fantasy sports platform.

The selected proposal will enter into an initial eight-year agreement, with the potential for a five-year extension, totalling 13 years of partnership with the Connecticut Lottery. This presents a significant opportunity for interested parties to establish a long-term presence in the state’s growing sports betting and daily fantasy sports markets.

As outlined in the 38-page Request for Proposals (RFP), the Connecticut Lottery Corporation has emphasised the need for a seamless transition of the online channel from the current Operator to the Successful Proposer. The winning proposal must include a collaborative plan to import all player data into the new system, as well as a comprehensive messaging and marketing strategy to address the transition period.

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Furthermore, the selected proposal should incorporate a two-year marketing plan to promote the sports betting offerings, showcasing the bidder’s ability to drive customer engagement and maximize market potential. Additionally, the winning proposal must also outline provisions to continue the lottery’s existing retail sports betting operations, which includes the operation of 10 retail betting locations equipped with self-service terminals.

Overall, the Connecticut Lottery Corporation is seeking a comprehensive proposal that not only addresses the technical aspects of the transition but also demonstrates a strategic marketing approach and commitment to continuing and enhancing the lottery’s retail sports betting operations.

The Connecticut Lottery Corporation has commenced the bidding process, effective immediately. Meetings between lottery officials and interested bidding companies are scheduled to take place from April 17 to 21. Written requests for clarifications must be submitted by April 24, with the lottery corporation planning to provide written responses on a rolling basis by May 1.

Final submissions from bidders are required to be submitted by May 19. The lottery has allocated nearly two months for thorough proposal review, with plans to issue a preliminary notice of award by June 14. This timeline underscores the lottery’s commitment to a diligent and transparent evaluation process to select the most qualified sports betting partner for the state of Connecticut.

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Jerome, a valuable addition to the Gamingo.News team, brings with him extensive journalistic experience in the iGaming sector. His interest in the industry was sparked during his college years when he participated in local poker tournaments, eventually leading to his exposure to the burgeoning world of online poker and casino rooms. Jerome now utilizes his accumulated knowledge to fuel his passion for journalism, providing the team with the latest online scoops.

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FDJ’s Acquisition of Kindred Group Shaping the Future of Global Gaming

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FDJ’s acquisition of Kindred Group, facilitated by regulatory approval and strategic shareholder engagement, signifies a transformative moment in the gaming industry. This deal exemplifies the intricate balance between regulatory compliance, shareholder value, and strategic growth ambitions. As the industry stands at the cusp of further consolidation and innovation, the FDJ-Kindred transaction heralds a new era of strategic realignment and competitive positioning in the global gaming landscape.


A Monumental Shift in Gaming Dynamics

The Swedish Financial Market Supervisory Authority (SFSA)‘s approval of Française des Jeux’s (FDJ) offer to acquire Kindred Group marks a pivotal moment in the global gaming and betting sector. This green light not only accelerates FDJ’s strategic expansion but also underscores the evolving landscape of international gaming regulations and corporate alignments.

Navigating Regulatory Waters

The SFSA’s endorsement is a crucial step in FDJ’s ambitious acquisition plan, setting the stage for a public offer slated to commence imminently. This regulatory approval highlights the meticulous scrutiny and compliance standards governing mergers and acquisitions within the sector, ensuring that such transactions align with market stability and shareholder interests.

A Call to Action for Kindred Shareholders

The forthcoming Extraordinary General Meeting (EGM) represents a critical juncture for Kindred Group, with proposed statutory amendments necessary for facilitating the acquisition. This meeting, aimed at achieving the requisite shareholder consensus, signals the importance of shareholder engagement in steering corporate direction and strategy.

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The Path to Acquisition: Shareholder Conviction and Strategic Vision

FDJ’s pursuit of Kindred Group, contingent upon securing 90% of total capital, reflects a strategic maneuver to consolidate its position in the global gaming market. The offer per share, valuing Kindred at approximately €2.6 billion, has garnered unanimous board endorsement and significant shareholder backing, illustrating the alignment of strategic interests and the perceived value of this consolidation.

Activist Influence and Strategic Realignment

The role of activist shareholders, notably Corvex Management, in advocating for Kindred’s sale underscores the dynamic interplay between corporate governance and shareholder activism. Their successful campaign for board representation and strategic evaluation reflects a broader trend of active investor engagement in shaping corporate trajectories.

Implications for the Global Gaming Industry

This acquisition not only exemplifies the financial and strategic considerations underpinning such deals but also highlights the regulatory complexities and shareholder dynamics involved. As the gaming industry continues to evolve, driven by technological advancements and regulatory changes, the FDJ-Kindred merger serves as a case study in strategic growth, market consolidation, and the pursuit of competitive advantage.

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