It was announced this week that the Swedish online gaming company, Kindred Group has agreed to pay GBP 175.6 million to buy out 32Red Plc, the online gaming company that is parent company to the industry award winning, Microgaming powered online casino, 32Red Casino.
Under the terms of the new deal, Kindred Group will pay shareholders an impressive 196 p for each share. 32Red Plc will pay its shareholders a second interim dividend of 4 p per share.
As a result of the latest deal, shares in 32Red climbed significantly on the London Stock Exchange.
The chief executive officer of 32Red, Ed Ware spoke about the successful acquisition deal, due in part to the excellent performance of 32Red Casino.
“We have consistently and profitably grown 32Red’s market share in the regulated markets of the UK and more recently, Italy,” he said.
“The management team at Kindred have a similar business philosophy to our own and we look forward to joining forces with Kindred and continuing our successful growth within the Kindred group.”
The Malta-based Kindred Group, formerly Unibet Group, is considered one of the largest gaming companies in the world, with over 15 million players from all over the globe. Its portfolio includes platforms such as Bingo.com, Stan James and Unibet. Kindred Group’s largest markets are Europe and Australia, and its latest acquisition of 32Red Plc will definitely bring huge value to its already impressive portfolio.