Kindred Group to buy 32Red

jetset

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Feb 22, 2001
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KINDRED GROUP TO ACQUIRE 32RED GROUP

Former Unibet online gambling group prepared to spend GBP176 million on deal.

The Reuters news agency reported Thursday that the Kindred online gambling group (formerly known as Unibet) has announced its planned acquisition of the 32Red online gambling group for a consideration of GBP 176 million.

The acquisition will further strengthen Kindred's poisition in the UK online gambling market, a statement from the company claimed, advising that Kindred has made a GBP 175.6 million cash offer for 32Red, with the cash funded from new acquisition facilities of up to GBP 178 million, specifically for the purposes of this transaction.

32Red shareholders will be entitled to receive GBP 1.96 per share and will also be entitled to receive a second interim dividend of GBP 0.04 per share, the company advised, noting that the bid, together with the approved dividend represents a premium of approximately 16.3 percent to the closing price per 32Red share of 172 pence on 22 February 2017.

In 2015, 32Red generated Net Gaming Revenues of GBP 48.7 million and EBITDA of GBP 5.2 million. On 1 February 2017, 32Red issued a Post Close Trading update for the year ended 31 December 2016 and announced Net Gaming Revenues of GBP 62.3 million. The company is licensed and regulated in Gibraltar, the UK and Italy and is listed on the AIM market of the London Stock Exchange. It currently boasts 125 employees based in Gibraltar.
 
32Red is reviewed by Casinomeister

conker

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Feb 10, 2012
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Thanks for sharing jetset, this is notable. Sounds very much like a done deal from the press release.
 

naththo

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Jul 24, 2011
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Adelaide, South Australia.
Hrm I am getting worried right now. I am with 32red, a long time customer to them but hearing that thing is getting me worried a lot about possibility of major negativity toward 32red in the future. Partnership can be a very dangerous game. I hope it is going smooth as sailing on mirror water. Good luck to 32red!
 

AnnaTS

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Apr 2, 2015
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England
If they do aquire 32 Red we could see them go multi platform, This is one of the reasons i don't play there much but if they go multi platform i would play there more often.
 

maxd

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Saltirelandia
Hrm I am getting worried right now. ...

I've heard from the 32Red casino management this morning that it's "business as usual". Knowing the guys as we do I think players remain in good hands, as we've come to expect from 32Red.
 

brianmon

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So 32red players could end up with Unibet-speed cash outs? Possible great news! :thumbsup: :D

They'll probably just be run as separate entities. It's not like 32Red changed anything when they took over Roxy, they didn't even bring the WR in line (50xB Vs 30xB).
So I'd say Unibet will just leave 32Red as is
 

plasticnote

Senior Member
Joined
Sep 4, 2010
Location
Australia
that means the end of our Aussie players ...

so many years and come to this...

unibet runs sports betting in Australia, so no Aussies casino players accepted...
 

Casinomeister

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If they do aquire 32 Red we could see them go multi platform, This is one of the reasons i don't play there much but if they go multi platform i would play there more often.

LOL - that's one of the reason I play there.

Downloadable MGS software is the best overall for Video Poker. If they bail on that and get the ultra-look-at-all-dem-slots packages, that will be a bummer for me. :D

But yeah, too early to try and figure out what they are up to. Patience - and I'll await further info fro the 32Red gang.

Post script: If they maintain their staff and switch to speedy payouts, well...that would be awesome.
 

KasinoKing

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Downloadable MGS software is the best overall for Video Poker. If they bail on that and get the ultra-look-at-all-dem-slots packages, that will be a bummer for me. :D
I've heard that the Viper client is all set for retirement in the not-to-distant future - at ALL Microgaming casinos.
I suppose this "progress" is inevitable - but for me personally it will be a VERY sad day when the last Viper disappears... :sob:

On the subject of retirement: Congratulations and good luck to all the founders of 32Red :thumbsup:

KK
 

osulle

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LOL - that's one of the reason I play there.

Downloadable MGS software is the best overall for Video Poker. If they bail on that and get the ultra-look-at-all-dem-slots packages, that will be a bummer for me. :D

But yeah, too early to try and figure out what they are up to. Patience - and I'll await further info fro the 32Red gang.

Post script: If they maintain their staff and switch to speedy payouts, well...that would be awesome.

If they do that then they will go to the top of the pile again as far as I am concerned.
 

Jono777

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I've heard that the Viper client is all set for retirement in the not-to-distant future - at ALL Microgaming casinos.
I suppose this "progress" is inevitable - but for me personally it will be a VERY sad day when the last Viper disappears... :sob:

Indeed, Not something I wanted to read, its where I started this very bumpy ongoing journey :)
 

Nicola

Closed Account
Joined
Jan 22, 2013
Location
Malta
Fantastic news (from a shareholder point of view) having held these for 10 years and topping up regularly in recent weeks.

I hope this results in positive changes for players because 32Red doesn't feel like it has moved for two decades in terms of game choice.
 
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