Kindred Group to buy 32Red

[jetset]

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.

 

[maxd]

Now THAT is some serious news!

 

[conker]

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

 

[maxd]

FYI:

View attachment 633476.pdf

 

[naththo]

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]

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]

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.

 

[dunover]

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

 

[brianmon]

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

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

 

[The Viking]

or bad if they change to Unibet rules, they dont wont us her at the Faroe Islands

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

 

[Webzcas]

Amazing News. Congrats to Ed, Pat, Graham, John et al.

 

[Slotster!]

I did wonder what was happening with the share price. Amazing news. Drinks are on Ed!

 

[plasticnote]

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...

 

[Jono777]

Lets not jump to any conclusions until we know some facts!

Lot of water to run under the bridge yet.

 

[Casinomeister]

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.

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]

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.

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

KK

 

[Dinahnana]

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.

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]

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

 

[Simmo!]

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

Ditto that. Hope they keep if only for the slot tournies.

I did wonder what was happening with the share price. Amazing news. Drinks are on Ed!

Wb mate - long time no see

 

[Nicola]

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.

 

[lockinlove]

you guys think bonuses are scarce with 32red, just wait if unibet takes over then you will have something to complain about in that regards.

 

[sapit222]

I think it will be much better with Unibet taking over 32Red.

 

[09237653]

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

KK

Possible that the viper client is retiring to be replaced with a whole brand new new client? (wishful thinking)
more likely the desktop market is such a small piece of the pie these days it makes sense to ditch it and focus on mobile casinos and web based ones which are more multi platform compatible and more importantly more potential customers.

 

[PaaskeDenmark]

I hope they will keep the downloadable microgaming client and then integrate multislots on website that would be awesome surely that should be possible. So keep microgaming flash slots then add bunch other providers.

Was actually what I though 32Red would had done years ago but disappointed not happened, so I have only done couple deposits since 2 years ago i hit my nice poker jackpot which I will always be forever grateful for.

32Red is after all the casino i have been almost longest with, and they have done so many great customer service things for me through the years, this include one of the best if not the best Rep in Mark. Wish you all the best Mark in future no matter what happens. :notworthy

Let us now wait and see as nothing finalized yet

 

[Valhalla]

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

It's quite literally the only thing "wrong" with 32Red. If they did a soft relaunch with new payments processing akin to the good 'ol days this place would go into meltdown. In a good way