32Red takes over Roxy Palace
Online operator 32Red has acquired remote online gaming business Roxy Palace in an £8.4m deal.
The purchase is comprised of £2m in cash and the issuance of 10 million new shares of 0.02p each, and gives 32Red ownership of a 230,000-strong registered player database and an archive of more than 500 online casino games.
Roxy Palace reported net gaming revenue of £10.1m and gross profit of £3.4m for 2014.
AIM-listed 32Red has been involved in a number of high profile commercial deals over the years, notably its sponsorship of Premier League football sides Aston Villa and Swansea City.
The company also acquired the UK customer database of Go Wild Casino in September 2014.
CEO of 32Red Plc, Ed Ware, said: “We are delighted to have acquired Roxy Palace and we believe this is very beneficial for both our existing and new shareholders.
“We have known and respected the business for many years, and share a number of common values.
“Like 32Red, Roxy Palace is also based on the Microgaming platform which will aid in making for a smooth integration.
“This acquisition fits well with our regulated markets growth strategy and will allow us to leverage the expertise that the Roxy Palace team has built up over many years in international markets to the combined benefit of the enlarged business.”
32Red also confirmed the release of its half-year trading update on 22 July 2015.
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