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32Red Buys Roxy Palace

32Red Buys Roxy Palace

Written by: Emilija Zivulovic on 14/07/2015 09:20
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Shares of 32Red went up after the online gaming operator announced that it has acquired the remote online gaming business known as Roxy Palace. The completion of the deal was announced this morning revealing a hefty sum of £8.4million which will gain 32Red the ownership of a database of 230,000 players and more than 500 online casino games from Microgaming.

Roxy Palace Casino’s customer database, intellectual property rights and certain other assets used in connection with the Business were purchased for 2 million pounds in cash and the issuance of 10 million new Ordinary Shares with a 12 month lock in, payable by the end of 2016. The deal will cement 32Red’s place in the UK market and help it expand further in Europe.

Ed Ware, CEO, 32Red Plc, said, "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. To that end we will continue to support the Roxy Palace brand along with maximizing synergies where appropriate."

 

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