32Red Casino signs deal with KindredEarlier this week Unibet operator, Kindred reached an agreement with 32Red Casino to acquire the online gaming operator for £175.6 million. 32Red’s directors ensure a smooth takeover as they will unitedly recommend that the bid should be accepted seeing as it is “fair and reasonable”.

"The recommended cash offer to acquire the entire share capital of 32Red was set up in such a way that all parties involved with the company will be satisfied."

The offer is valued at 196p per share and shareholders will also receive a second interim dividend of 4p per share on the 23rd of March. Based on the closing share price of the online casino, the offer represents a premium of 16.3%.

Market growth

According to Chief Executive, Ed Ware 32Red’s market share has grown profitably and consistently in the UK’s regulated markets as well as in Italy more recently. Ware continued to say that Kindred’s business philosophy is similar to their own and they are pleased to join forces with Kindred and continue their growth successfully as part of the Kindred Group.

Henrik Tjärnström, Chief Executive of Kindred (formerly known as the Unibet Group), said that the acquisition is consistent with their multi-brand strategy and desire to grow their business in regulated and soon to be regulated markets. He also expressed their delight at having a high-quality, customer-focused business with a similar culture join their team.