Kindred Group is preparing for the acquisition of 32Red, as part of their expansion plans on locally regulated and soon to be regulated markets.
On February 23rd, Kindred Group and 32Red announced that they have reached an agreement about the recommended cash offer Kindred Group will make for 32Red. The acquisition is in line with Kindred Group’s expansion plans and multi-brand strategy. 32Red Shareholders will receive GBP 1,96 per share and a second interim of GBP 0,04 per share if the relevant gambling authorities approve the completion of the acquisition. The casino, sportsbook, and bingo operator with licenses in the UK, Italy, and Gibraltar generated GBP 62,3 million Net Gaming Revenues in the financial year ended 31 December, 2016. “We are delighted to welcome 32Red and its team into the Kindred family and look forward to further developing the brand going forward,” commented Henrik Tjärnström, CEO of Kindred Group. Kindred Group’s portfolio includes Maria Casino and Unibet.