32Red PLC, the company behind 32Red Casino, has announced this morning that it has acquired Roxy Palace Casino for a total consideration of £8.4 million.
The deal comprises of £2 million in cash and the issuance of 10,000,000 new Ordinary Shares. The agreement sees 32Red purchase the entire customer database, the intellectual property rights and other assets connected to the Eucalyptus Investment Limited company (which is wholly owned by Hyperlink Media Limited and Applied Logics Limited.
Roxy Palace Casino was formed in 2002 and is a Microgaming-powered casino with over 500 casino games with slots, blackjack, video poker and roulette. According to today’s press release, they have 230,000 registered players and have a Net Gaming Revenue of £10.1 million and Gross Profit of £3.4 million for the year ended 31st of December 2014. After costs, taxes etc, the profit was £1.6 million.
Speaking on the acquisition of Roxy Palace, Ed Ware (who is the 32Red PLC CEO) commented:
“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. To that end we will continue to support the Roxy Palace brand along with maximizing synergies where appropriate.”
I am pretty sure Roxy Palace will continue to operate as an online casino but with 32Red’s guidance and expertise behind it. There’s been no comment about any changes for now from an operational point of view. Anyway, if you join Roxy Palace Casino, you will receive an exclusive offer.
This consists of 60 Free Spins on Game of Thrones and a 100% welcome bonus up to £100. Deposit from £20 to £100 to get a 100% match (i.e. deposit £100, get £100 free) and then you will get 60 free spins on the popular Microgaming slot – these free spins are added to your account within an hour of your deposit and are worth a total of £18!