The UK online gambling group, 32Red.com, which is listed on the London Stock Exchange, has confirmed that it purchased the popular Roxy Palace online casino.
The group said that in return for £8.4 million, it has taken over ownership of Roxy Palace Casino's 230,000 player database. It will also acquire the intellectual property rights and other assets linked to Roxy Palace Casino.
Roxy Palace Casino, as is 32Red.com's online casino arm, 32Red Casino, is powered by Microgaming.
32Red.com will pay £2 million in cash, and will also issue 10 million new ordinary shares to make up the difference.
Roxy Palace Casino has been part of the online gambling industry since 2002 and has built an excellent name for itself in the business. It carries over 500 of Microgaming's top games, including progressive slots, classic slots, table games and more.
Common Values Between Casinos
"We are delighted to have acquired Roxy Palace and we believe this is very beneficial for both our existing and new shareholders," said the chief executive officer of 32Red.com, Ed Ware. "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," he added. "To that end we will continue to support the Roxy Palace brand along with maximizing synergies where appropriate."
About Roxy Palace Casino
Roxy Palace Casino is an excellent asset for 32Red and a welcome addition to its brand portfolio.
The site offers all new players a £350 welcome bonus over their first two deposits.
The first deposit is a 100% bonus up to £150, while the second deposit is a 25% match deposit bonus up to £200.
Roxy Palace Casino's platform includes a desktop casino, live casino and mobile casino so that players can enjoy a multitude of games wherever they may be.
Roxy Palace Casino runs regular promotions and bonuses, and updates its games lobby practically every month with new Microgaming titles.