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01 Mar 2017 By Asin Agrawal

Kindred snaps up 32Red and other Microgaming powered casinos

Over the last few years, we’ve seen several major mergers and acquisitions in the online casino world. From Ladbrokes and Coral’s merger, to the deal between Paddy Power and Betfair, big businesses are joining forces to form super companies. It is the best way to increase what a casino can offer, and to swat away rival competitors. This week, we learned of another new acquisition, after Kindred snapped up leading online casino 32Red.

New Acquisition

32Red is regarded as one of the most popular, and safest online casinos on the net, with a long and proud history in the industry. The casino has pocketed numerous awards over the years, and now they are set to join Kindred’s family, a group which owns Unibet, Maria, and Stan James Casino, for a fairly petite fee of £175.6 million.

32red

Shares Rocket

After the news broke, shares in 32Red went through the roof, being worth 40% more than in the last three months. The move is Kindred’s attempt to have a crack at the UK gambling scene, which Unibet and Stan James Casino have failed to really do of late. Snapping up what is regarded by many as one of the United Kingdom’s leading online casino sites is certainly the way to do that.

More to Get

As well as 32Red, the Kindred group will also be acquiring other major Microgaming powered casinos, which include the world-famous Roxy Palace Casino site. The fall in the value of the pound – courtesy of Brexit – will certainly have helped spur on the Kindred group’s decision to snap up these leading casino domains. It remains to be seen just how long the deal will take go through – we believe it is this week though – and how the acquisition will affect chances at Roxy and 32Red.