Feb 23 Online gaming company Kindred Group
said on Thursday it was buying gaming firm 32Red
for £176 million ($218.82 million), further strengthening its
position in the online casino market in the United Kingdom.
* Says to make a GBP 175.6 mln recommended cash offer for
* Says cash consideration payable under the offer will be
funded by new acquisition facilities of up to GBP 178 million,
specifically for the purposes of this
* 32Red shareholders will be entitled to receive GBP 1.96
per share and will also be entitled to receive a second interim
dividend of GBP 0.04 per share.
* Says bid together with the approved dividend represents a
premium of approximately 16.3 pct to the closing price per 32Red
share of 172.0 pence on 22 February 2017.
* Says In 2015, 32Red generated Net Gaming Revenues of GBP
48.7 million and EBITDA of GBP 5.2 million.
* Says on 1 February 2017, 32Red issued a Post Close Trading
update for the year ended 31 December 2016 and announced Net
Gaming Revenues of GBP 62.3 million.
* Says 32Red is licensed and regulated in Gibraltar, the UK
and Italy and is listed on the AIM market of the London Stock
* Says 32Red has approximately 125 employees based
* Says completion of the transaction is subject to certain
conditions including customary regulatory approvals by the
relevant gambling authorities.
Source text for Eikon:
($1 = 0.8043 pounds)
(Reporting by Johannes Hellstrom)