32Red Plc Acquires Two European Casinos

Thursday February 18, 2010

32Red Plc has acquired the assets of two European-focused online casinos - Nedplay Casino, from Floryntia Play Group, and Golden Lounge Casino from Golden Lounge Limited.

In both cases 32Red Plc acquired the player database, software agreements, domain names and other intellectual property for a nominal consideration.

The sole liabilities assumed by 32Red are in respect of player balances, totalling 0.115m.

CEO Ed Ware said 32Red Plc expected to be able to integrate both casinos smoothly and quickly into its platform. Both casinos had focused on European territories away from the UK, whereas 32Red continued to be a UK-centric brand.

It was too early to assess whether the acquisitions would be earnings enhancing in 2010.