Shares mag12 May 2016 21:59
Online casino 32Red (TTR:AIM) is on the acquisition trail after snapping up Roxy Palace for £8.4 million in June 2015. The stock soared 202.6% in 2015 but has fallen in recent months as investors take profits.
32Red will be affected by the Remote Gaming Duty when it comes into force on 1 August 2017. It has already struggled to mitigate the Point of Consumption Tax, with pre-tax profit plunging from £3.4 million to £1.1 million last year. The key share price catalyst will be further acquisitions.