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15 Feb 2010 07:00
32Red Plc
("32Red" or "the Company")
Acquisitions
32Red Plc, the award-winning online gaming operator, is pleased to announce today that it has acquired the assets of two European-focused online casinos. The acquisition of the business assets of Nedplay casino (www.nedplay.com) from Floryntia Play Group NV was completed on 21 January 2010 and the acquisition of the assets of Golden Lounge casino (www.goldenlounge.com) from Golden Lounge Limited was completed on 12 February 2010.
The business assets acquired in both cases comprise of the player database, software agreements, the domain names and other intellectual property that were purchased for a nominal consideration. The sole liabilities assumed by 32Red are in respect of player balances and total £115,000.
Commenting on the acquisitions, Ed Ware, CEO of 32Red, said:
"Both deals were compelling and similar in many ways and we expect to be able to integrate both casinos smoothly and quickly into our platform. At this stage, it is too early to assess whether the acquisitions will be earnings enhancing in 2010, but they are a good fit as both casinos have historically focused on European territories away from the UK, whereas 32Red continues to be a UK-centric brand. We will now apply our award-winning levels of player support, operational discipline and marketing to both brands in the coming months, ahead of evaluating the total number of brands operated by 32Red Plc. The sector continues to evolve quickly and 32Red remain committed to capitalising on suitable opportunities that may present themselves. ''
15 February 2010
Enquiries:
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32Red Plc |
Tel: 00 350 200 49396 |
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Ed Ware, CEO |
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Jon Hale, Finance Director |
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Numis Securities Limited |
Tel: +44 (0)20 7260 1000 |
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Chris Wilkinson (Corporate Broking) |
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Michael Meade (Nominated Adviser) |
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College Hill |
Tel: + 44 (0)20 7457 2020 |
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Matthew Smallwood |
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Jamie Ramsay |
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