Kindred Will Purchase 32Red for £175.6 Million

This story was published more than 7 years ago.

Internet betting firm Kindred has announced that they've struck an agreement with 32Red, and will purchase the casino operator for £175.6 million.

The agreement will give Kindred an important foothold in the UK betting market, as 32Red has a long history in the country. The deal will see 32Red stockholders receiving a price of £1.96 per share, while also getting an interim dividend of £0.04 per share. That price is 16.3% higher than the closing price of £1.72 as of February 22nd.

Kindred was known as Unibet until last year when they opted to change their name in order to broaden their brand. Purchasing 32Red no doubt continues that strategy, as it gives them an iconic UK online brand moving forward.

The deal will be subject to shareholder approval, and we'll update this story as the deal progresses.

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About the author

Dustin Jermalowicz // News Editor
Dustin Jermalowicz
Dustin has a long-standing passion for gambling. He has been writing professionally on the subject and breaking industry news for Casino Listings since 2011. His favorite casino games include Blackjack, Poker, and Hi/Lo. A proud native of Detroit, Dustin currently lives in Michigan.
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krcoolsongss
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6 March 2017 - 9:49am
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As I remember, Unibet acquired iGame casino last year, and now they are expanding by adding an old and trusted casino. Good News 🙂