Unsurprisingly, he used his industry experience to build brands that focused on the UK market.Īfter taking its first online casino bet in July 2002, 32Red grew to add online poker, sports betting and bingo. Ladbrokes Managing Director Ed Ware founded 32Red. 32Red is a high quality, customer-focused business with a similar culture to Kindred Group’s and we are delighted to welcome 32Red and its team into the Kindred family and look forward to further developing the brand going forward.” 32Red offers more UK market share for Kindred “The acquisition of 32Red is consistent with our multi-brand strategy and stated desire to grow our business in locally regulated and soon to be regulated markets. When he launched the offer, Kindred CEO Henrik Tjärnström explained: That plus the approval gained on March 23 from the gambling regulator in Gibraltar is sufficient to make the deal “unconditional.” Kindred launched its bid on Feb. 23 and has now received acceptances from over 50 percent of AIM listed 32Red’s shareholders. But this deal is a reminder that further down the scale, consolidation in the online gambling industry continues. Most attention goes to the big multi-billion dollar deals that often fail to come off. Unibet owner, The Kindred Group, finally completed its £176.5 million ($218.3 million) takeover of Gibraltar-based 32Red.
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