£175.6m acquisition of 32Red expands Kindred’s multi-brand strategy

first_img StumbleUpon Unibet backs #GoRacingGreen as lead racing charity  July 28, 2020 Share Share Related Articles TVBET passes GLI test for five live games in Malta and Italy August 25, 2020 Submit CT Gaming bolsters Italian profile with The Betting Coach  August 27, 2020 Henrik Tjärnström, CEO of Kindred Group, has said that his firm’s £175.6m acquisition of 32Red is consistent with the firm’s ‘multi-brand strategy and stated desire to grow our business in regulated and soon to be regulated markets’. 32Red will now join Kindred’s stable of brands which includes Unibet, Stan James, Maria Casino and Bingo.com.Commenting on the deal, announced this morning, he added: “32Red is a high quality, customer-focused business with a similar culture to Kindred’s and we are delighted to welcome 32Red and its team into the Kindred Group and look forward to further developing the brand going forward.”Founded in 2002, 32Red is a Gibraltar-based online gaming company, operating online casino, online poker, online bingo and online sports betting under the brands 32Red.com, 32RedPoker.com, 32RedBingo.com and 32RedSport.com. In 2015, 32Red acquired the Roxy Palace online casino business. 32Red is licensed and regulated in Gibraltar, the UK and Italy and is listed on the AIM market of the London Stock Exchange.In the financial year ended 31 December 2015, 32Red generated Net Gaming Revenues of GBP 48.7 million and EBITDA of GBP 5.2 million. On 1 February 2017, 32Red issued a Post Close Trading Update for the year ended 31 December 2016 and announced Net Gaming Revenues of GBP 62.3 million.The 32Red Directors, who have been advised by Numis as to the financial terms of the offer, consider the terms of the cash offer to be fair and reasonable. In providing advice to the 32Red Directors, Numis has taken into account the commercial assessments of the 32Red Directors.The cash consideration payable under the offer will be funded by new acquisition facilities of up to GBP 178 million, specifically for the purposes of this transaction. Kindred Group has received irrevocable undertakings in support of the Offer in relation to an aggregate of 60,701,232 32Red shares, representing approximately 71.1 per cent of the share capital of 32Red.Ed Ware, CEO of 32Red (pictured), said: “We have consistently and profitably grown 32Red’s market share in the regulated markets of the UK and more recently, Italy. The management team at Kindred have a similar business philosophy to our own and we look forward to joining forces with Kindred and continuing our successful growth within the Kindred Group.”last_img read more

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“Classic Movies at the Mansion” Series Announces Summer Line Up

first_imgSubmitted by Washington Historical SocietyWhat better setting for classic cinema than the Lord Mansion, historic site of the State Capital Museum and the “Movies at the Mansion” series, which returns for its 8th season this summer?Presented on Fridays nights in August, each movie is introduced with a short presentation on the historic context of the film. Moviegoers can bring their own chairs or blankets. Candy, soda, and popcorn are available for purchase at the movie, while coffee is free. If it rains, the film will be screened in the Coach House at the museum.“We are proud to host this series every year,” explains Susan Rohrer, manager of the State Capital Museum. “Not only is it fun for staff to invite the local community to this outdoor program, but it allows the museum to connect people with historical events and eras through film.”The selected films are rated PG, under two hours long, and suitable for all audiences.Movies at the Mansion Schedule: Film introduction at 8:45pm, screening begins at 9pm.August 7: “Some Like it Hot”August 14: “East of Eden”August 21: “Sabrina”August 28: Hitchcock’s “Notorious”“Classic Movies at the Mansion” is sponsored by Susan and Patrick Dunn and the Law Offices of Allen T. Miller. Facebook482Tweet0Pin0last_img read more

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Clippers Men’s Basketball Remain Undefeated In NWAC West Region

first_imgFacebook0Tweet0Pin0Submitted by South Puget Sound Community CollegeSPSCC Clipper Men’s Basketball has rolled last season’s success into the 2017-18 season and outlooks are good.The men are currently ranked in first place in the NWAC West Region with a record of 9-0 and ranked number six in the NWAC overall according to the coaches’ poll released on Feb. 6.  The Clippers have led the NWAC in scoring defense since the start of West Region play, allowing 63.9 points per game.  The Clippers have also been fourth in the NWAC this season in rebound margin per game.SPSCC has prevailed with an 18-6 record with a tough schedule that included 14 out of 15 non-conference games on the road.Academically, all four of the team’s sophomore athletes are set to graduate with associate degrees in June and the team stands strong with a team grade point average of 3.06.  Several players are actively being recruited by four-year universities.Sophomore students from the men’s and women’s teams will be celebrated at Sophomore Night on Wednesday, Feb. 28, at home versus the Grays Harbor Chokers.  Women will play at 6:00 p.m. and men will tip off at 8:00 p.m.The next home game for the Clippers is Saturday, Feb. 17 versus Pierce College.  Women will play at 1:00 p.m. followed by the men at 3:00 p.m.The Clippers Men’s Basketball are currently ranked number one in the NWAC West Region. Photo courtesy: SPSCClast_img read more

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