Home / News / CMS advises 32Red plc on its sale to online gaming...

CMS advises 32Red plc on its sale to online gaming company Kindred Group plc

12 June 2017

CMS has advised AIM-listed online gaming company, 32Red, on its acquisition by Kindred Group, one of the largest online gambling companies in the world, in a deal valued at £175.6 million. The transaction was announced on 23 February 2017 and declared unconditional in all respects on 6 June 2017.

Founded in 2002, 32Red is based in Gibraltar and operates 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. Kindred is one of the largest online gambling companies in the world and listed on the Nasdaq Stockholm Large Cap List with a market capitalisation of approximately £1.9 billion. Kindred is headquartered in Malta and offers pre-game and live sports betting, poker, casinos, and games through several subsidiaries and brands including Unibet, Stan James, Maria Casino, iGame, and Bingo.com.

The CMS team was led by Corporate Partner Rob Willis, assisted by Tom Jameson and Tim Watkins (corporate); Andy Quayle and Cathy Merry (Share Schemes); David Zeffman and Anna Soilleux-Mills (Gambling Regulatory); and Ruth Marken (Finance).