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32Red agree deal to buy Roxy Palace Casino and further their gaming portfolio

Gibraltar-licensed operator 32Red has completed the acquisition of Roxy Palace casino for a sum of £8.4 million – equal to €11.8 or $13m.

The deal will include a database of 230,000 registered players and over 500 casino games available through the Microgaming network such as the Transylvanian-inspired Immortal Romance slot and the legendary Thunderstruck. Roxy Palace currently holds a gaming license in both Malta and the UK.

Roxy Palace’s turnover for 2014 was £10.1m with a total gross profit of £3.4m and EBITDA of £1.6m.

32Red chief executive Ed Ware commented: “We are delighted to have acquired Roxy Palace and we believe this is very beneficial for both our existing and new shareholders. We have known and respected the business for many years, and share a number of common values. Like 32Red, Roxy Palace is also based on the Microgaming platform which will aid in making for a smooth integration.

“This acquisition fits well with our regulated markets growth strategy and will allow us to leverage the expertise that the Roxy Palace team has built up over many years in international markets to the combined benefit of the enlarged business. To that end we will continue to support the Roxy Palace brand along with maximizing synergies where appropriate.”

32Red already owns several casinos that provide Microgaming slots, so the purchase of Roxy Palace makes a lot of sense for UK-listed company.