32Red Pays £8.4 Million For Roxy Palace
22 July 2015
In the United Kingdom online gambling scene, it's hard to find a group more reputable with a longer history than 32Red. Their 32Red Casino is known for being one of the most trustworthy online casinos of the past decade, so when they make a major business move, people really sit back and take notice. This is the case with their most recent purchase, which could mix things up a little in the United Kingdom online gambling scene.
The Roxy Palace Purchase
Roxy Palace was purchased by 32Red for £8.4 million recently. This includes a £2 million cash payment in addition to 10 million new shares. This purchase includes Roxy Palace's database of players, all of their intellectual property and a number of other assets associated with the brand. Players aren't expected to get any sort of interruption in service, though people who are familiar with 32Red as a brand wouldn't expect anything less: They have won a ton of awards over several years for taking great care of their players.
The UK Online Gambling Scene
Over the past couple of years, the United Kingdom saw a number of big changes in how it handles online gambling. They changed the tax structure, increasing taxes in some areas, and really made a license to operate an online gambling site in the UK mean something. 32Red jumped on this opportunity in part because it meant that they got another great chance to prove their legitimacy, but it also meant that a number of smaller chains weren't going to be able to continue offering their services in the United Kingdom. A number of these smaller companies were absorbed by larger ones, and it seems like there's a good chance that this is what's happened with Roxy Palace.
About 32Red Casino
32Red Casino has been operating since 2002, and this gives them more than a decade in the game. They use the Microgaming Quickfire software, they have the eCOGRA Safe & Fair Seal, and they are traded on the London Stock Exchange. They have all of the bells and whistles that you could imagine with an online casino including multiple licenses in different jurisdictions, live dealer games, and hundreds of online slots to choose from with new releases coming out every single month.