32Red Buys Golden Lounge Online Casino
15th February, 2010
Following 32 Red’s acquisition of Nedplay last month, the online casino company has confirmed this morning that it is to acquire the business assets of Golden Lounge, an online casino brand which is powered by Microgaming and licensed in Kahnawake.
Within the agreement, 32Red will aqcuire Golden Lounge’s player database, software agreements, domain names and all other intellectual properties of Golden Lounge. With the acquisition of Nedplay, the sole liabilities assumed by 32Red are in respect of player balances and amount to £115,000.
“Both deals were compelling and similar in many ways and we expect to be able to integrate both casinos smoothly and quickly into our platform,” said Ed Ware, CEO of 32Red. “At this stage, it is too early to assess whether the acquisitions will be earnings enhancing in 2010, but they are a good fit as both casinos have historically focused on European territories away from the UK, whereas 32Red continues to be a UK-centric brand.”
The acquirement strengthens 32 red’s portfolio of online casinos which includes: Nedplay, DashCasino in addition to the 32Red branded online casino.
“We will now apply our award-winning levels of player support, operational discipline and marketing to both brands in the coming months, ahead of evaluating the total number of brands operated by 32Red Plc. The sector continues to evolve quickly and 32Red remain committed to capitalising on suitable opportunities that may present themselves.”
By Tom
