Online Casino Offers Stock to Raise Funds for Expansion
The news is full of companies in the online casino industry offering up shares on global stock markets in order to increase their profits and expand their businesses. Very recently, “32 Red”, a well-established online casino, famous for its poker rooms, announced its intentions to place 4 million of its ordinary shares on the stock market. By selling 8% of its shares at 140 pence each, it is estimated that the online casino will make a whopping 5.3 million Pounds in revenue.
The online casino has announced that it intends to spend the 5 million Pounds on an expansion project. The online casino will invest in marketing campaigns and an additional poker room. Another area that the online casino is looking into is acquisition opportunities within the gambling industry.
The online casino was accepted into AIM in September and, since then, it has been looking to expand its shareholder base and raise money to expand the business further. “32 Red” online casino is owned by the Trafalgar group. Numis Securites brokered the stock deal for the online casino. It is hoped that now that the company has over 5-million pounds infused into its coffers, it will be able to focus on its marketing program and brand recognition.