|32Red Plc has announced that it is to sell betdirect to Stan James in a deal worth £5.75m. The sale includes the betdirect brand, customer database and certain assets of the betdirect business.|
Contracts were exchanged last night and expectations are that both parties wish to complete the transaction by December 10, 2007.
Ed Ware CEO 32Red stated, “We are pleased to announce the sale of betdirect to such an established and reputable company within the industry and in Gibraltar. We are working with the Stan James team to ensure that the integration and migration of betdirect is as smooth as possible.
“The sale of betdirect enables us to re-focus on our core and resonant 32Red brand and to maximize opportunities to develop our international reach and launch new products and services.”
32Red confirmed that it will continue to offer its online sportsbetting and gaming services.