32Red plc
- Founded
- 2002-01-01 in Gibraltar
- Headquarters
- Gibraltar (registered office while independent); since April 2017 operated as a brand within Entain plc
32Red plc was a Gibraltar-based online gambling operator founded in 2002 by Vikrant Bhargava and Ed Chandler. It launched 32Red Casino, an online casino offering slots, table games and live dealer games, and grew through a customer-focused proprietary platform and high-profile marketing partnerships, including a shirt sponsorship with Scottish football club Rangers. The company was admitted to London's AIM market in 2007 and later widened its product range to include online poker, bingo and sports betting, while also operating the Roxy Palace online casino brand. In January 2017, GVC Holdings, now Entain plc, agreed to acquire 32Red for about £175.6 million; the deal completed in April 2017 and 32Red was delisted from AIM. Since then, 32Red has continued as a consumer-facing brand inside Entain, offering casino, live dealer, poker, bingo and sportsbook products mainly to UK and European customers. The firm held a Gibraltar gambling licence and, from October 2014, a UK Gambling Commission licence under the point-of-consumption regime.
Detailed Review
Founding and Growth
32Red plc was founded in Gibraltar in 2002 by Vikrant Bhargava and Ed Chandler, who chose to build the business on a proprietary casino platform rather than licensing white-label software. The flagship 32Red Casino went live the same year and was positioned around customer service, fast withdrawals and responsible gambling tools, helping the company stand out in a crowded early-2000s market.
The company was admitted to AIM in 2007 and used the capital raised to broaden its product range. 32Red Poker followed in 2009, and the group later added mobile casino apps, live dealer tables and an online bingo product, while also running the Roxy Palace online casino as a second brand. In the UK, the brand's visibility was boosted by a shirt sponsorship deal with Scottish football club Rangers.
Leadership and Regulation
Co-founder Vikrant Bhargava stepped back from day-to-day management in the early 2010s and was later appointed founding chair of the UK's Responsible Gambling Strategy Board. Ed Andrewes, who had been with the company for a number of years, served as Chief Executive Officer in the period leading up to the sale. The company was dual-regulated after the UK introduced point-of-consumption licensing in October 2014, holding both Gibraltar and UK Gambling Commission licences.
At the time of the acquisition 32Red had hundreds of thousands of registered customers and roughly 300 staff, mainly in Gibraltar alongside a technology team in Edinburgh. In July 2018, after the takeover, the UK Gambling Commission fined the company £2 million for anti-money-laundering and social responsibility failings.
Acquisition and Current Status
In January 2017 GVC Holdings announced the acquisition of 32Red for approximately £175.6 million in cash. The deal completed in April 2017 and 32Red was delisted from AIM. GVC rebranded as Entain plc in December 2020, and 32Red has continued as one of its consumer-facing UK brands. The brand currently offers casino, live casino, poker, bingo and sports betting, with its sportsbook powered by Entain's platform.
Key Products
32Red Casino
The flagship online casino offering slots, table games, video poker and progressive jackpots. Originally built on 32Red's proprietary in-house platform and later migrated to parent-company technology after the GVC acquisition.
32Red Live Casino
Live dealer blackjack, roulette and other table games streamed from studios and available on desktop and mobile.
32Red Poker
Online poker brand launched in 2009, featuring Texas Hold'em and Omaha cash games and tournaments.
32Red Bingo
Online bingo product offering 90-ball and 75-ball bingo plus instant-win games.
32Red Sports
Sportsbook product offering pre-match and in-play betting on football, tennis, horse racing and other sports, powered by Entain's sportsbook platform after the acquisition.
Roxy Palace
A sister online casino brand operated by 32Red plc, serving a complementary customer base with its own slots and table games offering.
Offices & Headcount
300 employees (approx.)
Key Persons
- Ed Andrewes
Chief Executive Officer (at time of GVC acquisition, 2017)
Notable past members
- Vikrant Bhargava — Co-founder & Chief Executive Officer