LONDON (3 April 2006) — McDermott Will & Emery UK LLP has advised 32Red plc which has raised £5.3 million via a placing of 3,766,500 new ordinary shares at 140 pence each. The placing, primarily with new institutional investors, represents approximately 8 per cent of the company’s existing share capital and when issued, will represent approximately 7.4 per cent of the company’s enlarged issued share capital.
32Red plc is a UK-focused online gaming business predominantly comprising two activities: casino and poker. The company offers customers over 200 online casino games played against the house. They also operate a multiplayer online poker room.