British online casino company, 32Red exits the Italian Market. It will be at the end of the month after eight years of launching in the European Union member state. The Kindred Group Inc. subsidiary will cease online operations from November 30, 2020.
According to the company’s statement, that starting November 30, 32Red will no longer be operational. It was a difficult choice to make. However, they hope that these years spent together have been fantastic for the people, as they have been for them.
Funds Withdrawal Deadline as 32Red Exits Italian Market
The customers are too advised by the operator to withdraw their funds by November 29 as 32Red exits Italian Market. It is because the site will not be accessible after that date.
Kindred has completed its $218.3 million take-over of Gibraltar based 32Red in April 2017, reports focusing instead on prompting its Unibet.its brand in the European country’s Market. The Swedish online gambling operator guarantees 32Red. It players warm welcome they deserve.
Italian eGaming License
32Red was awarded an Italian eGaming license in March 2012. After revealing in November 2011 that it hoped to launch in the Italian Market the following year. In 2011, Italy also had regulated its online gambling industry, opening its doors to foreign operators of online casinos from December 2012.
Online Gambling in the Italian Market
The revenue increase to 25.4 percent year-on-year in September for Italy’s regulated online gambling market. With significant growth in the core iGaming and betting odds via the sports betting verticals aiding the ascent.
Kindred has posted an 8 percent hike in H1 revenue despite COVID-19’s impact operations. However, it has yet to publish its third-quarter revenue. The company’s gross gaming revenue for the period was £484.8m.
32Red is a multiple award-winning online casino. It provides all the thrills players could want from gaming online. 32Red online casino is part of the Kindred Group Plc. which operates various brands, including Unibet, bingo.com, Maria Casino, and more.