The British based online casino company, 32Red has announced its intentions to expand its portfolio with the acquisition of the well-known gaming site, Roxy Palace Casino. The Gibraltar licensed 32Red.com has agreed to pay the owners of Roxy Palace a consideration of £8.4 million for all the site's assets. This sum comprises a cash sum of £2 million, while a further 10 million new ordinary shares will be issued. 32Red trades on the Alternative Investment Market of the London Stock Exchange and is owner of several successful gaming products, including the award winning 32Red Casino. Roxy Palace Casino will complement the products that already exist under the 32Red.com umbrella. The chief executive officer of 32Red, Ed Ware noted that his company has known and respected Roxy Palace Casino for many years, as the online casino has been part of the industry since 2002. Ware pointed out that the groups share a number of common values. "Like 32Red, Roxy Palace is also based on the Microgaming platform, which will aid in making for a smooth integration," he said. Ware pointed out that the acquisition of the online casino fits in well with 32Red's business strategy to expand in regulated markets around the world. He said that the purchase of Roxy Palace Casino would allow the group to leverage the expertise that the online casino has build up over the many years that it has been in the business, especially in international markets. 32Red will support the Roxy Palace brand "along with maximizing synergies where appropriate," according to the CEO. Roxy Palace Casino, which offers new players a welcome bonus of £350 over their first two deposits, will work to complement 32Red Casino, considered one of the flagship sites in the Microgaming family of partner casinos. Roxy Palace Casino has over 230,000 registered players and is popular across the board for its over 500 Microgaming titles, including classic and video slots, blackjack, roulette, video poker and more. The site also carries progressive jackpot casino games where prizes could reach into the millions. The move by 32Red to acquire Roxy Palace Casino seems to be a good one, with investors showing their confidence in their deal by pushing the price of the company's shares up on the London Stock Exchange yesterday. Over the years 32Red has sponsored a number of Premier League football clubs, including Aston Villa and Swansea City.