Magic Red casino started out in 2014 and quickly gained a reputation for withholding funds and making it difficult for players to withdraw. This of course didn't do much for their reputation and and by 2016 they had closed down leaving a trail of annoyed people.
In 2017 the Aspire Global group bought the brand name and have relaunched them. It seems Magic Red in 2020 is running under a full UK Gambling Commissions licence and they appear to be treating players fairly and operating like an online casino should.
They are currently offering £25 bonus and 25 frees spins when you first deposit £25 or more.