Published On: Mon, Jul 23rd, 2012

32Red announce booming profits

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32Red has announced their 6 month results and are at a record for the Gibraltar based online operator, with total Gross Win up 50% to £16.5m (2011: £11.0m) in the first six months of 2012.

The results represent a sixth successive 6 month period of record revenues for 32Red, here are some of the highlights:

Casino Performance:

  •  Gross Win (revenue) £14.5m, up 52% on 2011
  • Active casino customers* of 31,722 up 81% on H1 11
  • Casino player yield £457* (H1 11: £543)
  • New Casino players 18,724*, up 93% on H1 11
  • Casino cost per acquisition*: £166 (H1 11: £173)

 

Current Trading and Outlook for the Full Year

Gross Win for the twenty days to 20 July is up 28% on the corresponding period in 2011. The strong H1 trading performance and current trading is likely to see the Company deliver revenues that are ahead of current market expectations for 2012. The Company continues to invest in marketing and confirms that profits remain in line with management expectations.

 

Commenting on the performance, Ed Ware, CEO of 32Red, said:

“The continued growth in revenues, particularly in light of strong comparatives, is testament to the strong new player recruitment resulting from more investment in our main market, the UK. We aim to continue in this regard as well as taking our first measured steps in entering the Italian market. We look forward to launching 32Red.it during the second half of the year and welcome the recent decision by the Italian authorities to commence the procedures to approve online slots games from December 2012 onwards.

 “While we recognise the potential for economic and regulatory uncertainty across Europe, we look forward to further progress during the second half of 2012.”

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