32red

32Red breaks revenue records again

Online casino 32Red grew revenue by 50% to £16.5m in the six months to 30 June 2012, the six successive half-year period in which the company has reported record revenues.

The stellar performance was driven by 52% year-on-year growth in the Gibraltar-licensed company’s core 32Red Casino, which generated £14.5m in gross win in the six months to the end of June, compared to £9.5m in the same period last year.

32Red CEO Ed Ware said the continued growth was largely testament to strong new player recruitment in the UK, 32Red’s main market, which accounts for around 75% of its business.

New casino players were up 93% up to 18,724, and actives up 81% to 31,722, building on the 2011 growth unveiled in March, attributed at the time  by the company to increased and more effective marketing, particularly its sponsorship of English Premier League football team Swansea City.

With gross win to 20 July also up 28% on the corresponding period in 2011, the Microgaming-powered online casino said the first-half performance and current trading meant it was likely to deliver revenues for 2012, ahead of current market expectations.

Ware added that the company looked forward to launching 32Red.it in the regulated Italian online gaming market during the second half of this year, and welcomed the decision of Italian authorities to allow online slot games from 3 December.

Revenues from the company’s poker room, also provided by Microgaming, remained stable at £0.6m. Gross win from other products, including bingo, sports, rummy and bingo, was up to £0.7m, from £0.3m a year earlier.

 


Casino Choice journalist

Recent Articles

Don't be shy, share your view here...