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Casino Growth Spurs 32Red Profits

5th August

Internet gambling operator 32Red has announced a 27% increase in total gaming revenues to $13.2 million for the first half of the year thanks to the sturdy performance of its online casino offering.

The company announced that revenues from its online casino business rose 30% to $12 million compared to the same period last year and 36% up on the previous half-year’s figures.

Casino revenues for the company now account for 91% of its total gaming revenues from continuing operations while the increase has resulted in a record level of gross wins during the period.

32Red said that active casino players increased 9.3% compared to the second half of last year to 12,283 with casino yield rising 26% to $982 per player. Nevertheless, revenues from poker are continuing to struggle, remaining unchanged at $1.2 million compared to the previous two half-year results with active players falling to 8,668 and a declining poker yield of $128 per player.

“The re-focusing of our efforts in accelerating the growth of the 32Red business has delivered immediate results and I am pleased to report a good start to the year,” said Ed Ware, Chief Executive Officer for 32Red.

“In particular, the casino yield per player is strong and reflects the excellent player experience enjoyed by 32Red customers. Our distinctive and distinguished brand continues to stand out and we intend to further expand our UK profile.

“We continue to explore opportunities to expand the 32Red product offering and closely monitor regulatory developments in new territories. We look forward to progressing these projects in the second half of the year and will update shareholders accordingly.”


 

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