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September 2010

32 Red Releases Excellent First Half Results

by Anton Johan

32 Red Casino profits rose 29%.

32 Red Plc, the London trading gambling company, was delighted to announce its interim results for the first half of 2010.

The group showed that revenues had grown a very satisfactory 33%, compared to 2009.

32 Red Casino, group's flagship online casino site, did exceptionally well, with revenues climbing 29% year on year.

"We are pleased to announce another strong performance by 32 Red," said the group's Chief Executive Officer, Ed Ware. "The first half of 2010 represents a record performance and follow a previous set of records achieved in the second half of 2009."

"This is in contrast to the negative growth experienced in H1 2009 and supports both our ongoing marketing investment in 32 Red and our resolve to protect our brand and intellectual property rights," he said.

Poker continued to perform poorly, with a drop in revenues of 12% compared to last year.

"Our long term strategy has been centered on the United Kingdom's online casino market and while we will continue to increase investment in this area, we remain convinced that other 32 Red products and services, along with expansion into new territories, remain part of our future growth," said Ware.

In short, gross casino revenues were shown to be £6.8 million (up 29% on H1 2009).

New casino players in the first six months were 26% to 12,289.

Active casino players in the first six months were nearly 19,400, increase of 35%.

Story Highlights »
  • Revenues grew 33% overall.
  • There were nearly 12,300 new casino players in the first six months.

32 Red Casino

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