BUSINESS

32Red posts more impressive results

TAGs: 32Red

32Red logo32Red has its online casino to thank after posting another set of impressive results. Today’s trading update saw all parameters improve compared with the same period last year as total revenue rose to 42%. Total gross win rose to £9.5m, a full 41% more than last year, with the number of active casino customers up 12% to 21,745.

CEO of 32Red, Ed Ware, commented, “This exceptional year on year growth is particularly pleasing given the strong trading experienced during the comparative period. Our marketing has become more effective and has yielded encouraging results. We will build investment in this area throughout the remainder of the year.”

In terms of their court case with William Hill, the damages and any appeal hearing have still yet to receive a date to when they will come to court.

Holding a license in Gibraltar may mean that 32Red will be one of looking at a new strategy when it comes to their operations in the UK. Commenting on what the future may hold, including how the new UK regulations may affect them, Ware added, “While the focus remains in the UK, the Board continues to monitor developments in Europe.”

32Red is another company that is heavily involved in the football sponsorship market, and Ware added, “32Red was delighted to have renewed the sponsorship of Swansea City Football Club for a further three years in February, and we congratulate the Club on promotion to the Premier league.”

Whilst the company is delighted right now, it will be interesting to see what will happen when they’re forced to adopt a UK license. In order to continue operating in the market over which they have most focus, this will be the case, and it could have a detrimental effect on their sponsorship deal were they not to adopt one. Looking at Swansea’s new away jersey, we’re not sure they’d be too bothered anyway. The Dutch look was so last year!

Swansea away strip

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