BUSINESS

32Red post record revenues in first half of year

TAGs: 32Red

32red logo32Red saw revenues up 50 percent as investment in their core market continues to pay dividends. The company saw gross win, their measure of revenue, rise to £16.5 million in the first half of 2012 compared with the same period last year. This was in addition to active casino customers rising by 81 percent to 31,772 and new casino customers increasing by 93 percent to 18,724. As an aside, they changed the way they measure both these numbers in the first half of 2012. Before, a customer was defined as someone that played with real-money whereas it’s now measured by players that also make a deposit in the same month – thus explaining the anomaly if old figures are referred to.

Commenting on the figures, CEO Ed Ware 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.”

He also revealed their plans for the remainder of the year, with entry into the Italian market something they’re fully committed to with their “first measured steps” into the Italian market likely to take place soon.

“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,” he said.

For the current six-month period, gross win has increased 28 percent from July 1 to 20 and after the results were released earlier today shares have risen 2.77 percent. 32Red were most recently in the news for their continued battles against the domain name sleuths and if they continue to win court battles then the number 32 could indeed be inherited from God in a few years time.

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