BUSINESS

32Red enjoys record 2012; Betsson teams up with Play'n GO; Hills gets analyst boost

TAGs: 32Red, Betsson, Denmark, Play'n Go, William Hill

news in brief may 232Red has announced a record set of revenue figures for a third year running after seeing them jump by 28 percent to £32.1million. The company’s casino product continues to drive their performance as a whole with revenue from that vertical accounting for £30million worth of the firm’s revenue. Player recruitment increased by 52 percent to 41,918 compared to the previous 12 month period and their yield per active player “remains one of the highest in the sector”. CEO Ed Ware called initial trading on their Italian slots product “encouraging” with news they are planning “further development” of games and platform offerings in the coming year. As for 2013 so far, trading has been “strong” across the firm’s products with gross win for January’s first 21 days up 15 percent on last year’s “exceptionally strong” corresponding period.

Betsson has gone live in Denmark with a range of games designed by developer Play’n GO. The Swedish company will first offer the titles through its Betsafe.dk domain with the same agreement allowing Betsson.dk to offer them “in the near future”. Henric Andersson, product director for Betsson, revealed he has been “impressed with the results” since adding the web and mobile games to their dot.com portfolio and that extending them to the Danish site was “a natural step”.

Analysts think that bookmaker William Hill will outperform other companies in the same sector. JPMorgan Chase reaffirmed an “overweight” rating for the firm’s share price with other analysts also moving to back the company’s shares. Jefferies Group reiterated a “buy” rating that was first sent out on Dec. 31 last year and Oriel Securities upgraded the bookies from “hold” to “add”.

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