BUSINESS

32Red H1 gaming revenue up 22%

TAGs: 32Red, Ed Ware, gaming revenues, Gibraltar

32Red H1 gaming revenue up 22% Gibraltar-based online gambling operator 32Red has reported a significant growth in net gaming revenue during the first half of 2015, ending June 30.

Net gaming revenue in H1 rose 22% to £18.6m compared to £15.2m posted over the same period last year, which is attributed to the increased number of new customers as well as more frequent activity by 62,000 current users.

The growth registered during the first half of the year seems set to continue in H2, as the company announced a jump of 35% in gross gaming revenue in the first three weeks of July.

The financial performance of 32Red’s Italian-facing site is also satisfactory, with revenue up 67% over the six-month period to £0.9 million.

32Red’s Italian site attracted 4,285 new players, bringing a total of 8,443 active players in H1. 32Red executives are determined to continue the company’s expansion and add new gaming products to its portfolio in the second half of the year.

“Our continued focus on customer service, combined with increased marketing expenditure and cross sell from supporting products has driven double digit organic revenue growth in the 32Red casino in the half year,” said 32Red CEO Ed Ware.

Ware also mentioned its recent acquisition of the Roxy Palace online casino and how 32Red’s performance meets its board’s expectation.

“We recently announced the acquisition of the Roxy Palace business and I am delighted with initial trading and the integration progress. The combination of this earnings enhancing acquisition allied with our strong organic growth provides a strong platform for continued growth and we look forward to the future with confidence.”

32Red showed significant growth in its mobile gambling channel, which accounted for 42% of overall gross gaming revenue.

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