32 Red sees 26% increase in revenues
23rd July, 2008
The executives at 32 Red must be relishing this moment because the online gaming provider of online poker and casino has increased its revenue for the first six months of the year by 26% from last year during the same period.
The company sold Bet Direct, which was its division for bookmaking, in October of last year and was then able to focus efforts more squarely at its core products, casino and poker.
“Our distinctive and distinguished brand continues to stand out and we intend to further expand our UK profile,” said Ed Ware, 32 Red’s chief executive. “We have also successfully launched a mobile phone gaming service, and integrated bingo offering and a French language casino during the first half of the year. While it is too early to assess the full potential of these new platforms, early signs are encouraging.”
32 Red also launch some new additions including bingo, language and mobile products that managed to do quite well, continuing its growth.
Revenues for the company in 2007 were £5.2 million in 2007, and have now risen to £6.6 million in 2008. Taking the biggest piece of the pie, or generating the biggest piece was the casino, which brought in £6 million – rising from 4.6 million last year during the same six months.
What’s more is that the casino’s yield per active player also saw a large increase. In the first half of 2007, the casino was generating £426 per player registered, but the first half of this year £491 is being generated per player.
By Michael
