32Red Again Enjoys Record Revenues

[image credit : 32Red]

Online gambling operator 32Red has once again reported record revenues with total gross win rising by 15% to £19m ($28.7m/€22m) for the first six months of 2013; up from £16.5m in the same period in 2012.

The positive performance of the company is underpinned by strong trading at 32Red Casino, its flagship online operation. The firm reported a 34% year-on-year rise in active casino customers while gross win rose 17% in the same period to £16.9m.

The total revenue figure also included a £500,000 maiden contribution from Italy following the launch of 32Red’s casino operation last November with slots also permitted in December. Despite a slow start in the country, the company is expecting further progress with the launch of a mobile casino.

Ed Ware, Chief Executive Officer of 32Red, said, “As with a lot of other new entrants to the Italian market, we are finding progress slower than expected.

However, we remain confident that this will develop into an important and lucrative territory for 32Red.”

In addition, 32Red also confirmed it expects the total liabilities of bookmaker William Hill for damages and costs in respect of legal proceedings and appeals over a trademark dispute between the two companies to total approximately £1.25m.

The company has additionally been recognised for its customer service in a recent industry-wide ‘mystery shopper’ survey where it ranked top of the Customer Service Quality Audit.

The group will announce its full interim results on September 12.

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