32Red Records Fourth Consecutive Record Annual Revenue

Online gaming operator 32Red will target further growth after it posted record annual turnover for the fourth consecutive year.

The firm generated total annual revenue of £38.8 million (€46.6 million/$63.4 million) in 2013, up from £32.1 million in the previous year. The company has experienced significant growth over the past four years, with annual revenue having doubled since 2010.

The operator cited casino as the main source of the latest revenue rise after it contributed £35.6 million towards the total figure, up from just £30 million in 2012.

Revenue from other products was slightly down on the previous year, but the firm’s new operations in Italy, which only began this year, helped increase the annual figure with an additional £1.3 million in revenue.

In addition, 32Red also said that the number of active players grew by 24% to 71,266. However, the firm did suffer a drop in the number of new players, with the total number falling from 41,918 in 2012 to 38,033 in last year.

Ed Ware, 32Red’s chief executive officer, said that he expects the firm to now build on this success and chase further growth in 2014.

“Our 32Red casino product continues to go from strength to strength and the 24% growth in active players is testament to our focus on delivering a second to none customer service across platforms,” he said.

“Trading momentum has continued into 2014 and I am confident that our recent step-up in marketing investment, increased focus on CRM, and the bolstering of our board leave us well placed to make further progress in the year.”

The group confirmed it would announce its preliminary rests on March 6.

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