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Great Half Year Report For 32red

Wednesday September 5, 2012 : GOOD HALF YEAR FOR ONLINE CASINO FIRM
 
32Red ticks all the boxes in H1-2012
 
Online gaming company 32Red plc posted a sterling H1-2012 report for the period to June 30 2012, and advises that trading since then is up 22 percent despite punters being distracted by the Olympics.
 
The Microgaming-powered and Gibraltar licensed gambling group also confirmed it is to launch casino, poker and bingo action in Italy before the end of this year, the first time the company has expanded beyond its core British market since its launch in 2002.
 
The half-yearly report included the following highlights:
 
* Revenues rose 50 percent to GBP 16.5 million - a new record for the firm.
 
* EBITDA before share option costs and exceptional items was up 12 percent to GBP 1.7 million.
 
* Active casino players in first 6 months up 81 percent to 31,722 (H1 2011: 17,548)
 
* Casino player yield GBP 457 (H1 2011: GBP 543)
 
* New Casino players up 93 percent to 18,724 (H1 2011: 9,704)
 
* Casino cost per player acquisition: GBP 166 (H1 2011: GBP 173)
 
* William Hill's appeal over 32Red trade mark infringement case was dismissed. 32Red reported exceptional costs of GBP 59,000 in this connection - the costs associated with the case were GBP 129,000 pounds and the company has received an initial payment of GBP 70,000. A hearing next year is expected to settle the level of damages and liability for costs associated with original hearing in 2010
 
* Interim 2012 dividend of 0.6p declared, up 20 percent on 2011
 
* Current trading remains strong - up 22 percent in July and August 2012.
 
"While we continue to focus on our core market of the UK, we look forward to utilising our Italian licence to expand the profile of the brand and to grow business in another regulated market," CEO Ed Ware said in a statement.
 
"We are very pleased to have delivered another strong performance during the first half of 2012, across all key measures. This performance has continued during the first 2 months of the second half of the year, despite the excitement and distraction of the Olympic Games.
 
"The sustained revenue growth across the Group has been primarily driven by the 32Red Casino and we continue to work on further enhancing the player experience as well as our marketing effectiveness.
 
"As previously stated, we intend to enter the Italian online casino market in early Q4 and we are looking forward to commencing marketing and operational activities.''



Gambling News :

US$30M DUBAI WORLD CUP - Racecourse Media Group and Meydan to showcase world’s richest raceday to more than 150 territories The Dubai World Cup is the first horse race to be broadcast live on airlines and cruise lines

NHL Odds: Forsberg Faces Elliott in Nashville - The last time the Nashville Predators played against the Calgary Flames, Calgary had a 4-1 lead five minutes into the second period. Nashville responded with four back-to-back goals, including a hat trick from centreman Filip Forsberg. Both teams went into overtime with five goals, and Calgary defenseman Mark Giordano (12 goals, 22 assists) scored the winning goal.

Sit & Go 2.0 launched online exclusively at Americas Cardroom - Get ready to cheer like a champion before the first flop is even dealt. The much-anticipated Sit & Go 2.0 is now launched online exclusively at Americas Cardroom and Sit & Go players are reaping the benefits of the next evolution of poker.

NBA Odds: Hawks, Wiz in Southeast Showdown - The Washington Wizards (42-27 SU, 36-32-1 ATS) can pretty much secure the Southeast Division title with a win Wednesday night over the Atlanta Hawks (37-32 SU, 31-38 ATS). Tip-off is at 8 PM ET on ESPN; the Wizards lead Atlanta by five games with less than a month remaining before the playoffs.

Mega Moolah progressive jackpot Hit Again - Microgaming’s Mega Moolah progressive jackpot slot has been hit yet again at just over €6.6 million!

NBA Odds: Clippers Try to Slow Down Bucks in LA - Milwaukee Bucks small forward Giannis Antetokounmpo and Los Angeles Clippers power forward Blake Griffin are two of the most talented and versatile forwards in the NBA. The two lead their teams into battle on Wednesday in Los Angeles.

NCAAB Odds: SMU Hosts Tulsa With AAC Title on the Line - There aren’t too many college basketball teams more profitable than the SMU Mustangs (25-4 SU, 18-5-1 ATS). They host the Tulsa Golden Hurricane (14-14 SU, 15-12 ATS) this Thursday night, tipping off at 8 PM ET on CBSSN.

NHL Odds: Canadiens Welcome Islanders Tonight - The Montreal Canadiens (32-20-8) welcome the New York Islanders (28-21-10) on Thursday (7:30 PM ET on SNE). After getting their first victory under new head coach Claude Julien, the Canadiens will look to build on that momentum against a red-hot Islanders team.

NHL Odds: Reeling Flyers Seek Relief in Pittsburgh - #nhl The Philadelphia Flyers have been a bit off since the holidays. They’ve won just eight games since the Christmas break, and now they’ve got a tough one coming up this Saturday night against the Pittsburgh Penguins.

Dollars to Donuts Slot Launch - Firstly, it's a classically styled, easy playing 3-reel with five pay lines featuring a traditional icon set of bars and sevens.

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