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32Red enjoys a better 2008

The popular UK online gambling casino public company 32Red plc has reported a good set of results in a trading update for the year ended 31 December 2008, with significant growth during the year featuring total gaming revenues of GBP13.0 million, an increase of 27 percent on 2008. The company's flagship operation, the 32Red.com online casino, performed strongly and grew by 30 percent, generating an impressive Gross Win of GBP 11.7 million (2008: GBP 9.0 milion).
 
Operating profit before share option costs was GBP 1.5 million, up from GBP 1.3 million, and earnings before interest, taxation, depreciation, amortisation and share option costs was GBP 1.8 million, up from GBP 1.6 million.

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The strong year-on-year growth in casino revenues has been driven by both increased active player numbers, up 15 percent on 2008, and an improved yield per player of GBP 536, up 13 percent on 2008.
 
However, online poker fared less well with a fall in revenues of 13 percent compared with 2009, prompting a decrease in poker marketing in favour of an increase in casino marketing budget.
 
The company intends to authorise a share buyback programme in 2009 and to set out plans to reinstate its dividend policy. Bank debt at year end stood at GBP 250 000.
 
Key Performance indicators included:
 
* Gross Win GBP 13.0 million, up 27 percent on 2007
* Casino Gross Win GBP 11.7 million, up 30 percent on 2007
* Active casino customers 21 808, up 15 percent on 2007
* Casino player yield GBP 536 (2007: GBP 474)
* New Casino players 15 567, up 7 percent on 2007
* Casino cost per acquisition GBP 118 (2007: GBP 137)
 
Management reports that trading in 2009 to date has been strong across the company and the Board anticipates a successful and exciting 2009.
 
Preliminary results will be announced in early March.
 
Commenting on the performance, CEO Ed Ware, said: “The refocus on the core product, 32Red Casino, has yielded encouraging results. 32Red Bingo, 32Red Mobile and 32Red Spreadbet have all been added to our platform and are helping us to grow our customer base.
 
"Our good performance in 2008 puts 32Red firmly back on its growth path with revenues from our core business, the 32Red casino, growing strongly. We will continue to increase our marketing spend in 2009 and anticipate good results from our recently launched television advertising campaign in the United Kingdom.
 
"We will continue to compete effectively against our larger peers through our existing platforms and the addition of new products to the 32Red portfolio including financial spread betting, due to go live later this month."
 
The company's CMC Markets white label financial spread betting and contracts for difference (CFD) platform is branded 32Red Spreadbet. The company also plans a 32Red Bet sportsbook for 2009.”



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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.

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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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