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32Red Online gambling firm enjoys a successful first half
The Gibraltar-based online betting and gaming firm 32Red has reported record revenues with total gross win of GBP7.8 million in the half-year to end-June (H1 2009: GBP5.8 million).
The performance was underpinned by good results at the company's flagship operation, the 32Red Casino, which has continued to flourish in the first half of 2010.
Trading stepped up once again during H1 2010 with casino operations experiencing strong levels of performance across all disciplines:
* Gross win GBP6.8 million ( H1 2009: GBP5.2 million)
* Active casino customers 19,497 up 35 percent on H1 2009
* Casino player yield GBP353 (H1 2009: GBP360)
* New Casino players 12,289, up 26 percent on H1 2009
* Casino cost per acquisition: GBP86 (H1 2009: GBP89)
Poker revenue followed a general industry trend and was down 14 percent at GBP 400 000 and Bingo revenue declined 3 percent to GBP 100,000.
Management reported that the encouraging performance both in terms of player numbers and revenues reflects the effectiveness of marketing activities and supports the company's belief in the strength of the 32Red brand, reputation and operational expertise.
32Red continues to take steps to protect its Intellectual Property Rights and litigation with William Hill remains ongoing with a trial date set for October 2010.
On 15th February 2010, the Company announced the acquisition of the assets of two European-focused online casinos, Nedplay and Golden Lounge, both purchased for nominal consideration (see previous InfoPowa reports). Both casinos have been fully integrated and have generated GBP500,000 in revenues from the period since acquisition up to 30th June 2010. Players of both Nedplay and Golden Lounge have responded well to direct marketing and the company is assessing the marketability of both brands going forward.
The group chief executive, Ed Ware, commented: "Our strong first half performance is particularly pleasing given the challenging economic conditions in the United Kingdom, which remains our core marketplace.
"We believe that the 32Red brand and its core values continue to provide us with the tools to penetrate the online and mobile casino market successfully.
"Another period of strong recruitment at reduced cost per acquisition rates since the end of 2008 gives us optimism for the prospects of the business going forwards.
"The group has further strengthened its balance sheet and, having repaid all outstanding bank debt, will increase marketing spend during the second half of the year. While the focus remains in the UK, the Board continues to monitor regulatory developments in Europe and the rest of the world with a view to expanding into new markets should attractive opportunities arise.'
Betradar Launches US Sports Betting Solutions -
With only a few weeks to go until the betting and gambling world descends on ICE in London, Betradar have today announced that they will be launching a comprehensive range of tools and services to any company that will be looking to provide sports betting in a post-PASPA United States.
Final 12 For MPNPT Morocco -
Sunday on the MPN Poker Tour Morocco will see several trophies awarded at the Mazagan Beach Resort, with the largest going to the Main Event champion along with a prize of MAD 400,000 (c.€35,400).
MPNPT Morocco Updates -
Leading the 104 combined survivors from both flights is still Said El-Yousfi with 272,000 chips; visit the MPN Poker Tour blog for an end-of-day recap and full chip counts.
MPN Poker Tour Morocco Day 1A -
The MPN Poker Tour has returned to Morocco this week (January 11-14), featuring the MAD 1.5 million guaranteed Main Event, accompanying side events, and the activities and parties for which this tour has now become known on two continents.
2018 MPN Poker Classic -
The MPN announces the return of The Classic tournament series this January. The series is back following its successful €350,000 guaranteed debut in 2017. This time €500,000 is guaranteed, along with a once in a lifetime trip to Monaco for the Classic Champion.
PDC and Sportradar Renew Deal -
Following this month’s hugely successful World Championship, the Professional Darts Corporation (PDC) and long-standing partners Sportradar have renewed their multi-faceted cooperation that will see the leader in sports data and content continuing in their role as official data
Poker Yaar Joins MPN -
Available through download, instant play and mobile, Pokeryaar.com is live with Omaha, Hold’em and Five-Card poker variants, alongside MPN’s Fish Party, the industry’s only progressive jackpot SNGs.
New MPN Poker Rooms Tower Torneos -
Impressed with Microgaming, having already integrated with the Quickfire platform to gain access to some of the industry’s best gaming content, Tower Torneos has extended the relationship with poker.<
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