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32red FY2015 results break company records

Friday March 11,21016 : DESPITE STRONG HEADWINDS, 32RED CONTINUES TO PROSPER
 
FY2015 results break company records.
 
Good results have come to be expected as the norm at online gambling group 32Red, and full year 2015 numbers released Thursday did not disappoint, despite what the company called “significant external regulatory and tax headwinds” (read p.o.c. tax increases in the UK).
 
The company claimed new records in respect of revenue generation, along with the following FY 2015 highlights:
 
* Net gaming revenue up an impressive 52 percent year on year to GBP 48.7 million;
 
* EBITDA down GBP 200,000 y-o-y at GBP 5.2 million, thanks to the point-of-consumption tax in the UK - the company points out that before p.o.c. underlying EBITDA stood at GBP 11.2 million - up 76 percent y-o-y, but that after the tax started biting this declined to GBP 6.4 million;
 
* Full-year dividend of 2.8 pence, a year-on-year increase of 17 percent;
 
* Cash on hand at the end of December 2015 was GBP 10.3 million - up 45 percent on the previous year.
 
Chief executive Ed Ware reported that the year was another record for the company despite the stiff external regulatory and tax headwinds.
 
“These results are an excellent demonstration of 32Red's core strengths - a talented and dedicated team, first class ROI-driven marketing skills and established, highly-appealing online gaming brands," he said.
 
“The acquisition of the Roxy Palace business in July complements the strong organic growth delivered in the core business as we exploited targeted marketing opportunities and attracted new customers to the 32Red brand."
 
Ware said that marketing budgets would again be increased in 2016, and he anticipated another successful year for the company.



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Abdelaouhab Zizi Wins MPNPT Morocco Main Event - Abdelaouhab Zizi has defeated fellow Casablanca resident Fadhil Farag heads up to win the 2018 MPN Poker Tour Morocco Main Event and MAD 375,000 (c. €33,220) after a two-way deal.

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.

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