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Record Earnings for 32Red
Friday March 7 ,2014 : ANOTHER RECORD YEAR FOR 32RED.COM
Online gambling group posts record returns for the fourth year running.
Gibraltar-based online gambling group 32Red.com has posted another strong annual performance for the fourth consecutive year, reporting record revenues and EBITDA.
Highlights of the report include:
* Total gross gaming revenue up 21 percent year-on-year at GBP 38.8 million;
* Online casino GGR up 19 percent y-o-y at GBP 35.6 million;
* Increase of 24 percent in active player numbers to 71,266;
* A series of high profile sponsorships such as All-Weather Horse Racing Championships; Channel 4’s Late Night Film; the sponsorship in Italy of Serie A side FC Bologna; and the UK television shows Paul O'Grady and ‘I’m a Celebrity Get me Out of Here!".
* Italian operations going well albeit on a small scale at present, generating GGR of GBP 1.3 million from a 1 percent market share;
CEO Ed Ware was optimistic on the group's performance in the future, saying that his team intended to build on the successful preceding years and commenting:
"There are regulatory challenges as well as opportunities this year but we anticipate another strong year of growth in the core 32Red casino, supported by increased contributions from Italy, betting and other products.
“We remain committed to our strategy to increase investment in regulated markets, both in terms of marketing and personnel, to ensure that an unrivalled level of player support and service is maintained.”
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