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32red Revenues H1-2016

32RED ONLINE CASINO REVENUE UP 63 PERCENT IN H1-2016
 
Record high in net gaming revenue achieved by Gibraltar-based online gambling group.
 
The 32Red online gambling group posted its H1-2016 numbers Friday, reporting record net gaming revenue at GBP 30.4 million - up an impressive 63 percent year-on-year. Other metrics recorded by the group included:
 
* Online casino division revenue up y-o-y 24 percent at GBP 21.2 million;
 
* Revenue from other verticals up 223 percent at GBP 2.3 million;
 
* Good growth in the Roxy Palace business acquired in July last year, with the brand the brand contributing GBP 5.8 million during the half-year;
 
* Mobile remained the fastest growing vertical in terms of both both revenue and new player acquisition, with revenue up 45 percent year-on-year and delivering more than half overall revenues;
 
* Italian operations flourished, with revenue growing 33 percent year-on-year at GBP 1.1 million;
 
* Strong organic growth in the groups core business - up 32 percent to GBP 23.5 million.
 
Group CEO Ed Ware said that investment in accelerated, returns-oriented marketing and a focus on delivering organic growth had contributed to the successful half-year, and that the company was looking for further relevant and value-contributing acquisitions.
 
“These results reflect the core strengths of the business: our strong brands, first class customer service and marketing expertise," Ware onserved, adding:
 
“32Red is in excellent health with a number of exciting opportunities ahead. We have a focused strategy to deliver continued organic growth as well as potential acquisition opportunities and we continue to look to the future with confidence."

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Gambling News :

IGT Continues Partnership with Coljuegos EICE - IGT will continue its 16-year partnership with Colombian administrative gaming authority Coljuegos EICE following a public procurement process for a five-year private operator contract to run the draw-based online lottery game Baloto.

Magic Spells SLot Launches - The penny slots’ Wild symbol is a bubbling cauldron which is an Expanded Wild that can cover up to four positions for multiple winning combinations.

Mega Moolah progressive jackpot slot was hit for Euro 6,078,249.33 - Identified as N.C., the player was a novice who signed up to the online casino on a new customer bonus offering 100 chances to become a millionaire for Euro 5.

Lightning Box Games in Deal With Everi Games - Australian slot developer, Lightning Box Games, has entered into a distribution deal with electronic gaming content provider, Everi Games, for a selection of its proprietary slot content.

Storspiller HighRoller Casino Launches - Storspiller.com is targeted at “high rollers” within Kindred’s total registered customer base who play for GBP 200 or more per month.

Another Attempt to Acquire Tatts - The surprise A$8.4 billion bid for Tatts late last year by the Pacific Consortium caused some consternation in the Tabcorp and Tatts boards, which were in merger talks but these concerns faded following Tatts rebuff of the consortium's offer

US Supreme Court Interested in NJ SportsBetting Case - The US Supreme Court, which is for the second year mulling whether to hear New Jersey's case for wider legalized sports betting in the United States ) has showed some interest in the case.

Ladbrokes Trading Update - The Ladbrokes Coral plc online and land gambling group has released a trading statement for the unaudited year to 31 December 2016, reporting:

Leovegas Player Wins a BMW X4 - A 23-year-old Southampton University student identified only as Leo has won a GBP 50,000 BMW X4 sports saloon car playing NetEnt's Live Casino Roulette on the Leo Vegas mobile gambling,site.

New Survey on Europe Online Gambling Regulations - The companies delivered their conclusions, which include both EU and European Economic Area technical regulations, this week.

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