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32Red Earnings Report
32RED DELIVERS AGAIN
Continues “excellent operational momentum”
Online gaming company 32Red Plc has turned in another impressive set of results for the six month period ending June 30 2016.
The company delivered a record revenue performance with net gaming revenue up 63 percent to GBP 30.38 million (H1/2015: GBP 18.58 million) and gross profits amounting to GBP 7.5 million (H1/2015: GBP 4.3 million).
EBITDA amounted to 4.46 million (H1/2015: 1.24 million), an increase of 258 percent.
32Red Casino remains the company’s main revenue earner accounting for 70 percent of overall revenues and delivering growth of 24 percent on the back of increased marketing investment.
Mobile accounts for 50 percent of all casino revenues (H1/2015: 42 percent) and is considered the key growth driver.
The Italy business remains on track to break even in 2016, the company said, and continues to increase market share. The business delivered a 33 percent increase in gaming revenues over 2015.
Post close, the company has renewed its long-term contract with Microgaming for an additional five years but new terms enable 32Red to augment Microgaming’s comprehensive offer with additional content from other providers.
"We are delighted to report a record revenue and profitability performance for 32Red in the first half of 2016 which has been driven by strong growth across our business and brands,” Ed Ware, chief executive officer for 32Red commented.
“The Board remains confident of meeting its expectations for the full year."
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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