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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."

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Gambling News :

Pokerstars Now Lead Sponsor of Global Poker League - Alex Dreyfuss Global Poker League has received a significant boost from the announcement by Dreyfuss Mediarex Sports and Entertainment company Friday that online pokers biggest operator, Pokerstars, has signed on as lead and exclusive GPL sponsor.

Betconstruch invests in Ucrafts - BetConstruct may have also been attracted by the obvious interest in Ucrafts business - the start-up has already gained 5,000 subscribers in just a few months of commercial activity.

Plus500 Founders Selling Off Shares - Alon Gonen and Gal Haber respectively sold 7.2 million shares, retaining a 10.4 percent interest in the company; and 2.6 million shares, retaining a smaller stake of just 3.6 percent.

Rush Golf Live Launches - Virtual sports provider Inspired Gaming has announced the launch of its latest product - Rush Golf Live - with Betfred the first operator to carry the game.

British Basketball League in Deal With Perform - The British Basketball League has agreed a six-year deal with Perform, a digital sports content and media group, for the distribution and sale of all global media-related rights.

Ashley Sandyford Sykes Sharing Slot Expertise - Sandyford-Sykes has experience in the development of over a hundred popular online slot titles and led the Quickfire development team at Microgaming.

2016 WPT National Marrakech High Roller Results - Spanish poker pro Nabil Cordoso boosted his career earnings by a useful $66,873 this week when he was awarded the first prize in the PMU.fr WPT National Marrakech High Roller event in Marrakech.

GreenTube and Chopsticks In Partnership - Novomatic Interactive subsidiary Greentube has announced that it has signed a partnership deal with the Gibraltar-based mobile app developer Chopsticks In The Apps Ltd through which it will organize distribution of Chopsticks games through its online, mobile, social and land-based channels.

DraftKings Investigating Collusion Complaint - The stigma of cheating has surfaced again in the daily fantasy sports sector following allegations that two players colluded in a million dollar contest at DraftKings.

Singapore Gambling Exemptions Granted - The issue of certain state-linked commercial organisations being granted exemptions from Singapores tough anti-online gambling laws has been on the table for the past few months and has been the subject of opposition complaints; protest petitions and general argument.

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