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Record H1-2013 Earnings For 32red

Another record half-yearly performance from popular online casino operator.
Online casino operator 32Red has posted another impressive set of half-yearly results, reporting record performance numbers in H1-2013.
Highlights of the report included:
* Strong growth in mobile operations, which now deliver 17 percent of revenue - well up from 8 percent in the comparable period last year.
* Total sales up 15 percent year-on-year to GBP 19 million.
* A 34 percent increase in active casino players to 42,455.
* Underlying EBITDA soared 39 percent from GBP 1.8 million to GBP 2.5 million.
* Profit before tax up 12 percent to GBP 1.3 million (H1-2012: GBP 1.2 million).
* Earnings per share up 11 percent.
* Cash on hand at end June 2013 of GBP 6.4 million - up 60 percent y-o-y.
Current trading has started well with revenues up 27 percent compared with the same period last year.
Chief Executive officer Ed Ware said:
“Our strategy remains to invest in marketing to regulated markets with a constant focus on maintaining the best user experience enjoyed by new and existing players alike.”
He added that the company's recent sponsorship of a leading Italian football team would help its efforts in the Italian market.
“While early trading in the Italian market has been slower than expected, there continues to be month on month improvement and with our new Bologna partnership, we remain confident that Italy will develop into an important and lucrative market for 32Red,” Ware said.

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Gambling News :

William Hill Chairman Not Stepping Down - There are no plans for Gareth to step down. He is leading the CEO search process, which is well advanced, and is working with Philip Bowcock to deliver the key priorities for the business.

Canadian Lottery Looking at Online Gambling - The reaction of other provinces is not known, but the Newfoundland and Labrador government was apparently less than enthusiastic about the prospect, which it did not regard as a priority.

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Lightning Box Games in deal with WIlliam Hill - Sydney-based slot design specialist Lightning Box Games has signed an agreement to supply its content to William Hill’s licensed betting offices in the UK.

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