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32Red Trading Update : Record Revenues
Thursday July 18,2013 : RECORD REVENUES FOR 32RED IN TRADING UPDATE
Softer trading in Italian market offset by strength of core brand
Online gaming operator 32Red Plc has presented record revenues in its First Half 2013 trading update despite softer than expected revenues derived from the Italian market.
The company reported a 15 percent increase in Total Gross Win to GBP 19 million (H1/2013: GBP 16.5 million) and Gross Win Revenue of GBP 16.9 million, up 17 percent compared to the same period last year.
Active customers were up 34 percent despite a decrease in new casino players, a lower player yield and smaller casino cost per acquisition.
32Red.it expects further progress from the launch of a mobile casino and has seen revenues consistently grow month on month despite initial trading being softer than expected.
Other key performance indicators include:
- Casino revenue of GBP 17.4 million (H1/2012: GBP 15.2 million), up 14 percent
- Total Underlying revenue of GBP 18.5 million (H1/2012: 16.5 million), up 12 percent
- Italy revenues of GBP 500 000
Ending on a positive note, the company said the outlook for the full year and current trading are in line with expectations. And that the strength of its core business should offset start-up losses for its Italian operation, leaving the board's financial expectations for the full year unchanged.
Current trading shows a Gross Win for the sixteen days to 16 July up 13 percent on the corresponding period in 2012.
Commenting on the performance, Ed Ware, CEO of 32Red, said:
"We are pleased with another strong performance from 32Red. We have maintained our clear focus on providing a high quality experience for our players which is underlined by our trading performance.
"It is also supported by the results from the recent Mystery Shopper examination undertaken by etruvian across the industry; the survey identified the 32Red customer experience as the very best in the market place"
Danske Spil Bingo Moves to Microgaming -
The national lottery of Denmark, Danske Spil, is live on the Microgaming Bingo Network. Danske Spil, the Danish national lottery, is live on the Microgaming Bingo Network following a change to its licence conditions.
Quickfire live on Strendus -
Quickfire powered by Microgaming is extending its reach in the LatAm region with the signing of Strendus. Strendus is the online division of Logrand Entertainment Group. The group comprises several companies that operate gaming and entertainment establishments in Mexico, running 14 land-based casinos in total.
Quickfire content live on BetatHome -
Online gaming and sports betting company bet-at-home was founded in 1999. Today the company has 4.8 million registered customers around the world, offering sports betting, casino, live casino, Vegas games, poker and virtual sports.
Microgaming has donated £30,000 between four charities -
Gift of Giving provides Microgamingís customers the opportunity to vote for one of several charities in their region. In lieu of Christmas gifts, £30,000 is split equally between four global regions: Isle of Man, UK and Europe, Africa, and Rest of the World.
Entertainment Betting Odds: 90th Academy Awards -
The Shape of Water leads Sundayís 90th Academy Awards (8 PM ET, ABC) with 13 Oscar nominations, but when it comes to Best Picture, this highly-acclaimed film is a +140 second-favorite behind Three Billboards Outside Ebbing, Missouri at Ė115.
Fair Play Bets and QuickFire in Deal -
Fair Play Bets enjoys an unrivalled reputation for an outstanding player experience, with secure deposits and withdrawals, surprising casino bonuses and committed customer support. Fair Play Bets is licensed in UK, Malta and Curacao.
Cavaliers Aim to Take Down Wizards on 2/22/18 -
The Cleveland Cavaliers have looked like a different team since making their moves at the trade deadline. The Washington Wizards are up next for the Cavaliers, who will be at home after the All-Star break.
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