32RED LAUNCHES INTO ITALIAN ONLINE GAMES MARKET
11/29/2012 : 32RED LAUNCHES INTO ITALIAN ONLINE GAMES MARKET
Has the skill to thrive in a larger company-dominated market
The soon-to-kick-off AAMS-regulated online slot market has seen respected online brand 32Red launch its casino table game offering on an Italian localised website at 32Red.it under a remote gambling licence from AAMS.
The company expects to launch its core slots portfolio from December 3, 2012, followed shortly by bingo, poker and mobile casino
Italy's online gambling market is banking on getting a boost with the introduction of online slot games which it hopes will revive and invigorate flagging revenues which were reported as 11 percent down in August 2012.
Other developments to inject new life into the market will see other forms of gambling that include exchange betting and fast-format poker games offered to Italian customers in the future.
Numis analyst Ivor Jones believes 32Red is well aligned to take advantage as a front runner in the market saying its UK performance shows it has the skills to thrive in a market dominated by larger companies.
“Not all of its competitors have cleared all the regulatory hurdles required to start offering slots from Monday morning. But 32RED has ticked all the boxes, hired Italian staff and prepared its online marketing strategy so that it can hit the ground running."
In a statement to the stock market Thursday, Ed Ware, chief executive of 32Red said: "We are very pleased to be one of a relatively small number of online casino operators fully approved to trade in Italy.
“We believe the market there provides a great opportunity for us to establish a new and regulated income stream for 32Red especially with the imminent introduction of Slots. Our Italian team has been hand-picked and it is ready to extend our reach and excellent reputation into Italy.”