ONWARD AND UPWARD FOR 32RED
Record revenue and EBITDA.
In a post close trading update for the 12-month period ending December 31, 2016, 32Red Plc revealed a record revenue and EBITDA performance driven, it says, by a combination of healthy organic growth in the core 32Red business and a full year contribution from the Roxy Palace business.
Key performance indicators include:
– Net Gaming Revenues (”NGR”), up 28 percent to GBP 62.3 million (2015: GBP 48.7 million)
– 77 percent of revenues derived from regulated and taxed markets (2015: 80 percent)
– Total Casino NGR up 26 percent to GBP 58.5 million (2015: GBP 46.3 million) to represent 94 percent of total NGR (2015: 95 percent).
– NGR from Other Products up 60 percent year on year driven primarily by 32Red Sport
– 32Red moved to profitability in Italian market, in line with expectations
– Strong current trading, up 21 percent on the prior year
"32Red experienced another hugely successful year with profits and revenues breaking previous records, driven by excellent growth in our core Casino products,” Ed Ware, chief executive officer of 32Red said.
“We have continued to deliver progress against our clear growth strategy underpinned by the strength of the 32Red brand, effective return on investment-driven marketing and an enhanced customer proposition”.