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32 Red half year revenues down 11%

The challenging world economic environment has adversely impacted popular online casino group 32Red, which this week reported H1,2009 numbers showing an 11.2% decline in revenues to £5.8 million (H1,2008: £6.4 million).

The declining revenues came despite more active players on the core Internet casino operations; there was a rise of 23% to 14,490 in the number of active players using the facilities, along with an increase in new sign-ups of 19% to 9,733, thanks largely to a successful television campaign.

CEO Ed Ware said that despite the disappointing figures, the company was well poised to take advantage of improvements in the economic climate.

Commenting on company highlights, Ware noted the advent of 32Red Rummy and 32Red Spreadbet in the first quarter, along with a sponsorship of the Swansea football club which will run through to 2011.

Investments in operational technology had enabled the firm to predict savings of £400,000 a year, he revealed.

Source: InfoPowa News

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