Online betting group 32Red plc has released its latest trading update for the period ending December 31st, 2011.
Key financial indicators for the period were:
Revenues up 48% to £25 million (£16.9 million last year).
Revenues up 96% from 2009.
New depositing players up 42% year over year.
Active depositing players up 39% year over year.
Commenting on his company's financial results, 32Red CEO Ed Ware said "2011 has been another year of progress and the sustained top line growth is encouragement to continue to invest in marketing the 32Red brand. Meanwhile, we will take measures to ensure that the level of service and support we provide to our players remains our point of difference and bolsters retention."
"We were thrilled to be recognised by eGaming Review as Casino Operator of the Year in November 2011 and we are also very proud to have recently been awarded GamCare Certification. Once again, the player forum and fair play advocate, Casinomeister, has bestowed the prestigious title of Casino Operator of the Year upon us for the ninth consecutive year, which is deeply gratifying for everyone in the team."
"Although we recognise the potential for uncertainty in the economy at home and abroad, we look forward to further progress during 2012. We also believe Italy represents a good opportunity for 32Red to establish itself as a leading remote gaming operator in a new market and we maintain a watching brief on other regulatory developments around the world."