Highly regarded online casino 32Red has released its 2012 financial results, noting record revenues and strong growth for the third consecutive year.
Key financial indicators for the year ending December 31st, 2012 were:
Third consecutive year of record revenues
Encouraging start to trading in Italian market
Increased investment in marketing results in 41,918 new casino players
Result of damages inquiry in relation to trade mark action against William Hill expected imminently
Evaluation of new regulated markets ongoing
Active 32Red Casino players up 45% to 57,338
Casino player yield £500 (2011: £550)
New 32Red Casino players up 52% to 41,918
Casino player cost per acquisition: £147 (2011: £143)
Casino revenues up 29% to £30 million
Other revnue up 23% to £2.1 million
EBITDA up 23% at £3.4 million
Final dividend at 1.4p - up 17%
Net cash on hand at year-end £4.4 million, up 29%
Commenting on his company's performance 32Red CEO Ed Ware said: "The company has enjoyed another year of considerable progress thanks to the focus and drive of the 32Red team. Not only have we delivered our third successive year of record results in 2012, but we have also successfully launched the 32Red brand in the newly regulated Italian market. Our strategy of increased investment in marketing is delivering strong levels of new player recruitment."
"This year has started strongly and we are confident of further progress in 2013, both financially and operationally, as we continue to grow the 32Red brand in regulated markets."