Internet betting software developer 32Red has published its full year 2014 financial results, noting an increase in revenues and a large jump in active players.
Key financial highlights for the full year ending December 31st, 2013 were:
Annual revenues of £38.8 million (2012 FY: £32.1 million)
Noteworthy growth over the past four years which has seen annual revenues doubling.
Online casino operations the main contributor at £35.6 million - well up on the 2012 comparative of £30 million
Newly launched Italian operations going well and already delivering £1.3 million in revenues
Number of active players up 24% to 71,266, but numbers of new players declining to 38,033 (2012 FY: 41,918)
Mobile casino activity remained buoyant with revenues up 136% on the previous year. This part of the group generated a third of new player sign-ups.
Commenting on the results 32Red CEO Ed Ware said, “I am delighted to report a fourth successive year of double digit revenue growth. Our 32Red casino product continues to go from strength to strength. Trading momentum has continued into 2014 and I am confident that our recent step up in marketing investment, increased focus on CRM and the bolstering of our board leave us well placed to make further progress in the year.”