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32Red Releases First Half Financials

Internet betting giant 32Red has released its latest financial results, noting record revenues for the first half of 2014.

Key financial indicators for the half ending June 30th, 2014 were:

  • NGR up 20 percent to GBP 15.2 million - GBP 14 million from the casino business and GBP 700,000 from other sources;

  • GGR up 19 percent percent at GBP 22.6 million

  • Casino operations contributed GBP 20.7 million of total GGR gross gaming revenue, up 19 percent (H1-2013 GBP 17.4 million)

  • GBP 800,000 generated from sports and other sources

  • Increase in active online casino customers to 50,890, a rise of 20 percent

  • New online casino player registrations up 35 percent at 23,566

  • Mobile revenues now produce 32 percent of overall GGR - well up on H1-2013's 17 percent

  • Player acquisition costs per head up at GBP 180 due to marketing costs (H1-2013 GBP 159)

  • Average player yield slightly up at GBP 400 (H1-2013 GBP 398)

  • Italian online casino GGR up 130 percent to GBP 1.05 million

  • Italian online casino NGR up 94 percent to GBP 510,000

  • Italian active players on the rise at 5,793 (H1-2013 1,887)

  • Lower impact from World Cup football distractions than expected with GGR up 45 percent over the 21 days preceding July 21

Commenting on his company's performance 32Red CEO Ed Ware said, “We are pleased to report yet another record performance for our business, spearheaded by 19 percent growth in the 32Red casino. The initial results from our recently launched 32RedSport, which provides players with seamless access to a premium online and mobile sports betting product, have also been encouraging.”

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