32Red Financial Results Impress

Internet betting firm 32Red plc has released their first half 2015 financial results, noting higher numbers of active players and Total Gaming Revenue.

Key financial indicators for the first half ending June 30th, 2015 were:

  • Total Net Gaming Revenue up 22 percent to GBP 18.6 million (HY1/2014: GBP 15.2 million).

  • Net Gaming Revenues from Casino were up 21 percent to GBP 17 million (HY1/2014: GBP 14 million).

  • Total Net Gaming Revenues of GBP 18.6 million (HY1/2014: GBP 15.2 million), an increase of 22 percent.

  • Active casino customers increased 22 percent to 62214 .

  • Casino player yield was GBP 380 (HY1/2014: GBP 400).

  • New casino players up 12 percent to 26407.

  • Casino player cost per acquisition was GBP 197 (HY1/2014: GBP 180).

  • Mobile now represents 42 percent of Casino GGR (HY1/2014: 32 percent).

Italian betting highlights were:

  • Net Gaming Revenues from 32 Red Italian Casino were GBP 0.9 million representing an increase of 67 percent (H1/2014: GBP 0.5 million).

  • 4285 new players were recruited (HY1/2014: 3084).

  • 32Red said it will continue to invest in the Italian market to grow market share and plans on introducing new products later this year.

Commenting on the results 32Red CEO Ed Ware said, "Our continued focus on customer service, combined with increased marketing expenditure and cross sell from supporting products has driven double digit organic revenue growth in the 32Red casino in the half year."

"We recently announced the acquisition of the Roxy Palace business and I am delighted with initial trading and the integration progress. The combination of this earnings enhancing acquisition allied with our strong organic growth provides a strong platform for continued growth and we look forward to the future with confidence."

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