32Red Has Record Setting Year

Internet betting firm 32Red has released its full year 2015 trading update, noting that they saw their net gaming revenues rise 51% to £48.6 million.

Key financial numbers in the update were:

• Flagship 32Red casino revenues were up 34 percent year-on-year at GBP39.3 million;

• Other operations accounted for GBP 2.4 million - a 42 percent y-o-y increase;

• Italian operations delivered GBP 1.7 million in NGR - up 54 percent year-on-year.

Commenting on his company's performance 32Red CEO Ed Ware said, "I am delighted to report a record revenue performance for 32Red in 2015, despite significant regulatory and tax headwinds. This excellent outcome is a reflection of the strength of the 32Red business, our talented and dedicated team, as well as our first class marketing and appealing brands."

"As a result of the strong organic growth delivered throughout the year as well as the smooth integration of the Roxy Palace business, the Company expects to report EBITDA slightly ahead of expectations for 2015 when it announces its preliminary results on Thursday 10 March 2016."

"The acquisition of the Roxy Palace business in July was a perfect fit for us, complementing the strong organic growth at 32Red which has accelerated in direct response to increased and effective marketing investment in the year. Marketing expenditure will be increased again in 2016 and I expect to report further strong progress across the business."

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