42% Revenue Increase
THE ONLINE gaming company 32Red has proudly reported a 42% increase in its revenue in the first half of 2011 to £11m. The good news comes after a sharp rise in casino customers who signed up to its award winning Microgaming powered 32Red.com online casino.
Ed Ware, the Chief Executive of 32 Red who said: “Recruitment of new players remains strong and the launch of a new series of 32Red TV ads allied with additional exposure from our Swansea football sponsorship will aim further to increase our market share during the second half of the year.”
Currently, Microgaming boasts 22,000 online casino customers. Avid gamers flock to the site to enjoy the diversity of gaming on offer. 14,000 of these customers were acquired in the reporting period. In addition, the average yield per player was reported to be £438.
To add to its impressive news, according to 32Red Plc, its operating profits grew 156% to £1.5 million. It also announced its first ever interim dividend of 0.5p. Factors which may have contributed to this rise could also be down to the company winning its high court case against rival online gambling company, William Hill, over the inappropriate use of one of 32Red’s trademarks in January. This helped with investor confidence and cleared the way for a sound first half performance.
Other things that pushed up numbers included a new marketing campaign and greater exposure through sponsorship deals with popular sports teams.
It should be noted that 32Red.com was voted the Casino of the Decade and has won plenty of other awards over the years. The site is licensed by the Government of Gibraltar and carries eCOGRA’s Safe and Fair seal.
