NEW! Investment Companies Centre

Casino revenues lift 32Red

Related Companies

  • Travel & Leisure

    • News for Spread Betters

    PreviousPrevious
    NextNext

    There's a new Investor Edition of CMC Markets' spread betting platform... and it's exclusive to DigitalLook.com users...

    Get full details about Marketmaker:Investor Edition here. Advertisement

    Date: Tuesday 26 Aug 2008

    LONDON (ShareCast) - Casino revenues helped online gaming operator 32Red post strong half-year figures while prospects for full year also look encouraging after a good start to the second half.

    Total gaming revenues rose 26% to £6.6m with Casino revenues contributing £6m, a 31% increase on the same period last year. Pre-tax profit increased to £791,500 from £645,000

    The group said the second half of the year has started encouragingly with gross win for the 7 weeks ended 18 August 2008 up 22% on the corresponding period in 2007, again helped by the performance of the 32Red casino during the traditionally quieter summer months.

    “The positive current trading performance allied with the exciting opportunities presented by new products and new territories, has led the Board to conclude that prospects for the full year are very encouraging,” said the group.

    32Red continues to investigate possible new gaming-related products to add to its existing portfolio, although it remains focused on developing the casino business further.

    “I am pleased to report an excellent performance during the first half of the year. The re-focusing of our efforts to accelerate the growth of the 32Red business has delivered immediate results, both in terms of revenue growth and improved bottom line profit,” said CEO Ed Ware.

    Digital Look have been voted
    "Best Research and Information Provider"

    4th Floor, Bankside House, 107 Leadenhall Street, London EC3A 4AF.
    Registered in England and Wales (registered no. 3678570).