Online gaming operator 32Red has cited the success of its internet casino and recently launched sports betting platform as the main reason behind record levels of revenue during the six months to June 30, 2014.
The company reported total gross gaming revenue of £22.6 million (€28.7 million/$38.6 million) in the first half of the year, an increase of 19% on the £17.4 million achieved in the corresponding period last year.
The firm’s casino operation was responsible for £20.7 million of total gross gaming revenue, up 19% from £17.4 million in the previous year, while £800,000 was generated from elsewhere.
In compliance with its new revenue recognition policy, 32Red also reported its net gaming revenue for the first half.
The operator posted total net gaming revenue of £15.2 million for the period, up 20% on the £12.7 million recorded in the previous year.
Of this amount, £14 million came from 32Red’s casino business while just £700,000 was attributed to other sources of net gaming revenue.
In addition, 32Red also reported that for the 21 days up to July 21, gross gaming revenue is up 45% on a relatively weak corresponding period last year.
Ed Ware, chief executive officer of 32Red, said: “We are pleased to report yet another record performance for our business, spearheaded by 19% 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.”
The operator will announce its full interim results on September 24.
source : www.igamingbusiness.com
