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32Red Casino Group Revenues Up

September 14, 2011 - 32Red Casino Group Revenues Up

32Red Plc, the London listed online gambling group has posted very impressive revenues in its interim results for the six months ended 30 June 2011.

The operator reported an amazing 42% increase in revenues for that period to £11 million and in the light thereof, its share price has also risen to record levels that currently sits at 37.25 pence a share.

The significant increase in the number of casino customers who had signed up at its Microgaming powered 32Red Casino is a major reason for the jump in revenue.

32Red.com's vast variety of online casino games as well as its excellent customer support and promotions has resulted in over 22,000 online casino customers flocking to the site with the average yield per player reported to be £438. Of these customers, 14,000 were acquired in the reporting period.

32Red Plc reported that its operating profits grew 156% to £1.5 million and announced its first ever interim dividend of 0.5p.

The fact that 32Red won its high court case against rival online gambling company, William Hill, stemming from the inappropriate use of one of 32Red's trademarks in January also contributed to 32Red's success in the first six months of this year. This victory encouraged investor confidence thus clearing the way for a sound first half performance.

A new marketing campaign and more exposure through sponsorship deals with leading sports teams also helped to push up numbers.

Chief Executive of 32Red, Ed Ware, stated that a new series of 32Red television advertisements together with more exposure from their Swansea football sponsorship is bound to further increase their market share during the last six months of the year.

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