There is always a great deal of interest when online gaming companies announce financial reports, especially at the moment as many are suffering because of the current austerity measures that are in place around the world. One company though is more than holding its own right now and that is 32Red, and today they have announced record revenues for the first six months of the year.
Overall 32Red have announced an increase of 15% on the same period last year, a figure that relates to an increase of £2.5miilion to £19million. 32 Red Casino is the main reason for the increased figures because they have reported a 34% rise in the number of active casino members compared to the same period last year, while revenues for the casino were up 17% for the same period to £16.9million.
Those figures include an initial contribution of £500,000 from their Italian operation, a contribution that was lower than expected, but with slots being launched in Italy in December and mobile casino being launched later this year those figures are expected to rise when the annual reports are announced in six months time.
Speaking on the slow start to the Italian section of the business Ed Ware the CEO at 32 Red had this to say. He said, “As with a lot of other new entrants to the Italian market, we are finding progress slower than expected. However, we remain confident that this will develop into an important and lucrative territory for 32Red.”
The current figures do not include the compensation from William Hill in respect of the court case that has recently been concluded, compensation that could rise to as much as £1.25million by the time all the payments have been made. All in all 32Red are more than holding their own in the online gaming markets right now, and the future is certainly looking bright for everyone connected with this forward looking company.