September and October are usually the months in which online gaming companies start to reveal their half yearly figures, with those who have done well generally being quicker off the mark than those who have not done so well. 32Red have been quick to reveal their figures and the signs are good as they have reported record revenues across the board.
32Red have been concentrating their efforts on mobile gaming over the past few months and their advertising campaigns look as though they have paid off because the figures are up 8% on the same period last year and now account for 17% of their total revenue. Total sales increased by a total of 15% for the first six months of the year and now stand at £19million (€22.6 million/$30 million).
Overall revenues were up thanks to a 34% rise in active casino players, with 42,455 players now having an active account. Share earnings were up by 11% per share, and as of 30th June the company had £6.4million in cash safely banked away, a 60% increase on the same time last year.
The Chief Executive Officer at 32Red is Ed Ware who was quietly “pleased” by the six monthly figures. He said, “We are pleased to report another strong performance both in terms of revenue growth and in underlying profitability, which has continued into the second half of the year. Our strategy remains to invest in marketing to regulated markets with a constant focus on maintaining the best user experience enjoyed by new and existing players alike.”
32Red have recently ventured into the Italian gaming markets, though their performance has not gone quite as well as expected so far, but they have since announced a sponsorship deal with Serie A side Bologna and hope to see an increase very soon. Mr Ware continued by saying, “While early trading in the Italian market has been slower than expected, there continues to be month on month improvement and with our new Bologna partnership, we remain confident that Italy will develop into an important and lucrative market for 32Red.”
If the companies recent figures are anything to go by the Italian branch of 32Red will no doubt be a huge success, just like its counterpart in the United Kingdom is right now.
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