32Red have announced record results for the first 6 months of 2011. The company has revealed that Gross Win is up 42% to £11 million from £7.8 million in the first half of 2010.
32Red Plc were very happy with the 42% Gross Win increase from 2010 to 2011 seeing that the H1 2010 numbers were 33% up on numbers in H1 2009. This means that revenues in H1 2011 are a huge 89% up on those for the same period in 2009.
In terms the overall performance, other products such as poker, sports betting and bingo for example represented a 67% increase from £0.5 million to £0.9 million. The majority of the numbers and revenues have come in the form of their main operation, 32Red Casino. Here is a brief summary of the results:
- Gross Win (Revenue) is £9.5 million – increase of 41% from H1 2010
- Active Casino Customers at 21,475 – increase of 12% from H1 2010
- Casino Player Yield (Player Value) £438 – increase of 22% from H1 2010
- New Casino Players at 13,901 – increase of 13% from H1 2010
- Casino Cost Per Acquisition at £118 – was £119 for FY 2010
Gross Win for the first 19 days in July are up 67% on the same period in 2010. The statement also says that “the strong H1 trading performance and current trading is likely to see the Company deliver revenues and profits that are significantly ahead of current market expectations for 2011”.
Speaking about the results, Ed Ware, 32Red CEO, said:
“This exceptional year on year growth is particularly pleasing given the strong trading experienced during the comparative period. Our marketing has become more effective and has yielded encouraging results. We will build investment in this area throughout the remainder of the year”.
Ware was also “delighted to have renewed the sponsorship of Swansea City Football Club for a further three years in February” which will boost their presence as the club gained promotion to the Premier League. He concluded that 32Red’s focus is the UK market but “the Board continues to monitor developments in Europe.”