32Red Casino has revealed that pre-tax profits have doubled for 2011 up to £2.12 million.
Net Gaming Revenues has gone up by 48% to £25.03 million (£16.95 million in 2010) whilst EBITDA went up 70% to £2.8 million from £1.64 million in 2010. Overall profit before taxation increased 102% to £2.12 million (from £1.05 million in 2010) whilst EPS was up 96% to 2.94p from 1.50p in 2010. The final dividend was 0.7p per share (from 0.5p in 2010) so the full 2011 dividend was 1.2p per share.
Other important numbers see active depositing casino customers at 39,687. This is a 47% increase from 2010. The casino player yield is £550 – this was £519 in 2010. This means the average value brought on per customer. In terms of acquisition, new casino depositing players was up 42% on 2010 to 27,648. The average cost of a depositing player was therefore £143 – up £10 on 2010 unfortunately. This is due to the market becoming more competitive.
Overall, 2011 has been a good year with 32Red Casino. Ed Ware, who is the Chief Executive Officer said of the latest results that “32Red progressed considerably in 2011 and we have improved key metrics right across the business”. He went on to say the following:
“While we remain focused on the United Kingdom, we also look forward to expanding our profile in the regulated market in Italy where we intend to utilise our core skills and apply our business philosophy to establish the 32Red brand.
“Performance in the first two months of 2012 has been strong and serves as further encouragement to continue to grow marketing investment in the business.”
32Red Casino has had a license granted to operate in Italy which should see their operation grow further in 2012. William Hill also had their appeal dismissed for the use of 32 Vegas . The court case took place between the 5th and 6th of December 2011 where the Court of Appeal said the William Hill’s appeal was a “full scale, wide-ranging attack on the Judge’s analysis and conclusions on virtually every aspect of his judgement”. Finally, current trading looks good for 32Red Casino as it’s up 69% already on 2011.
32Red Casino is a great UK facing online casino that has a solid reputation – it was recognised as the Casino Operator of the Year for the 9th year in a row by CasinoMeister as well as being voted Casino Operator of the Year by eGaming Review.
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