Online Casino Transfer: News - 32Red Celebrates Half-Year Report

07/31/2010		Online Casino Style: News 32Red Celebrates Half-Year Report
Home History Games News Dictionary		It seems that the difficulties associated with the economic recession over the last 18 months are beginning to recede – at least for some companies. Online gambling industry analysts have not yet been able to determine why or how some of the most popular internet casinos are still reporting losses, while their competitors are beginning to bounce back, reporting some profits, however meager. One of the more fortunate companies is that of the Gibraltar-based internet gambling firm 32Red, which announced this week the results of their half-year report. Business is certainly looking up for 32Red, as their report showed a growth in total gross win to £7.8 million, a jump from the first six months of 2009, which came to only £5.8 million. Much of their success is so far being attributed to the resounding leaps and bounds that their online casino division has made in the last year. 32Red Casino has continued to do exceedingly well through the first six months of 2010. Casino gross win was up as well, with £6.8 million being made over 2009’s £5.2 million. There was a surge in customer growth, with 35 percent more customers signing up for accounts, up to 19,497 active memberships as of the end of June. New players acquired were also up 26 percent from last years numbers, with 12,289 new players coming on to play at 32Red Casino. Meanwhile, the poker division of the internet gambling firm didn’t enjoy quite as much success, following instead industry trends with a drop of 14 percent to £400,000 in revenue; bingo was not nearly as much of a loss, down only 3 percent to £100,000. "Our strong first half performance is particularly pleasing given the challenging economic conditions in the United Kingdom, which remains our core marketplace,” said Ed Ware, speaking as group chief executive. "We believe that the 32Red brand and its core values continue to provide us with the tools to penetrate the online and mobile casino market successfully. Another period of strong recruitment at reduced cost per acquisition rates since the end of 2008 gives us optimism for the prospects of the business going forwards.”

07/31/2010

Online Casino Style: News
32Red Celebrates Half-Year Report

It seems that the difficulties associated with the economic recession over the last 18 months are beginning to recede – at least for some companies. Online gambling industry analysts have not yet been able to determine why or how some of the most popular internet casinos are still reporting losses, while their competitors are beginning to bounce back, reporting some profits, however meager. One of the more fortunate companies is that of the Gibraltar-based internet gambling firm 32Red, which announced this week the results of their half-year report.

Business is certainly looking up for 32Red, as their report showed a growth in total gross win to £7.8 million, a jump from the first six months of 2009, which came to only £5.8 million. Much of their success is so far being attributed to the resounding leaps and bounds that their online casino division has made in the last year. 32Red Casino has continued to do exceedingly well through the first six months of 2010.

Casino gross win was up as well, with £6.8 million being made over 2009’s £5.2 million. There was a surge in customer growth, with 35 percent more customers signing up for accounts, up to 19,497 active memberships as of the end of June. New players acquired were also up 26 percent from last years numbers, with 12,289 new players coming on to play at 32Red Casino. Meanwhile, the poker division of the internet gambling firm didn’t enjoy quite as much success, following instead industry trends with a drop of 14 percent to £400,000 in revenue; bingo was not nearly as much of a loss, down only 3 percent to £100,000.

"Our strong first half performance is particularly pleasing given the challenging economic conditions in the United Kingdom, which remains our core marketplace,” said Ed Ware, speaking as group chief executive. "We believe that the 32Red brand and its core values continue to provide us with the tools to penetrate the online and mobile casino market successfully. Another period of strong recruitment at reduced cost per acquisition rates since the end of 2008 gives us optimism for the prospects of the business going forwards.”