32red Plc Report Record H1/2014 Results

Record net gaming revenue leads to 22 percent growth in EBITDA

Respected online gambling firm 32Red Plc has continued to deliver record results in its latest six month interim report.

Key Performance Indicators include for the six month period ending June 30, 2014 include:

– Total Gross Gaming Revenue of GBP 22.6 million (H1/2013: GBP 19 million), an increase of 19 percent.

– Total Net Gaming Revenue of GBP 15.2 million (H1/2013: GBP 12.7 million), up by 20 percent.

– EBITDA GBP 2.3 million (H1/2013: GBP 1.9 million), up 22 percent

– Profit before tax of GBP 1.2 million (H1/2013: GBP 1.3 million), down 7 percent.

– 32 Red Mobile Casino revenues are up 124 percent, and now represent 32 percent of total casino sales.

– Interim dividend up by 25 percent.

– Active casino players in first 6 months up 20 percent to 50 890 (H1/2013: 42 455)

– Casino player yield GBP 400 (H1/2013: GBP 398)

– New Casino players recruited up 35 percent to 23 566 (H1/2013: GBP 17 459)

– Casino cost per acquisition: GBP 180 (H1/2013: 159)

Ed Ware, chief executive officer commenting on the results said:

"We are delighted to report yet another record performance with 20 percent growth in net gaming revenues leading to a 22 percent growth in EBITDA. It is very important to us that the quality of our service and the experience we provide to our players keeps pace with the growth in the business.

"The recently launched 32Red Sports betting site is performing well and complements our growing sponsorship in British horseracing and our exciting partnership with Rangers Football Club. Current trading is strong and I look forward to a good finish to 2014."

Current trading in H2/2014 has started strongly with gross gaming revenues for the first 12 weeks up 23 percent on the corresponding period in 2013.

Online Casino News Courtesy of Infopowa

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