32Red Plc, the London listed online gambling group, announced pleasing first half results for 2012, predicting that it would beat market forecasts for the full year. 32Red saw its revenues climb from £11 million a year ago to £16.5 million in the first six months of this year – an increase of 50%. When examining the first 20 days of July 2012, 32Red Plc noted a 28% jump in revenues year on year.
The group’s flagship online casino, the award winning 32Red Casino, saw an increase of 81% of active casino customers compared to H1 2011, while new casino players were up 93% to just over 18,700.
Ed Ware, the CEO of 32Red Plc. said that the strong H1 trading performance and current trading would likely see the group deliver revenues that were ahead of current market expectations for the year. He said that the company continues to invest in marketing and confirms that profits remain in line with management expectations.
Looking ahead, Ware said that 32Red was looking forward to expand into the newly regulated Italian market by launching 32Red.it, following examples of rival groups such as Paddy Power and William Hill. Ware revealed that 32Red’s Italian brand will be launched in the second half of the year, after the Italian authorities began the process of approving online slot games from December 2012 and onwards.
Ware said that while 32Red Plc recognized the potential for economic and regulatory uncertainty in Europe, the group looked forward to further progress during the second half of 2012. A full interim report will be announced in September, 2012.
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