Gibraltar-based online gambling operator 32Red Plc today provided information about the financial performance of its divisions during the first half of the year ended June 30, 2016. The company reported a record high in net gaming revenue during the period in review. It amounted to £30.4 million, up 63% from the £18.6 million posted for the same six months of the previous year.
The gambling operator said that the excellent performance could be attributed mainly to a strong organic growth in their core businesses and that it reflected the effectiveness of their growing marketing investment. Contribution from 32Red’s Roxy Palace business continued growing during this year’s first half. The gambling operator acquired its fellow British online gaming company in July 2015.
Revenue from 32Red Casino totaled £21.2 million during the reviewed six-months, up 24% year-on-year. Revenue from other products was £2.3 million, up 223% as compared to the £0.7 million reported for the same period of the previous year.
The gambling operator said that its casino brand has enjoyed continued growth mainly due to accelerated returns-oriented marketing investment. Mobile remained the fastest growing vertical for the online casino, both in terms of revenue and new player acquisition. Revenue from mobile was up 45% during the first half of the year and accounted for half of the overall figure posted for the period.
32Red’s Italy-facing operations also posted an increase in revenue. It grew 33% year-on-year to reach £1.1 million during the first six months of 2016. The gambling operator said that it will keep on looking to broadening its offering in the country.
Roxy Palace Casino, which as mentioned above was acquired about this time last year, was successfully migrated to 32Red’s Gibraltar operations towards the end of 2015. As a result, the brand generated a total of £5.8 million during the six months ended June 30, 2016.
Commenting on the posted results, 32Red CEO Ed Ware said that he is delighted with the operator’s performance and that it reflects their business’ core strengths – strong online brands and customer service as well as marketing expertize.
The executive further noted that they will remain focused on delivering continued organic growth and will be exploring potential acquisition opportunities.
