32red First Half Year Revenues Increase by 15% to £19 million
32Red Casino is one of the oldest online casinos, with the best reputation. Branded Casino of the Decade by Casinomeister, an international gaming watchdog and player advocacy website. 32Red Casino has also received online accolades from players, and these online reputations are invaluable. The casino entity is publicly traded on the London Stock Exchange.
In 2013, 32Red Casino posted record revenue and underlying earnings before interest, tax, depreciation and amortisation (EBITDA). Their first half year revenues increased by 15% to £19 million after gaining significant traction with their mobile division.
Overall Sales Improving As Well
32Red mobile accounts for 17% of their total revenue, indicating just how powerful the mobile trend in casino play has become. The casinos total sales increased by 15% over the previous year, and generated £19 million over a six-month period. The reason that 32Red Casino increased their revenue was due to the fact that they achieved a 34% increase in membership, and the total number of active casino players was then up to 42,455.
The consistent membership increase, and number of active players is attributed to the excellent reputation this casino has developed and the positive social media presence.
The Benefits to Stakeholders
32Red added to this highly positive news by pointing out that the earnings per share had increased by 11%, and had seen a 60% rise in cash in the bank. These extremely healthy results for an online casino were merely the latest in a string of good financial results that had been growing in confidence over the previous few years.
Ed Ware, the chief executive of 32Red casino group was proud to announce the casino’s strong performance. He reiterated that the company strategy would be to remain focussed on regulated markets where their concentration on ensuring that all their members, both new and old, would receive the very best user experience. Players around the world have rejoiced in this strong performance and the acknowledgement that it was achieved on the back of high quality services and an excellent online reputation.
Future Growth Appears Healthy
32Red Casino has decided to concentrate on the Italian market, and in order to market themselves had concluded a huge sponsorship deal with Italian Serie A football club Bologna. At the time, 32Red casino felt that their penetration into the Italian market was slightly underwhelming, but that it was surely set to improve.
32Red had done the correct groundwork that was required in order to set them up for these healthy financial results. The casino, knowing the importance of the software that powers the games, had entered an agreement with Microgaming, who certainly deserve a share of the credit.
The real story of 32Red Casino is not the impressive financial results per se, that 32red’s first half year revenues increased by 15% to £19 million, but rather what this casino has offered players. The fact that the virtual recreational experience of casino play is becoming more about the players, and what it will keep offering all its players, is proving to be a profitable line of thinking. This is the real strength of 32Red Casino, and it bodes well for the future of online casino play.