32Red Revenues Up 26%

26 August 2008

32Red, an online casino, poker and sports betting operator, showed an increase in sales from H1 2007 of 26 percent at £6.6 million. Its first-half earnings before interest, taxes, depreciation and amortization were up 17 percent at £1 million.

These numbers were seen by the United Kingdom-based operator as “very encouraging.” In a prepared statement, Edward J. Ware, chief executive of 32Red, attributed the growth to increased player numbers and an improved yield per player.

“The re-focusing of our efforts to accelerate the growth has delivered immediate results, both in terms of revenue growth and improved bottom line profit,” Mr. Ware said. “We continue to investigate possible new gaming-related products to add to our existing portfolio, although we remain focused on taking 32Red's casino business to the next level.”