32Red Suspends Shares, Delays Release of Interim Report

28 September 2007

Trading in London-listed 32Red has been suspended after the company today missed the deadline to publish its interim results.

In a note the London Stock Exchange, the company attributed the delay to the impact of International Financial Accounting Standards (IFRS) on the sale of its BetDirect brand.

"The company expects that the half-yearly report will be published when there is greater clarity in relation to the sales process,'' it said.

Last week, the Gibraltar-based operator confirmed negotiations were underway to offload BetDirect, which it acquired from Sportech in 2006 for £12.5 million.

Irish bookmaker Boylesports was named as a possible suitor though has yet to comment on the rumors.

In light of the suspension, 32Red maintains a market value of over £21 million.