 July 31 - 32 Red, one of the industry's most innovative gambling
operators, has announced that revenues from its online casino division
contributed $12 million to its total in the first half of 2008 - a 30% increase
from last year in the same period.
All in all, 32Red showed a 27% increase in total gaming revenues to $13.2
million in the first half of the year, with casino revenues making up over 90%
of this sum.
"The refocusing of our efforts in accelerating the growth of the 32Red
business has delivered immediate results and I am pleased to report a good start
to the year," said the Chief Executive Officer for 32Red, Ed Ware. "In
particular, the casino yield per player is strong and reflects the excellent
player experience enjoyed by 32Red customers. Our distinctive and distinguished
brand continues to stand out and we intend to further expand our UK profile."
Active casino players increased 9.3% compared to the last half of the
previous year, with casino yield rising 26% to $982 per player out of the total
12,283.
32Red's poker offering, however, is still struggling to compete in an ever
tightening market, with its revenues remaining largely unchanged and its online
poker player numbers dipping slightly.
"We continue to explore opportunities to expand the 32Red product
offering and closely monitor regulatory developments in new territories," said
Ware. "We look forward to progressing these projects in the second half of the
year and will update shareholders accordingly."
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