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32Red’s Positive Results for the first half of 2011

32Red, an iGaming operator revealed that their total revenues for the first six months of 2011 increased by 42% to £11 million when compared to last year’s figure.

This result was a record according to 32Red who also released their earnings before interest, tax, depreciation and amortisation that showed a significant 156% increase to £1.47 million over last year’s figure and their gross profits which maxed at £3.17 million.

A 12% rise to 21,745 was reported by 32Red as the Active Casino Clients which generated £9.5 million in revenues. This figure was 41% better that the previous year.

32Red also reported a 27% increase to £438 in individual casino player yield with a 13% improvement in new players to 13,901 and a cost per acquisition of £118.

Ed Ware, 32Red’s Chief Executive Officer stated that “the excellent performance in the first half of 2011 is particularly pleasing as it builds on a very strong trading year in 2010.”

“Recruitment of new players remains strong and the launch of a new series of 32Red television advertisements allied with additional exposure from our Swansea football sponsorship will aim further to increase our market share during the second half of the year.

“Further to our victory over William Hill in the High Court, the judgment which was handed down in January firmly establishes our intellectual property rights and has enabled us to recover infringing domains unconditionally from other operators.

“The underlying growth in the business has continued into July and August with revenues up 51 percent on the corresponding period in 2010. We will continue to focus the 32Red brand in the UK and are encouraged by the progress a number of European countries have made towards creating their own regulatory frameworks.”

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