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Gibraltar – 32Red reports fifth year of double digit growth

By - 9 March 2015

32Red reported yet another successful year of activity, marking its fifth consecutive year of double digit growth in organic revenues.

Total net gaming revenue came in at £32.1m, up 26 per cent whilst profit before tax was £3.4m up 49 per cent. Casino player gross gaming yielded £510m whilst mobile revenues were up 89 per cent on 2013, representing 32 per cent of the total casino revenues.

It reported an increase in marketing investment driving top line organic growth and yielding healthy returns alongside the successful launch of new sportsbook, 32Red Sport, in June 2014.

It reported progress in Italy, with a new marketing campaign launched in early 2015.

Ed Ware, Chief Executive Officer, said: “32Red has achieved another excellent performance and continues to go from strength to strength. Our increased marketing investment during the period has proved very successful and driven the Company to its fifth consecutive year of revenue and profit growth.

“The successful integration of Go Wild UK demonstrates our ability to source and integrate earnings enhancing acquisitions, which build upon our second to none customer service offering. 32Red is a highly cash generative business with a strong balance sheet and I believe there are significant growth opportunities that we are well-placed to take advantage of in the market.

“Despite the recent introduction of a new UK regulatory environment, we have achieved a strong start to the new financial year and I am confident in our ability to continue to grow the business for the long term and look forward to the future with confidence.”

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