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32Red Plc Interim Results Show 42 Percent Rise in Revenues


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32Red Plc, a successful Gibraltar-based online gambling firm which owns and
operates 32Red Casino, recently released its interim financial results, which
showed that in the first half of 2011 its overall revenues rose 42 percent
year-on-year to reach the £11 million mark.

The company confirmed that this
figure broke its previous record for six month revenues, and that its earnings
before tax, interest, amortisation and depreciation rose 156 percent over the
same period last year to £1.47 million (before share options and other items),
with a gross profit of £3.17 million.

The 32Red financial results also revealed that its active casino players
for the first six months of 2011 jumped twelve percent year-on-year to 21,745,
generating in excess of £9.5 million in revenues. This figure marked a 41
percent improvement compared to the same period in 2010.

32Red Casino Showed 13% Rise in New Players

In addition, 32Red’s individual casino player yield was reported as £438, which
marked a 27 percent increase compared with the first half of last year. The
32Red financials also showed a 13 percent rise of new casino players to 13,901
and a CPA (cost per acquisition) of £118.

Said 32Red CEO Ed Ware, ‘The
excellent performance in the first half of 2011 is pleasing as it builds on a
very strong trading year in 2010. The underlying growth in the business
continued into July and August with revenues up 51 percent on the corresponding
period last year.’

‘We will continue to focus the 32Red brand in the UK and are encouraged by
the progress that a number of European countries have made towards creating
their own regulatory frameworks,’ explained Ware.

Advertising Expected to Aid 32Red Revenue Rise

‘In addition, recruitment of new players remains strong and the launch of a new
series of 32Red television ads allied with additional exposure from our Swansea
football sponsorship will aim further to increase 32Red revenues and market
share during the second half of the year.’

The 32Red chief also commented
about the company’s victory over large UK land and online sports betting outfit
William Hill in the UK High Court in January this year, which established
32Red’s intellectual property rights, thus enabling the firm to recover
infringing domains from other online gambling operators.

32Red.com is powered by Microgaming online casino software, and features over
450 games.

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