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32Red reveals record revenues for 2015

It is anticipated that earnings will be slightly ahead of expectations when 32Red releases its results for 2015 on March 10.
32Red reveals record revenues for 2015
32Red reported strong organic growth and a boost from an acquisition.

Online casino group 32RED (LON:TTR) told investors it had record gaming revenues in 2015, up 51% at £48.6mln.

32RED, in an update ahead of its financial results, it pointed to a combination of accelerated organic growth (of about 35% on the prior year) for its core business as well as the £5mln contribution from the Roxy Palace business which was acquired in July.

It added that early trading in 2016 has been strong, with revenue for the first nineteen days of the year up 27% compared to the same period of 2015. Roxy Palace contributed some 54% of revenue in this period, it added.

"I am delighted to report a record revenue performance for 32RED in 2015, despite significant regulatory and tax headwinds,” said Ed Ware, 32RED chief executive.

“As a result of the strong organic growth delivered throughout the year as well as the smooth integration of the Roxy Palace business, the company expects to report EBITDA slightly ahead of expectations for 2015 when it announces its preliminary results on Thursday 10 March 2016.”

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32RED Timeline

January 21 2016

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