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32Red Plc confident after first half sets new revenue and earning’s records

32Red revealed new company records for revenue and earnings in the first half, and told investors that trading is strong in the second half so far.
casino chips jumping out of mobile phone / tablet screen
Mobile now accounts for 50% of casino revenue

Online betting group 32RED Plc (LON:TTR) is looking forward with confidence after marking a 63% rise in net gaming revenue, to £30.4mln, in the six months to June 30.

This record breaking revenue performance similarly set a new benchmark for the group’s half year earnings with EBITDA of £4.5mln, up 258% compared to the first half of last year.

A highlight of the results was the growth of mobile based casino gaming, which now represents 50% of the group’s total casino derived revenues (in H1 2015 it was 42%).

32Red told investors it was confident it would meet expectations for the full year.

“Current trading remains strong with like-for-like NGR up 4% on very strong comparatives in the second half to date,” said Ed Ware, chief executive.

“Underpinned by our strong online gaming brands and exciting customer-focused offer, the board remains confident of meeting its expectations for the full year."

Ware added: “We are also delighted to announce today the renewal of our contract with Microgaming.

“We have enjoyed a long and strong partnership with one of the world leaders in digital gaming expertise and are very excited to have strengthened our relationship in a way that provides 32Red with further opportunities to invest in and develop our business.”

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32RED Timeline

Newswire
January 21 2016

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