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Casino revenues lift 32Red
Mon, 01 Dec, 2008
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Casino revenues lift 32Red
Tue, 26 Aug 2008, 09:32:00
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Value
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32Red
22.75p
-0.00%
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Casino revenues helped online gaming operator
32Red
post strong half-year figures while prospects for full year also look encouraging after a good start to the second half.
Total gaming revenues rose 26% to £6.6m with Casino revenues contributing £6m, a 31% increase on the same period last year. Pre-tax profit increased to £791,500 from £645,000
The group said the second half of the year has started encouragingly with gross win for the 7 weeks ended 18 August 2008 up 22% on the corresponding period in 2007, again helped by the performance of the 32Red casino during the traditionally quieter summer months.
"The positive current trading performance allied with the exciting opportunities presented by new products and new territories, has led the Board to conclude that prospects for the full year are very encouraging," said the group.
32Red continues to investigate possible new gaming-related products to add to its existing portfolio, although it remains focused on developing the casino business further.
"I am pleased to report an excellent performance during the first half of the year. The re-focusing of our efforts to accelerate the growth of the 32Red business has delivered immediate results, both in terms of revenue growth and improved bottom line profit," said CEO Ed Ware.
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