32Red Finances Recover
18th January, 2010
According to an article written on eGaming Review, 32 red has recovered from its poor performance during the first half of 2009 after releasing its final year figures demonstrating £12.8m which is 1.6% lower than 2008 at £13m.
The online casino brand gross win for the second part of 2009 was up 18% on the first half of the year. The first half of this year fell by 11% year on year from £6.4m in 2008.
Chief Executive of 32red, Ed Ware, commented that the withdrawal of 32 Vegas Casino on the 4th August by William Hill Online when 32 red sued them for copyright infringement was ‘a significant factor in the improvement in 32red’s performance over the second half of the year’
32Red Casino had a gross win of £11.5m for 2009 which was 1.7% down on the £11.7m in 2008. 32Red Casino led the company’s recovery during the second half with revenues up 21%.
The chief executive said that the company is looking to increase marketing investment this year including the launch of 32red bet with is running on Global betting exchange’s ibroker platform.
32vegas, established in 2006 on Playtech was transferred to WHO in October 2008. Since then WHO has transferred all of its players across to a new brand 21nova on 3rd August 2009.
By Faye
