32Red Plc, the London listed online gambling group, released its preliminary results for 2011 and showed that pre-tax profits had doubled compared to the previous year. The company said that total revenue was up 47% to £23.57 million, while casino revenues were up a similar percentage to £21.84 million. 32Red Plc runs the popular Microgaming powered 32Red online casino, which has won the title for Casino of the Decade and many other awards.
Other interesting facts showed that new depositing players were up 42% from 2010, while active depositing casino customers climbed 47%. Poker revenues climbed 15% to £1.06 million, while revenue from bingo and betting products were up 96%.
32Red Plc rolled out plans to expand into the newly regulated Italian gambling industry, although the group will remain focused on its traditional market, the United Kingdom.
“32Red progressed considerably in 2011 and we have improved key metrics right across the business,” said the Chief Executive Officer of the company, Ed Ware. “While we remain focused on the United Kingdom, we also look forward to expanding our profile in the regulated market in Italy where we intend to utilize our core skills and apply our business philosophy to establish the 32Red brand.”
The first two months of 2012 have also been particularly profitable, with revenues up nearly 70% compared to the same period in 2011. 32Red Plc said that the growth in new player numbers was the result of intensive marketing.
