Microgaming Casino Reports Increased H1 Revenues
32Red Plc, the London listed online gambling group which runs the highly successful, Microgaming-powered online casino, reported excellent revenues for the first half of 2016.
The group announced a record high in net gaming, with revenue up 63% in the first six months of the year. Revenue climbed to £30.4 million year on year.
32Red's online casino division did exceptionally well, with revenue up 24% year on year to £21.2 million.
One of the main contributors to 32Red's success came from Roxy Palace Casino, another Microgaming powered site that the group acquired in July 2015. All in all, Roxy Palace contributed £5.8 million to 32Red's revenues in H1-2016.
Strong Mobile Growth
Thanks to the excellent Microgaming mobile portfolio of games, 32Red.com reported that its mobile platform remained the fasted growing vertical in revenue and new player acquisition. Revenue in the group's mobile side was an impressive 45% year on year.
Other interesting numbers put out by 32Red showed:
- An increase of 32% to #23.5 million in the group's core business thanks to strong organic growth.
- Increased revenue of 33% year on year in 32Red's Italian operations.
32Red Casino Looks Ahead
According the chief executive officer of 32Red, Ed Ware, a number of factors contributed to these numbers, including focus on organic growth and returns-oriented marketing.
"These results reflect the core strengths of the business: our strong brands, first class customer service and marketing expertise," said Ware.
"32Red is in excellent health with a number of exciting opportunities ahead. We have a focused strategy to deliver continued organic growth as well as potential acquisition opportunities and we continue to look to the future with confidence."