Parent company of the award-winning Microgaming online casino, 32Red Plc has posted excellent numbers for 2016.
The CEO of the London-listed group, Ed Ware said that 2016 was a "record year for revenue and profits", with corporate revenues growing 28% to £62 million year on year.
On February 23rd, the Stockholm listed Kindred Group (formerly Unibet), announced a deal worth £175 million, whereby it would acquire 32Red Plc.
The 2016 report was a cherry on the top of an exceptional year for 32Red.
Highlights of the company's report included:
- EBITDA doubled to £10.6 million.
- Corporate profits were up 511% to £6.5 million (2015 was £1.1 million).
- Regulated market performance contributed 77% of net gaming profits.
32Red CEO Comments on 2016 Numbers
Ed Ware was thrilled to introduce another record annual performance from 32Red.
"In 2016 the Group delivered continued strategic progress across the business with outstanding growth on mobile, further successful product enhancements and highly successful marketing investment, all the while maintaining one of the highest levels of regulated revenue amongst our peers," he said. "This outstanding operational progress has resulted in another hugely successful financial outcome with EBITDA more than doubling and revenues rising by an impressive 28% to exceed prior records."
32Red Kindred Acquisition
All 32Red's gaming assets, which include 32Red Casino, 32Red Sports and Roxy Casino will be incorporated onto the Kindred Group platform.
Kindred Group already includes brands such as Unibet, Stan James, Maria Casino and Bingo.com.
"We are confident that Kindred would provide the right fit both operationally and culturally to continue the Group’s growth," said Ware.