Another stellar performance from 32Red online gambling group

Online gambling group 32Red has issued a trading update, showcasing double digit growth for the fifth consecutive year.

Group CEO Ed Ware reported a 25 percent increase in net gaming revenue, with the Italian business doing especially well.

Highlights of the report include:

* Online casino up 27 percent year-on-year to GBP 29.3 million (FY 2013: GBP 23.1 million);

* Italian revenues soared 74 percent from GBP 600,000 in 2013 to GBP 1.1 million in 2014;

* Total net gaming revenue up 26 percent from to GBP 32.1 million (FY 2013: GBP 25.4 million);

* Mobile revenues up 89 percent on 2013 and now represent 32 percent of total casino revenues (FY 2013: 21 percent). Over one half of all new players are now recruited via smartphones and tablets, Management reports;

* Improved active player numbers, up 15 percent to 82,155 (FY 2013: 71,266);

* Better average customer gaming yield of GBP 510 (FY 2013: GBP 485).

* Early trading in 2015 strong across the company’s products, with revenues for the first 20 days in January, up 31 percent compared with the same period last year;

“We performed well throughout the year with an accelerating performance in the second half following increased investment in our business,” said Ware.

“Our marketing and operations have never been in better shape and we are excited by the opportunities for 32Red to further develop this year both within and outside the UK market.”

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