Profit Reported by UK-Facing Online Casino
By James M
32Red Plc has released its interim results for the six months ending 30 June 2006, which highlights a near 50 percent increase on total revenues against the same period in 2005.

The key financial data shows total revenues up 48 percent on the same period last year to £6.2 million, with casino revenues up 27 percent to £5 million, and poker figures improving 134 percent against the previous six months to £600,000.

However, trading since June 30 has been mixed, following a slow recovery from the football world cup, leading the company to declare that although signs are improving, it may mean that market expectations for the year may not be met.

Nevertheless, 32Red CEO Ed Ware was upbeat about the company’s future outlook. “Trading in the second half to date has not recovered as quickly as anticipated from the gaming industry-wide World Cup slowdown, but our Key Performance Indicators do demonstrate encouraging trends for the future,' he said. 'We believe that the acquisition of Bet Direct in June will significantly enhance the scale and diversity of the business, and are confident that 2007 will present many opportunities for the enlarged group.”

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