Online Casino Profits in the Red
By Jon Young
32Red PLC posted a 47 percent rise in full-year revenue but reiterated its December warning of full-year combined operating results falling 'significantly' below current market forecasts on poor trading at Bet Direct.

The online casino, poker and sportsbetting operator said its full-year revenue rose to £14.36 million, including £3.45 million from the Bet Direct business acquired in June 2006.

32Red said total active customers rose to 84,595 from 17,597 in 2005 and new customers rose to 42,866 from 14,451 in 2005. Bet Direct, however saw a fall in active customers to 46,139 and new customers to 11,115 since acquisition.

The company was recently voted ‘Best Online Casino’ by Casinomeister for 2006 despite its December warning.

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