Onward And Upward For 32red

ONWARD AND UPWARD FOR 32RED

01st February, 2017 at 12:34:24
Source: http://www.azonlinecasinos.com

Record revenue and EBITDA.

In a post close trading update for the 12-month period ending December 31, 2016, 32Red Plc revealed a record revenue and EBITDA performance driven, it says, by a combination of healthy organic growth in the core 32Red business and a full year contribution from the Roxy Palace business.

Key performance indicators include:

- Net Gaming Revenues (''NGR''), up 28% to 62.3 million (2015: 48.7 million)

- 77% of revenues derived from regulated and taxed markets (2015: 80 percent)

- Total Casino NGR up 26% to 58.5 million (2015: 46.3 million) to represent 94% of total NGR (2015: 95 percent).

- NGR from Other Products up 60% year on year driven primarily by 32Red Sport

- 32Red moved to profitability in Italian market, in line with expectations

- Strong current trading, up 21% on the prior year

"32Red experienced another hugely successful year with profits and revenues breaking previous records, driven by excellent growth in our core Casino products," Ed Ware, chief executive officer of 32Red said.

"We have continued to deliver progress against our clear growth strategy underpinned by the strength of the 32Red brand, effective return on investment-driven marketing and an enhanced customer proposition".

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