Published
OnlineCasinoFinancial

32Red considering new acquisitions amid big revenue rise

The

32Red2
chief executive of 32Red has revealed the online operator is "evaluating potential acquisitions".

Ed Ware made the comments within the firm's 2015 results, which showed net gaming revenue of £48.7m, up 52% year-on-year.

The main revenue driver was the firm's flagship 32Red operation, which reported a 35% increase to £41.7m.

32Red Italy enjoyed a 54% rise to £1.7m.

Roxy Palace, which was acquired by 32Red for £8.4m worth of cash and shares last July, contributed £5.2m.

The overall group's underlying EBITDA, which doesn't include its Italian operations, was up 76% to £11.2m when overlooking the impact of the UK point-of-consumption tax (POCT).

The firm paid £4.8m in POCT during 2015, reducing its underlying EBITDA to £6.4m, a 7% increase.

Overall EBITDA was £5.2m, down 3%, after subtracting a £1.2m investment into Italy.

32Red's cash balance as of 31 December was up 45% year-on-year to £10.3m.

"2015 was a very exciting and indeed record-breaking year for 32Red, achieved despite significant external regulatory and tax headwinds," said Ware.

"These results are an excellent demonstration of 32Red's core strengths – a talented and dedicated team, first class ROI-driven marketing skills and established, highly appealing online gaming brands."

Ware said the firm was confident of strong organic revenue growth in 2016 as it increases marketing investment in 32Red and Roxy Palace.

He added: "We continue to evaluate potential acquisitions that may complement our strong organic growth."
Premium+ Connections
Premium

Revsharks

 
 
Premium

Lynon

 
Premium

PIN-UP Partners

 
Premium

Digitain

 
Premium

Imagine Live

 
Premium

1xBet Partners

 
Premium

RISK

 
Premium

GammaStack

 
Premium

Galaxsys

 
Premium

Sport Generate

 
Premium Connections
Consultancy

SCCG Management

Executive Profiles
Zeal Network SE

Stefan Tweraser

VIP Play

Les Ottolenghi

Scientific Games

Keshav Pitani

Social & App

Spribe CEO exclusive: Simplicity is the foundation

Spribe CEO David Natroshvili speaks to Gambling Insider abou...

Redefining iGaming: A history of crash games

Crash games is a growing vertical that has taken gambling by...

A certain something: What makes crash games special?

Crash games. They’re simple, they’re easy to learn and,...

Smarter innovation to shape the future

Spribe CCO Giorgi Tsutskiridze discusses the past, present a...

Facing Facts: The corner of quarterly contemplation

With Q1 reports out across the industry, Gambling Insider co...

Taking Stock: A guide to key stock prices across the industry

Gambling Insider tracks prices from some of the industry’s...

15 years of Gambling Insider: From the Founders

Over the last 15 years, Gambling Insider magazine has interv...

15 years of Gambling Insider: The Awards over time

Global Gaming Awards Event Manager Mariya Savova gives us he...