32Red hails “strong growth” in H1

ne operator 32Red has posted its interim results for the six months ended 30 June 2016, reporting record net gaming revenue (NGR) for the period of£30.4m, a year-on-year rise of 63%.

EBITDA performance also climbed to an H1 record, with the £4.5m recorded representing a 258% increase over the same period in 2015.

Casino NGR grew to £21.2m, up 24% from the £17m reported for H1 2015, while Roxy Palace, acquired by 32Red in July 2015, contributed £5.8m to total NGR.

32Red confirmed that mobile casino has been a key driving force behind this growth, making up 50% of total casino revenues compared to 42% in 2015.

Profit before taxation also spiked, rising 2,284% to £2.5m.

Ed Ware, 32Red CEO, said: “We are delighted to report a record revenue and profitability performance for 32Red in the first half of 2016 which has been driven by strong growth across our business and brands.

“Current trading remains strong with like-for-like NGR up 4% on very strong comparatives in the second half to date.

“Underpinned by our strong online gaming brands and exciting customer-focused offer, the board remains confident of meeting its expectations for the full year.”

32Red also announced today the renewal of its contract with Microgaming, which “cements Microgaming as 32Red’s major technical and content supplier” for a further five years.

Ed Ware commented: “We have enjoyed a long and strong partnership with one of the world leaders in digital gaming expertise and are very excited to have strengthened our relationship in a way that provides 32Red with further opportunities to invest in and develop our business.”