Less Ads, More Data, More Tools Register for FREE

Pin to quick picksTTR.L Regulatory News (TTR)

  • There is currently no data for TTR

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Post Close Trading Update

21 Jan 2016 07:00

RNS Number : 5103M
32Red Plc
21 January 2016
 

21 January 2016

32Red Plc

("32Red'' or ''the Company")

 

Post close Trading Update

 

Record revenue performance in 2015; full year EBITDA expected to be slightly ahead of expectations

32Red Plc, the award-winning remote gaming operator, is pleased to provide an update on its trading performance for the year ended 31 December 2015. 

2015 Summary

The Company has delivered record annual net gaming revenues in 2015, up 51% to £48.6m (2014: £32.1m). This very strong performance was driven by a combination of accelerated organic growth in our core business (+35% on 2014) and a contribution from the Roxy Palace business that was acquired on 14 July 2015.

Total Net Gaming Revenues

2015

2014

Var

32Red Casino

£39.3m

£29.3m

+34%

32Red Other Products

£2.4m

£1.7m

+42%

32Red Underlying Net Gaming Revenue

£41.7m

£31.0m

+35%

Italy - 32Red Net Gaming Revenue

£1.7m

£1.1m

+54%

Total 32Red Net Gaming Revenue

£43.4m

£32.1m

+35%

Roxy Palace Net Gaming Revenues

£5.2m

-

Total Net Gaming Revenue

£48.6m

£32.1m

+51%

32Red Casino - The increased investment in marketing that is focused on our strict returns criteria, has accelerated organic revenue growth in the UK market. Our focus has remained on the development of mobile device gaming and as a result mobile revenues are up 71% on 2014, representing 44% of total 32Red casino revenues (2014: 32%).

Roxy Palace - The relocation of the acquired Roxy Palace business to Gibraltar and the integration of the operations was completed in December 2015, slightly ahead of schedule. Net Gaming Revenues have been in line with expectations during this integration phase and the Roxy Palace business will benefit from increased and more efficient marketing in the year ahead. This acquisition demonstrates the Company's ability to identify and deliver attractive acquisitions and we will continue to explore further value creating opportunities in 2016.

Italy - We have continued to make progress in Italy in what remains a competitive market. The potential rewards in Italy are significant and we are confident 32Red is in good shape to progress our operations and move towards break even during 2016.

Current Trading and Outlook - Early trading in 2016 has been strong across the Company's products with revenues for the first nineteen days in January up 27% on the corresponding period in 2015 and up 54% including contribution from Roxy Palace.

Commenting on the performance, Ed Ware, CEO of 32Red, said:

"I am delighted to report a record revenue performance for 32Red in 2015, despite significant regulatory and tax headwinds. This excellent outcome is a reflection of the strength of the 32Red business, our talented and dedicated team, as well as our first class marketing and appealing brands.

 

As a result of the strong organic growth delivered throughout the year as well as the smooth integration of the Roxy Palace business, the Company expects to report EBITDA slightly ahead of expectations for 2015 when it announces its preliminary results on Thursday 10 March 2016.

 

The acquisition of the Roxy Palace business in July was a perfect fit for us, complementing the strong organic growth at 32Red which has accelerated in direct response to increased and effective marketing investment in the year. Marketing expenditure will be increased again in 2016 and I expect to report further strong progress across the business.

 

Underpinned by our reputation for providing a first class customer experience and leading online gaming brands, 32Red is in excellent health and we are excited by the opportunities ahead."

 Enquiries:

32Red Plc

Tel: +00 350 200 49396

Ed Ware, CEO

Jon Hale, CFO

Numis Securities Limited

Tel: +44 (0) 20 7260 1000

Michael Meade (Nominated Adviser) 

Chris Wilkinson (Corporate Broking)

Michael Burke (Corporate Broking)

Hudson Sandler

Tel: +44 (0) 207 796 4133

Alex Brennan

32Red@hudsonsandler.com

Bertie Berger

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
TSTLLFSDLSIIFIR
Date   Source Headline
16th Apr 201511:15 amRNSResult of AGM and Change of Registered Office
5th Mar 20157:00 amRNSFinal Results
22nd Jan 20157:00 amRNSTrading Update
31st Oct 201412:19 pmRNSShare awards
24th Sep 20144:38 pmRNSDirector Shareholding
24th Sep 20147:00 amRNSInterim Results
9th Sep 201410:01 amRNSAcquisition
23rd Jul 20147:00 amRNSPost Close Trading Update
17th Jun 201410:30 amRNSAnnual Report and Accounts
3rd Jun 201411:00 amRNSIssue of Equity
30th Apr 20147:00 amRNSSupplier Agreement
24th Apr 201412:08 pmRNSResult of AGM
14th Apr 20147:00 amRNSRangers Football Club Sponsorship
14th Apr 20147:00 amRNSNew Sponsorship Deal
26th Mar 20147:00 amRNSTrading Update
19th Mar 20145:21 pmRNSExercise of Share Options
17th Mar 201412:00 pmRNSHolding(s) in Company
10th Mar 20144:04 pmRNSFinal dividend - amendment to record date
6th Mar 20147:00 amRNSFinal Results
25th Feb 20142:14 pmRNSHolding(s) in Company
16th Jan 20147:00 amRNSTrading Update
3rd Jan 201412:00 pmRNSDirector/PDMR Shareholding
12th Dec 20133:15 pmRNSDirector/PDMR Shareholding
9th Dec 20132:57 pmRNSDirector/PDMR Shareholding
11th Nov 20137:00 amRNSSponsorship of Paul O'Grady show
4th Nov 20137:00 amRNSPartnership with ITV Brand Extensions
25th Oct 20137:00 amRNSBoard Appointment
27th Sep 20137:00 amRNSTV Sponsorship
12th Sep 20137:00 amRNSInterim Results
11th Sep 20132:58 pmRNSHolding(s) in Company
27th Aug 20137:00 amRNSBologna FC Partnership
18th Jul 20137:00 amRNSPost Close Trading Update
15th Jul 20133:59 pmRNSHolding(s) in Company
9th Jul 20133:09 pmRNSNOTIFICATION OF MAJOR INTEREST IN SHARES
9th Jul 20132:43 pmRNSNOTIFICATION OF MAJOR INTEREST IN SHARES
4th Jul 20137:01 amRNSSpecial dividend
4th Jul 20137:00 amRNSAward of costs
4th Jun 20139:00 amRNSDirector dealings
30th May 201312:03 pmRNS32Red Employee Benefit Trust
28th May 20139:00 amRNS32Red Wins Industry Award
3rd May 20133:21 pmRNSDirector Dealings
23rd Apr 201311:46 amRNSResult of AGM
12th Apr 20134:19 pmRNSCourt Case Update
22nd Mar 201311:51 amRNSAnnual Report and Accounts
21st Mar 20137:00 amRNSFinal Results
5th Feb 20131:36 pmRNSHolding(s) in Company
23rd Jan 20137:00 amRNSTrading Update
24th Dec 201212:00 pmRNSDirector/PDMR Shareholding
29th Nov 20127:00 amRNSLaunch of Italian website
9th Oct 20125:13 pmRNSNotifications of Major Interests in Shares

Due to London Stock Exchange licensing terms, we stipulate that you must be a private investor. We apologise for the inconvenience.

To access our Live RNS you must confirm you are a private investor by using the button below.

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.