23 Jul 2008 07:00
32Red Plc
("the Company")
Trading update for the six months ended 30 June 2008
32Red Plc, the award-winning online gaming operator, today provides an update on trading for the half year ended 30 June 2008 ahead of its full interim results to be released on 26 August 2008. Comparatives are for continuing 32Red operations and exclude any revenues derived from the Betdirect business, sold on 30 October 2007.
The Board have been pleased with trading during the first six months of 2008. The Company's flagship operation, the 32Red Casino, has flourished and is benefitting from a clear focus on all aspects of its service and marketing activities. This has resulted in a record level of Gross Win for the period.
Key financial highlights:
Total gaming revenues of £6.6m, an increase of 26% on H1 2007 and 32% on H2 2007
Casino revenues of £6m, an increase of 31% on H1 2007 and 38% on H2 2007
Active casino players in the first 6 months : 12,283, up 13.5% on H1 2007 and up 9.3% on H2 2007
Casino yield per active player in the 6 months : £491, up 15.2% on H1 2007 and up 25.8% on H2 2007
Key Performance Indicators:
| H1 2008 | H2 2007 | H1 2007 | |
| Group Revenues | £6.6m | £5.0m | £5.2m |
| Active Players | 20,951 | 20,040 | 21,480 |
| Group Yield per active player | £314 | £249 | £243 |
| Casino Revenues | £6.0m | £4.4m | £4.6m |
| Active Players | 12,283 | 11,238 | 10,818 |
| Casino Yield per active player | £491 | £390 | £426 |
| Poker Revenues | £0.6m | £0.6m | £0.6m |
| Active Players | 8,668 | 8,802 | 10,662 |
| Poker Yield per player | £64 | £68 | £57 |
Ed Ware, CEO commented:
"The re-focusing of our efforts, in accelerating the growth of the 32Red business, has delivered immediate results and I am pleased to report a good start to the year. In particular, the casino yield per player is strong and reflects the excellent player experience enjoyed by 32Red customers. Our distinctive and distinguished brand continues to stand out and we intend to further expand our UK profile. We have also successfully launched a mobile phone gaming service, an integrated Bingo offering and a French language casino during the first half of the year. While it is too early to assess the full potential of these new platforms, early signs are encouraging.
We continue to explore opportunities to expand the 32Red product offering and closely monitor regulatory developments in new territories. We look forward to progressing these projects in the second half of the year and will update shareholders accordingly.'
23 July 2007
Enquiries:
| 32Red Plc | Tel: 00 35 049 396 |
| Ed Ware, CEO | |
| Jon Hale, Finance Director | |
| Numis Securities Lee Aston, NOMAD Chris Wilkinson, Corporate Broking College Hill Associates | Tel: 020 7260 1000 |
| Matthew Smallwood | Tel: 020 7457 2020 |