32Red Breaks Net Revenue Record in 2016
Gibraltar licensed 32Red PLC, powered by software from Microgaming, reported growth in net gaming revenue in 2016, saying that it will report full-year results in line with expectations.
The popular remote gaming operator said that it had achieved record net gaming revenue of £62.3 million last year, which is an increase of more than a quarter of the amount of £48.7 million that it made in 2015.
The online gaming operator also saw a 28 percent year-on-year rise during the 12 month period, while net gaming revenue from other products grew by 60 percent. The operator also revealed that trading so far this year is 21 percent up on last January.
It was also reported that casino NGR was up 16 percent year-on-year to an amount of £45.6 million, with NGR from other products up 60 per cent to an amount of £3.8 million.
According to 32Red, the “strong performance” was due to a combination of healthy organic growth in the core 32Red business, which was up 19 percent on 2015, as well as a full-year contribution from the Roxy Palace business which it acquired in July of 2015.
Chief Executive of 32Red, Ed Ware, commented on the results by saying that 32Red experienced another hugely successful year with profits and revenues breaking previous records, driven by excellent growth in their core casino products.
Ware went on to say that the key strategically important contracts signed during the second half of last year will help the company to deliver its stated growth strategy and the board remains confident of delivering continued progress in 2017.