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Monday 23rd October 2006

32Red Sees Revenue Drop

Online casino and gaming operator 32Red has released figures from its third quarter results, which highlights a 10 percent drop in casino revenue but also an increase in total sales since the summer.

The company said that despite its casino revenue falling around 10 percent on 'widely reported industry-wide issues' (the Unlawful Internet Gambling Enforcement Act), its total revenue rose 55.8 percent in the third quarter pointing to a steady recovery in both poker and casino activity since the summer.

The total third quarter revenue stood at £4.2 million, which included £1.57 million from the recently acquired BetDirect, while its poker revenue jumped 77 percent to £400,000.

32Red also forecasted an expanded but focused marketing drive in the UK, with the company’s sponsorship of Aston Villa and the acquisition of BetDirect being key components to its performance going forward after withdrawal from the US market ahead of ramifications from the Unlawful Internet Gambling Act.

Source: OnlineCasinoNews

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