32 Red Sees Improved Profits

Written By Janice Doughtrey

Although gambling is thought to be a recession proof industry, casinos – both land-based and online – were hit hard by the recent global recession. Only now are some of the biggest players in the industry beginning to recover, and 32 Red seems to be one of the them.

Over the first six months of the year, 32Red saw a staggering 33% increase in revenue, going from 5.8 million over the last half of 2010 to 7.8 million. The largest portion of this revenue came from 32Red’s casino dvision, making up 29% of the company’s net revenue.

Unfortunately, 32Red saw a decrease in its poker department. From July 2009 until July 2010, there was a 0.1m decline, as poker players seemed to move on to other, more specialized online poker destinations. Sportsbetting and bingo, however, saw steady results.

All in all 32Red is performing well in the online gambling industry. Over the course of the year, the casino attracted over 12 000 new players with an average value of 346.

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