Online casino operator 32Red has released results for the year to December 31, 2014, reporting total net gaming revenue of £32.1m, up 26 per cent on the £25.4m recorded in 2013.
The company’s Italian operation remains a comparatively small part of the overall business, posting £1.1m net gaming revenue last year, but this was a 74 per cent increase on 2013.
Overall EBITDA was £5.4m, up 41 per cent. The Italian business posted a £0.6m loss (EBITDA), although that was an improvement on the £1.2m loss accrued in 2013.
The 12 months delivered 32Red’s fifth consecutive year of double-digit growth in organic revenues and saw an increase in marketing investment. The company’s three-year sponsorship of Rangers Football Club was announced in April and followed by the launch of the new sportsbook, 32Red Sport, in June.
Active 32Red casino players were up in the year by 15 per cent to 82,155 with new casino accounts rising by 17 per cent to 44,385.
Mobile revenues rose 89 per cent on the 2013 figures, representing 32 per cent of total casino revenues.
Ed Ware, CEO, said of the start to 2015: “Despite the recent introduction of a new UK regulatory environment, we have achieved a strong start to the new financial year and I am confident in our ability to continue to grow the business for the long term and look forward to the future with confidence.”
