32Red have revealed a big rise in profits in 2008 as total revenue for the firm increased by 27 percent on the figure for 2007, to £13 million.  Its online casino did even better increasing by 30 percent with its gross win standing at £11.7 million for 2007.

32Red’s punters are gambling more and more people are gambling with 32Red.  Its punters are gambling on average 13 percent more than in 2007, and its online casino has seen a rise of 15 percent in its active customer base taking the figure to above 21,000.

At the end of 2008 there were over 15,000 new sign-ups to its online casino which was 7 percent higher than the new sign-ups last year.

A spokesman for 32Red said, “The strong year-on-year growth in casino revenues has been driven by both increased active player numbers, up 15 percent on 2007 and an improved yield per player of £536, up 13 percent on 2007.

“Performance for the year ended 31st December 2008 is expected to be in line with market expectations at PBT level, although ahead of expectations at EBITDA level.”

32Red will be spending lots of money on an advertising campaign to try to attract yet more customers.  The company is also expanding with several new products in the pipeline with its financial spread betting service being launched very soon.

The CEO of 32Red Ed Ware said, “Our good performance in 2008 puts 32Red firmly back on its growth path with revenues from our core business, the 32Red Casino, growing strongly.

“We will continue to compete effectively against our larger peers through our existing platforms and the addition of new products to the 32Red portfolio including financial spread betting, due to go live later this month.”

Early indications suggest that 32Red have made a strong start to the year with revenue likely to continue to grow throughout 2009.

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