The online casino and poker company reported a profit before interest and tax of £2.04m, up 82%, on revenues up 67% to £9.77m.
The total number of players placing a real money bet during the year increased by 102% to 17,587, while new real money players recruited rose by 91% to 14,451.
Casino revenues showed a 57% growth to £8.94m, while 32Red\’s poker product grew rapidly, generating revenues of £0.83m.
32Red remains a UK-centric business, with 82% of its revenues coming from the UK, while Scandinavia and the US make up the majority of the rest.
The annual yield per casino player was stable at £843 (2004: £826), while the cost per acquisition of real money players fell to £147 from £174 in 2004.
Operational highlights included also the launch of the Japanese language version of the online casino and the Casinomeister\’s Best Casino annual award received for the third year in a row.
“32Red has a strong UK focused brand that continues to attract new players and deliver growth for shareholders. The Company had an excellent 2005 and the current year has begun well on all fronts. 32Red is a highly scaleable business with the capacity to grow organically and via acquisition. Being a listed company brings many benefits and we intend to make full use of our PLC status in the coming months,” commented Chief Executive Ed Ware.
Ware added that the company is looking to extend the reach of its brand in overseas markets, including Japan and continental Europe, as well as considering all options, from white-label deals to possible acquisitions, to enter the sports-betting market.
“The highest-rated company in the sector is Sportingbet because it has the entire portfolio of products. We have casino and poker, and clearly we would be interested in adding a sportsbook.”
Ware also said that the introduction of more companies to the public markets combined with regulatory advances in the United Kingdom significantly increased the profile of internet gambling.
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