The online gambling operator reported a 55% increase in total revenues up to £4.2m, including a £1.5m contribution from the recently acquired BetDirect business.
32Red said that despite its casino revenues decreased 10% compared to the same period in 2005 due to the widely reported industry-wide issues, a positive trend started this summer and pointing to a steady recovery in both poker and casino activity, has continued into October.
During the third quarter, casino active players were up 133 % to 8,932, while poker active players were up 168% to 7,695. BetDirect, whose online sportsbetting platform was migrated to Gibraltar, reported a total of 9,724 new customers and over 33,000 active players.
Cost per acquisition for each casino and poker player was respectively £137 and £21, down from the £160 and £31 paid in the first half of 2006. Yield per each casino player in Q3 was £251, while for each poker player it was £52 (Q2 2006: casino £396; poker £39).
Commenting on the results, CEO Ed Ware said: “We are pleased to report that the business has continued to recover from the industry-wide dip experienced in and around the 2006 FIFA World Cup. Recent trends in the business are encouraging and our daily average performance in activity rates, revenues and new real money players are progressing. We are currently experiencing particularly strong levels of new real money player sign-ups at the casino and poker room supported by our sponsorship of Aston Villa which has markedly increased brand recognition and our profile.”
Earlier last week, BetDirect announced that it will be joining the Microgaming platform for both its poker and casino products. Chief Executive Ed Ware said of the announcement: “Microgaming’s consistent track record in providing quality software for both casino and poker enables us to deliver a first class service to our customers, thus it was a natural choice for us.”
Elsewhere, online poker site PKR.com launched a £1.5m pan-European three-month marketing campaign. Simon Prodger, Marketing Director of PKR said: “We’re tremendously excited that our launch campaign is about to begin and take PKR to the next level. The response from both poker players and the wider gaming community has been astounding, and we’re confident that this campaign will go a long way to establishing PKR as a major European poker brand.”
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