The online casino, poker and sports betting operator provided an update on trading for the half year ended 30 June 2006 ahead of its interim results which will be announced on August 31.
Total revenues were up 48% to £6.24m on H1 2005. Casino revenues were up 27% to £5.0m, while poker revenues rose by 134% to £0.65m against the prior half year. Bet Direct revenues, derived from 3 weeks of ownership, were £0.59m.
Total active customers rose fourfold year-on-year to 44,539 (2005: 8,832). Total new casino and poker players increased by 125% to 13,253 (2005: 5,886). Casino active players were up 63% to 9,556, while poker active players were up 232% to 9,936 on 2005.
Bet Direct active and new customers since June 7 were respectively 25,047 and 2,904.
The average casino player yield was of £420 per quarter, while the quarterly poker revenue per active player was of £48 in H1 2006.
“The 32Red business has continued to make good progress in the financial year to date. In common with the industry as a whole we have experienced a short-term impact to gaming revenues as a result of the recent World Cup. However, we remain confident that the business continues to be well placed for the current year. We are pleased with the acquisition of Bet Direct, and integration plans are on course. Significant growth opportunities have been identified and are being actively pursued,” commented Ed Ware, CEO of 32Red.
In separate news, online casino provider Gaming VC announced that trading in the first six months has been strong and in line with market expectations, with like-for-like Key Performance Indicators (KPIs) demonstrating continued growth.
New registrations for the 6 months to 30 June 2006 were 26,900 compared to 13,200 in the same period of 2005, a 104% increase. 12,760 new depositing customers were recorded in the six month period compared to 8,115 in the same period of 2005, a 57% increase. Unaudited net revenue in the six month period was EUR 21.1 million, up 9.3% on the second half of 2005.
Marketing spend on the Spanish casino has remained low as the cost of new player acquisition in this territory has proven to be unacceptably high. In accordance with the company\’s strategy, further investment will continue to focus on the German speaking market as well as the development of Eastern European markets, where a soft-launch in Russia has been encouraging.
“This solid performance demonstrates the robustness of our casino in German speaking markets as can be witnessed by increases in both new registrants and new depositors. The Company has also made continued progress in developing other markets, noticeably Russia. I am pleased to report that, following our effective marketing campaign during the period, the Football World Cup held in Germany appears not to have had any significant impact on our performance. The Company remains on target to deliver 2% revenue growth per month over the course of the year. I look forward to updating shareholders at our interim results in September,” commented Steve Barlow, Chief Executive of Gaming VC.
UPDATE: 32Red and Aston Villa FC unveiled the club\’s new home kit for the forthcoming 2006/07 season. The classic looking strip displays the 32Red logo on Villa\’s famous Claret and Blue. 32Red CEO Ed Ware tipped the new kit to be one of the best there has been: “We are absolutely thrilled that we can now reveal the new Aston Villa home kit. We think it is a classic design and we have no doubt it will become a firm favourite amongst the fans” Ware continued: “Everyone at 32Red Plc is very proud and excited that millions of people throughout the World will now see the 32Red.com website address every time they tune into to see Aston Villa playing in the Premiership.”
Calculators
