32Red post record figures for first half of year

32Red - Cheveley Park Stakes

32Red have expanded the quality of their racing portfolio recently

  PICTURE: Mark Cranham (racingpost.com/photos)  

ONLINE gaming operator 32Red have reported record revenue and earnings for the first half of 2016.

The casino and sports betting company, who have significantly increased their profile in racing through the sponsorship of Kempton’s King George VI Chase and the Sprint Cup at Haydock, posted a surge in net gaming revenue to £30.4m from £18.6m, while ebitda (earnings before interest, taxation, depreciation and amortisation) rose to £4.5m from £1.2m.

Ed Ware, 32Red chief executive, said: “We’re delighted to report a record revenue and profitability performance for 32Red in the first half of 2016 which has been driven by strong growth across our business and brands.

“Current trading remains strong with like-for-like NGR [net gaming revenues] up four per cent on very strong comparatives in the second half to date. Underpinned by our strong online gaming brands and exciting customer-focused offer, the board remains confident of meeting its expectations for the full year.”

32Red also sponsor two categories – the Fillies Mares and 3yo championships – as part of the All-Weather Championships.

Shares in 32Red were up nearly 6.5 per cent at 141p in morning trading.

 

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