32Red full-year revenues up 21%
Trading update reveals UK-facing operator boosted by 24% increase in active players during 2013
Gibraltar-licensed 32Red has posted double-digit growth for the year ended 31 December 2013 after seeing revenues rise by 21% to £38.8m due to a greater focus on CRM.
According to a trading note released this morning, this increased focus on CRM resulted in a 24% rise in active players to 71,266 over the 12-month period, despite a 9% reduction in new players to 38,033.
The operator also pointed to growth in its mobile casino which grew 136% year-on-year and as a proportion of overall revenues now stands at 21%, up from 10% in 2012.
Casino continues to be the backbone of 32Red’s business with revenues of £35.6m, equating to 92% of the total and up 19% on the previous year. Other products were broadly static at £2m.
32Red’s Italian business, which launched in November 2012, contributed £1.3m of revenues – £0.8m of which came during H2 “ and the primarily UK-facing operator expects improvement during 2014 as the country’s regulator steps up its efforts to reduce the size of the black market.
The operator also revealed trading for the first two weeks of 2014 showed a 10% increase in gross win compared with the corresponding period in 2013.
“Our 32Red casino product continues to go from strength to strength and the 24% growth in active players is testament to our focus on delivering a second to none customer service across platforms,” Ed Ware (pictured), 32Red CEO, said.
“Trading momentum has continued into 2014 and I am confident that our recent step up in marketing investment, increased focus on CRM and the bolstering of our board leave us well placed to make further progress in the year,” he added
In October, Matthew Booth returned to 32Red after a five-year absence to take up the newly-created position of commercial director
Last year, Ware outlined 32Red’s intention to launch products in additional regulated or regulating markets such as Holland, Germany and Spain in a bid to offset the expected effects of the UK point of consumption tax.