32Red is hopeful for the future of online gaming

The United Kingdom's top online gambling group, 23Red, has no doubts about the future of the casino and poker market.
32Red is an online casino and poker firm, owned by Trafalgar. Their recent business reported a boost in profits in both pre-tax profits and revenues from their customers who are based mostly in Britain and Ireland.
Ed Ware, Chief Executive of 32Red assured that their was plenty more business in which to cash in. Online casino and poker in Britain delivered over eighty percent of the business. The rest of their business stems from players in the United States and Scandinavian countries.
Over the past year, pre-tax profits increased by GBP 200,000. The financial increase leapt to GBP 1.3 million. The company's turnover jumped from GBP 1.97 million to GBP 3.48 million. Additionally, the amount of active players participating increased to over seventeen thousand – a rise of over 100 percent.

Ware commented that the source of most players was the United Kingdom and Ireland. He also stated that there is still much more room for growth.
He admits that while PartyPoker and 888 Casino have been acting as the initial ice-breakers for the industry, 32Red was still able to go in afterwards and pick up many customers.
32Red is researching the possibilities of entering the sport-betting market. They are considering all possible deals including white-label deals and acquisitions.

According to sources, the best rated gambling company in the sports-betting arena is Sportingbet. This is due to the fact that they hold the entire portfolio of products.
32Red is especially interested in adding a sportsbook to their portfolio, since they already have casino and poker.

Last year the online gaming industry took a bit of an investor hit, after Party Gaming hinted on much pessimism in the market. Nevertheless, Part Gaming has bounced back even stronger, this has encouraged the market confidence in the online gaming industry.

Back to Lastest Gambling News
Back to Gambling News Archive
Back to Gambling News - March 2006 Archive