32Red Reports 27% Increase in Profits

GIBRALTAR – The first half of the year has been a good one for online gaming company 32Red.

32Red reported a total gaming revenue of US$ 13.2 million or a 27% increase for the first six months of the year thanks largely to its online casino which has been bringing in the numbers.

Revenues from its online casino side rose 30% to US$12 million compared to the same period last year. When compared to the preceeding six months, the last six months experienced a 36% increase.

Revenues from poker however remained unchanged for 32Red which was at US$1.2 million compared to the previous two 6-month periods. Active poker players in the period also dropped to 8,668 and poker yields for 32Red players at just US$128 per player.

32Red CEO Ed Ware expressed his delight with the company’s good first six months of 2008:

“The re-focusing of our efforts in accelerating the growth of the 32Red business has delivered immediate results and I am pleased to report a good start to the year.”

He added that the positive casino results reflects the excellent casino experience their players enjoy when playing on 32Red and that the company intends to further expand its presence in the UK.

“We continue to explore opportunities to expand the 32Red product offering and closely monitor regulatory developments in new territories. We look forward to progressing these projects in the second half of the year and will update shareholders accordingly.”