Italian gains lift 32Red

Italian gains lift 32Red

Wednesday, July 22, 2015 Totally Gaming
32Red began a marketing push in Italy in H1 2015

Gaming operator 32Red was boosted by a marketing push in Italy as it posted figures highlighting a strong first half of 2015.

Italian net gaming revenue was up 67 per cent year-on-year to £900,000 (€1.3m/$1.4m) in the six months to June 30, with the 4,285 new players recruited making a total customer base of 8,443 in the country.

While still a small proportion of 32Red’s £18.6m total net gaming revenue, the company has been building its operation in Italy since liberalisation of the market in 2012 and launched its first full television advertising campaign with Milan advertising agency Fosbury ADV in January.

A 32Red statement said: “The company continues to invest in marketing to grow market share in this recently regulated market and will look to add additional gaming products later in the year”. The company added that strong top line growth in the underlying business continues to be driven by increased player activity levels at 32Red Casino.

Chief executive Ed Ware said that while 32Red will continue to push for an improved offering, it also hopes to reap dividends from this month’s £8.4m purchase of online casino operator Roxy Palace.

Ware added: “Our continued focus on customer service, combined with increased marketing expenditure and cross sell from supporting products has driven double digit organic revenue growth in the 32Red casino in the half year. We recently announced the acquisition of the Roxy Palace business and I am delighted with initial trading and the integration progress.

“The combination of this earnings enhancing acquisition allied with our strong organic growth provides a strong platform for continued growth and we look forward to the future with confidence.”
 

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