32Red GGR up 19pc in March

32Red GGR up 19pc in March

Wednesday, March 26, 2014 Totally Gaming

Online gaming firm 32Red took steps to assuage investor fears, which have seen share prices tumble in the past week after the government confirmed its Point of Consumption tax plan, by confirming that Gross Gaming Revenues were up 19 percent in the first 24 days of March against the corresponding period. It added that the cumulative year-to-date increase is now 8 percent as at 24 March 2014.

The UK Government’s proposed introduction of a Point of Consumption Tax from the end of 2014 was again referenced in the Budget supplementary papers on Wednesday 19th March, although nothing new of substance was announced. The Company said it continues to work with the Gibraltar Betting and Gaming Association to ensure that the industry concerns are voiced and understood by the UK Government and other stakeholders.  

A statement from the company said the Board remains confident in the prospects for the business and in meeting its financial expectations for the year.

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