32Red Casino Announces Record Profits in 2015


02/05/2016
By Maria McCoyGoogle
The figure that has seen them completely trash previous records is that of $68.9 million for the year of 2015. They have revealed that they largely attribute this increase to the successful growth of its core business while they also claim that a contribution in the middle of the year worth $5.2 million from Roxy Palace, a remote online gaming business that they acquired is also beginning to show excellent dividends. That deal was struck with a sum of just $3 million in cash and a further 10 million shares and it is now really starting to bear some rather handsome looking fruit.

Their revenues from Net gaming were responsible for 34% of the annual increase while a combination of their other products and services also saw an increase of 42% as well.

What Were the Keys to Success?

Ed Ware, the Chief Executive of 32Red has recently revealed what he thinks were the main reasons for their success in 2015. He has claimed that it was a healthy combination of their superb organizational strength, their many teams of dedicated staff, highly productive marketing, and the appeal of their brand.

He was also quick to point to their areas of expansion in recent years starting to pay off such as their involvement in the Italian market that has seen a massive 54% increase in revenue throughout last year.

Will This Success Continue in 2016?

It seems that this is certainly the case for 32Red Casino and their other holdings such as 32Red Sports and 32Red poker after each of them have already reported getting off to a great start in 2016.

In fact it has been reported that there has been an increase in revenues across all products and services of 27% on this time in 2015 already. This combined with an increase of around 54% from Roxy Palace means that 2016 could well bypass 2015 if things carry on as they are.

The Roxy Palace acquisition is proving to be an inspired one, what with the customer database, quarter of a million players, 500 games, and the intellectual property rights that came with it making a massive contribution to their earnings.

The first financial reports are expected to be revealed in March and with 32Red and everybody else in the industry expecting increased revenue and profits, 2016 looks set to be another year of breaking records for the company. 

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