The best performers in any industry are not affected by recession. The United Kingdom based online gambling public company 32Red plc has demonstrated this. 32Red plc features an online casino, a mobile casino, online poker, online bingo and other gambling products.
The company as a whole has reported a revenue of £13.0 million for the year ended 31st December 2008, which is an increase of 27% over the last year. The online casino, which is the flagship of the group, has performed even better. The revenue from the casino has increased from £9.0 million to £11.7 million, an increase of 30%. And 32Red has registered this performance at a time when most businesses would be delighted if their volumes did not decrease. The increase in casino revenues has been driven by two factors. There are more players wagering at 32Red Casino and each player is wagering more. The number of active players has gone up 15% and the yield per player has gone up by 13%. In a sense the growth in the online casino has come at a cost of online poker, the revenue of which has shown a 13% fall. Hence in 2009 32Red plc plans to focus on marketing its online casino. The Chief Executive Officer, Ed Ware, said that the revenues in 2009 are expected to get a further boost from the television campaign launched in the United Kingdom. He also added that new online gambling products like financial spread betting and sports book would soon be added to the 32Red portfolio.
If 32Red Casino has been good for its owners, it has been good for the players as well. 32Red Casino has paid out over £13 million as winnings in online slots in February 2009. The biggest winner was Guy F who won £35,000 on the popular Microgaming slot Avalon. According to Operations Director, Pat Harrison, the amazing thing about this win was that it came from a single spin of £100. Other big winners in February were Paul M with £24,291 on Deuces Wild Level Up; Amanda R with £18,652 on the online slot Loaded; George L with £15,567 on the branded slot Hitman and Richard H with £14,610 on the online slot Spring Break. Harrison said, “We would like to offer our congratulations to all winning 32Red slot players this month and wish them the best of luck with our online slot games this March and in the future.”
The all time biggest winners in 32Red Casino are Annie C who won £1.09 million on the progressive slot Major Millions and Sharon H who won £1.00 million on the progressive slot King Cashalot. 32Red Casino is powered by Microgaming and licensed by the Government of Gibraltar. It has obtained eCOGRA’s “Safe & Fair” seal.