iGaming Business – Online gaming operator 32Red has cited the growth of its mobile business as a key factor behind its fourth consecutive year of record gross gaming revenue and underlying EBITDA in the 12 months to December 31, 2013.
In its final results for the year, 32Red reported that total gross gaming revenue increased 21% to £38.8 million (€46.9 million/$65 million) in 2013, which in turn led to a 15% rise in total net gaming revenue to £25.4 million.
Underlying EBITDA totalled £5 million in 2013, a growth of 46% on the £3.4 million recorded in the previous year.
The company also said pre-tax profit increased 12% from £2 million in 2012 to £2.3 million in the last 12 months.
32Red put the positive figures down to a significant increase in mobile revenue, which experienced 136% year-on-year growth and now represents 21% of total casino revenues.
The company also attained 38,033 new 32Red Casino players in 2013 while the active number of players increased 24%.
Ed Ware, chief executive officer of 32Red, said: “This is our fourth consecutive year of delivering double digit growth in both sales and EBITDA underpinned by a step-up in marketing investment and our continued focus on providing a second to none customer service.
“With the momentum continuing into 2014 and our greater focus on driving returns from our increasing marketing spend I am confident in making further progress in the year ahead.”
The release of the final results comes shortly after iGaming Business reported that the firm was to target further growth after posting record annual revenue in its preliminary results.
