32Red Experiences Surge in Profits
Monday, July 19th, 2010Last year, the online gambling community took a huge hit when the global recession forced potential players to save their pennies. It is only recently that the industry is beginning to recover, as some of the most popular online gambling brands start to show improved revenue. One such casino is 32Red, which has recently reported a 33% jump in profits.
Over the past 6 months, 32Red saw a GBP 7.8 increase in profits. Industry insiders believe that the surge is due to the casino’s new makeover, which saw a complete overhaul of 32Red’s website’s design and a vast collection of new online casino games.
According to financial reports, the casino saw 35% more active players and 26% more player registrations than last year.
Unfortunately, the casino’s two subsidiary brands, 32Red Poker and 32Red Bingo, did not see successful results. In fact, poker revenues had dropped by 16% while bingo revenues decreased by 3%. This could be attributed to the fact that dozens of new online bingo and online poker sites have launched in the past few weeks, causing older sites to lose patrons as they migrate to bigger and better systems.
However, the company as a whole is still looking at improved profits overall. If 32Red Casino continues to compensate for its two other brands, the whole company could look forward to even moe financial success in the future.
