Gibraltar based British online gambling company 32Red Plc. which operates the award-winning 32Red Casino, powered by Microgaming, announced strong results for the first half of this year, as well as its intention to enter the Italian online gambling market.
In a statement by CEO Ed Ware, 32Red Plc. announced that revenues shot up 50% in the first half of 2012 to £16.5 million, with a 12% growth of EBITDA (prior to share option costs and exceptional items) to £1.7 million. These gains were despite heated competition in the UK from the Olympics, as well as a £60,000 cost incurred during a successful trademark dispute against William Hill.
32Red will also press forward with its move into the huge Italian gambling market. In the statement, Ware said that they expect Italian operations to begin in the fourth quarter of this year, and are looking forward to establishing the brand in Italy.