Tag Archives: 32red

32Red & Kambi extend sports betting platform partnership

Updating the market sports betting platform provider Kambi and key client 32Red Plc have confirmed a partnership extension. The extension of services sees 32Red continue its sports betting platform agreement with Kambi which was first signed in April 2014. The partnership saw London AIM-listed 32Red relaunch its sports betting offering ’32Red Sports’, with company governance stating that the company was …

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£4.8m point of consumption bill blunts 32Red’s record growth

Gaming operator 32Red has posted a record revenue performance for 2015 with a 52% increase in net gaming revenues for the year – however its figures have been blunted by a £4.8m point of consumption tax bill. The firm saw 35% increase in its core 32Red revenues to £41.7m, a 54% jump in its Italian business to £1.7m and a …

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Will Sky Bet be the next to gain authorised betting partner status?

It is being reported that Sky Bet is to be announced as the latest bookmaker to sign up for authorised betting partner status with British horseracing.  This is a somewhat exclusive status and should it go ahead the operator will join Betfair, bet365, BetVictor and 32Red as an APB. This is in addition to a number of smaller companies. The primary benefit …

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New horseracing funding scheme will need to be fair to bookmakers as well

The Association of British Bookmakers (ABB) has welcomed the Government’s decision to introduce a new funding system for horseracing, but warned that any new development should not be taken in isolation from other issues. This morning, during a debate in the House of Commons, Culture Secretary John Whittingdale announced that the Government plans to introduce a new system which will …

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32Red beats 2015 expectations with record revenue surge

Governance of 32Red Plc has cited strong organic growth combined with the positive impact of its acquisition of online casino brand Roxy Palace as the drivers for its full year record revenues results Issuing the market a FY 2015 trading update, 32Red Plc reported that it gained significant growth on all its top-line metrics. The operator would record 2015 group …

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British Racing rejects Coral offer after ABP row

The British Horseracing Authority has dismissed Coral’s offer for a flat 7.5% of its online and retail horseracing profits, labelling it an an “unrealistic realistic starting point” on the grounds that it would generate less for the sport than existing arrangements. The latest clash between racing and the bookmakers has been caused by the introduction of the Authorised Betting Partner …

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York Racecourse declines BHA’s ‘ABP Status’ sponsorship policy

York Racecourse officials have stated that they will allow bookmaker sponsors’ to renew track and event sponsorships regardless of whether the companies’ have gained an Approved Betting Partner (ABP) status by the British Horseracing Authority. The independent racecourse becomes the first venue to declare that it will not abide by BHA and UK Racing policy regarding ABP status for bookmakers, …

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BHA confirms 32Red & bet365 as official UK racing Authorised Betting Partners

As widely anticipated online bookmakers’ bet365 and 32Red have been confirmed as UK racing Authorised Betting Partners (ABP) by the British Horseracing Authority (BHA). 32Red and bet365 join competitor Betfair as the first set of online bookmakers to be granted official ABP status. BHA CEO Nick Rust confirmed that the bookmakers had committed to contributing a share of online winnings …

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32Red takes encouragement from underlying performance

A £2m bill for the UK’s Point of Consumption Tax and an increase in marketing in Italy has put a dent in 32Red’s profits despite the online gaming firm’s improved underlying performance. The company has reported EBITDA of £1.2m for the first half of the year, compared to £2.3m in H1 2014, with profit before taxation plummeting to £100,000 from …

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Increased customer activity drives 32Red H1 2015 performance

32Red Plc governance is confident of hitting  2015 targets following a strong opening H1 2015 (period ending 30 June) performance which saw the operator improve performance on all top line metrics. Updating the market, 32Red saw its group Net Gaming Revenue (NGR) up 22% to £18.6 million (H1 2014: £15.2 million). Its flagship vertical 32Red casino contributed £17 million of …

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