32Red Plc the investment arm behind the UK centric online casino 32Red recently announced that they had moved back into the black and out of the red so to say when they revealed net profits of £1.26 million for the 08 Fiscal year. The group chairman Ed Ware announced during a results statement that trading levels in online poker were “mildly encouraging” and that the company would continue to evaluate the poker experience that it offered in light of the competitive conditions in the poker market.
On ray of optimism for 32REd was its online bingo product that launched in 2008. It recorded a trading profit of £200k. The key to revenue increase in the bingo market will be the offering of slot games within the bingo client, together with further UK Television advertising of the 32Red bingo product.
The company has also recently launched a spread betting operation which is hugely popular with certain sections of the United Kingdom population and is also reportedly going to launch a new sports book.
Written for OnlineCasinoworld by Greg