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32Red Reports Results

17 Mar 2006

UNITED KINGDOM – (PRESS RELEASE) -- 32Red Plc, the UK focused online gaming company, announces its maiden preliminary results for the year ended 31 December 2005. The Company was listed on the Alternative Investment Market on 23 September 2005. 82% of 32Red customers are based in the UK and Ireland.

Financial highlights

Gaming revenues up 67% to £9.77m (2004: £5.87m)

- Casino revenues up 57% to £8.94m (2004: £5.68m)

- Poker revenues up 339% against the prior year to £0.83m

Profit before interest and tax (before charging IPO and share option costs) up 82% to £2.04m (2004: £1.12m)

Basic earnings per share up 16% to 2.76 pence (2004: 2.38 pence)

Key performance indicators:

Total active players increased by 102% to 17,587

Total new players recruited rose by 91% to 14,451

Annual yield per casino player of £843 (2004: £826)

Cost per acquisition of real money players of £147 (2004: £174)

Operational highlights Japanese language 32Red casino launched

Investment in new data centre

Voted Best Casino 2005 by Casinomeister for third consecutive year

Commenting on the results, Ed Ware, CEO said: "32Red has a strong UK focused brand that continues to attract new players and deliver growth for shareholders. The Company had an excellent 2005 and the current year has begun well on all fronts. 32Red is a highly scaleable business with the capacity to grow organically and via acquisition. Being a listed company brings many benefits and we intend to make full use of our PLC status in the coming months."

 
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