32Red PLC has announced a record year just before its big £175 million acquisition by the famous Stockholm-listed Kindred Group. 32Red declared revenue of a whopping £62 million, as opposed to their £49 million revenue in the year 2015.
32Red announced that it's regular market performance contributed to over 77% of its gaming revenue. The firm’s aspirations to grow was supported with the kick-off of its new multi-platform website in the year 2016.
All of 32Red’s gaming assets such as 32Red Sports, Roxy Casino and 32Red Casino will now be under the stable of the Kindred Group. The brands will be an integral part of Kindred’s multi-brand marketing strategy which will also include Stan James, Unibet and Bingo.com
Ed Ware the CEO of 32Red updated its many investors that the firm will continue to implement its effective growth strategies until such time that the acquisition is complete.
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The CEO also stated, “We are elated to announce yet another record annual performance. In the year 2016, the brand delivered several strategic plans and progressed with an outstanding growth and many product enhancements, all while maintaining the highest levels of revenue among our competitors and peers. This progress has resulted in a very remarkable financial outcome. The company’s 2016 EBITDA doubled with the operator announcing the corporate profits of close to £6.5 million.”
“We are rather confident and believe that Kindred will render the right fit operationally to further improve the Group’s growth.”
“The outstanding performance of the company in the year 2016 is a true testament to the efforts of every single employee in the company. It is their skill, hard work, dedication and passion that drives our business forward.”