Increase in 32Red Profits Could Lead to Takeover Rumours

matt makowski
Written by Matt Makowski
Published on Tuesday 15th March 2016, 11:55 am
Posted in: Casino Business

Casino Business

Online casino site 32Red could become a takeover target for some of the larger gambling sites on the market after posting strong annual results. The site has grown in size since its inception in 2003 and prides itself on offering the best online casino games and a rapid payout service for winners.

Based in Gibraltar, 32Red’s advertising campaigns are voiced by actress Patsy Kensit, and the  site has thrived in recent years with a reported rise in revenue of 52% to £48.7 million at the end of last year. An estimated 35 percent of this growth is thanks to the company’s £8.2 million takeover of fellow British gaming site Roxy Palace in July 2015, an acquisition that added a further £5.2 million to the online casino site’s overall worth. The increase also spelled success for the company’s shareholders as stocks rose by 6p to an impressive 163p this week.

The online casino site, which has previously sponsored two current Premier League football clubs, has seen operating profits increase in four out of the five years between 2010 and 2014. Eric Opara, an analyst at Edison Investment Research, remarked in The Standard that he believes that if this trend continues, quiet murmurings of a takeover could turn into full-blown screams: “Its success won’t have gone unnoticed and we would not be surprised to see 32Red become a takeover target for larger peers.”

If you are interested in finding out more about 32Red, head to the Casino Reviews page. The site is currently offering new customers a free £10 when they sign up, with no deposit required.

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