The name of 32Red online gambling group can be a little misleading since the group doesn’t operate in the red. 32Red is one of the favourite online gambling sites that made news last year due to the sale of the group’s betting division. According to performance reports of 32Red, the online gambling group is doing better than ever. In June a lot of companies have released financial reports for the second quarter and half-year of 2008. Half-year results were also released by 32Red that showed the company is doing very well. Other internet casinos states about some problems in the first half-year, but 32Red only saw raises up to the moment.

The majority of the main internet gambling jurisdictions are experiencing a rough patch. Due to the economic recession, the gambling revenues have declined a little. However, 32Red manages to sustain total gambling revenues and see an increase in comparison to the year of 2007. They show a considerable 26% raise over the same period of 2007. The amount of gamblers entering the online casinos has also grown a lot, 13.5% more active players than in 2007.

The half-year report corresponds to the internet casino gambling industry’s expectations and it is also corresponding with what 32Red has expected after it was not responsible any more for the BetDirect business. In fact Stan James bought BetDirect from 32Red and has also contrived to make that division profitable for this year. In general, 2008 is proving to be a positive financial year for 32Red and the online gambling group anticipates the positive performance up to the end of the year.

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