32 Red Casino Reports Huge Profits

One online casino is reporting huge profits for the year so far. 32Red, one of the largest online casinos, reported that revenue was up a record 34 percent in the first quarter of 2010.

32Red features a casino and poker rooms, but says that the casino is the most profitable and has seen record growth in the past year. It reports that 12,000 new players have joined the site, accounting for a 26 percent increase in players. Overall, players are spending a bit less at the casino, but because there are more players, the casino has record earnings anyhow.

The company’s CEO says that good branding and marketing have helped the company become one of the stronger online casinos.

“We believe that the 32Red brand and its core values continue to provide us with the tools to penetrate the online and mobile casino market successfully,” said Ed Ware, CEO of 32Red. “The group has further strengthened its balance sheet and, having repaid all outstanding bank debt, will increase marketing spend during the second half of the year.”

The site’s many playing opportunities include poker and casino games as well as online bingo, online rummy and sports betting.