32Red Plc Floats with a Market Capitalisation of £60 Million
32Red Plc, a UK-focused online gaming business predominantly comprising two distinct activities casino and poker, has made an application to the London Stock Exchange for the Ordinary Shares to be admitted to trading on AIM.
Admission took place and dealings in the Ordinary Shares on AIM commenced at 8 a.m. on Friday the 23rd. On Admission the Company had 47,335,500 Ordinary Shares in issue and a market capitalisation of approximately £60 million.
32Red offers casino games to customers via the Company’s gaming site at 32Red.com. At 32Redpoker.com customers can play in ring games and tournaments via the Prima Poker network, which has 400,000 registered members. During the six months to 30 June 2005, 93.4% of revenues were derived from casino games and 6.6% from poker.
“32Red has built a strong reputation in the UK for delivering one of the best gaming experiences available online. Our investment in software, fast payment processing, customer service and marketing has paid off and delivered strong revenue growth in a competitive market,” Ed Ware, CEO of 32Red said.