32Red warns it may not meet full-year market expectations

Thursday August 31, 2006

32Red Plc, the online casino, poker and sportsbetting operator, today said trading since the end of June has been mixed and may result in market expectations for its full-year results not being met.

Issuing its half-year results, it said total first half revenues were up 48 pct on last year to 6.2 mln stg.

However it admitted that trading at its casino operation was recovering more slowly than anticipated after the football World Cup slowdown.

Performance at the company's poker operations has been softer than anticipated, it said, with 2005's growth path not continuing, which it blamed on market factors and aggressive competition.

The company also said that it suffered a 'difficult' Goodwood horseracing meeting in late July, but it said it is confident that 2007 and beyond present significant opportunities for the company.