Online casinos in Europe are performing especially well in light of recent laws that have eased restricting regulations on some of them. Among the companies that have benefited the most is 32Red, which expects to post a profit of about $3.3 million for 2011, according to Reuters.
Spurred by the success they have seen in 2011, 32Red is planning on extending its operation into Italy from where it currently resides in Gibraltar. The increased profits are likely a direct result of the company spending more money on marketing campaigns.
"The business is definitely on a roll. We are investing more money in marketing at the topline and we are being more aggressive with our promotions, which are bringing in new players," chief executive Ed Ware told the news provider.
The company sees many of its players come from United Kingdom, where online gambling is very popular. However, Italy may prove to be the future as Spin3* and Neomobile have taken advantage of the regulated market and partnered together to launch a mobile gambling site that is compatible with smartphones.
