Financial analysts Peel Hunt have urged shareholders to hang onto shares in bwin.party (Pwin) for the time being. The Evening Standard reported last night that 2012 looks like being “another year when the fog of regulation clouds earnings visibility.” It states the “outlook should clear thereafter.” It comes as one of Pwin’s largest markets (Germany) looks at how to regulate its market, and a number of others look to follow suit. The company’s trading update showed their performance is in line with expectations and the financial update just goes to show how reliant they have become on regulated revenues.
Bet24 and Scandic are the first of seven licensees to be announced for Ongame’s Danish poker network. eGR reports both sites, which already have sites on the network’s dot.com network, will move to dot.dk domains when the market opens on January 1. Martin Lerby, head of marketing and operations at Ongame, told eGR these two sites would be joined by five more “in the next week or so.” Scandic was taken on by Sportingbet earlier this year whilst Bet24 recently signed up WSOP bracelet winner Jesper Hougaard in readiness for this market opening.
In the sunnier climbs of Spain, the French Revolution is attempting to infiltrate the country’s soon-to-be regulated market. According to eGR, Groupe Bernard Tapie, the prospective owners of Full Tilt Poker, applied for a preliminary general licence just before last night’s midnight deadline. Tapie’s group hired a local lawyer from DLA Piper to lend a hand with the application. There were a further 12 applications handed in on Monday while eight forms were given to gaming authorities yesterday. Among those submitting applications were Gtech G2 and Microgaming and it brings the total to around 30 to 35 companies. The official number will be released later today. It’s believed that applicants will find out next week if they’ve been successful.
