Bwin.party digital entertainment posted a rise in total revenue of just 1 percent as the enlarged gaming industry group experienced another challenging quarter. €215.9 million was actual figure on total revenue as a “softer” sports gross win was offset by growth in both casino and other games. Sports betting wagers did rise 11 percent to €1.083 billion for the quarter and casino and other games had an increase in revenue of 10 percent to €71 million. These were the rare bright spots. Poker revenue dropped off 3 percent to €52.2 million while bingo suffered an even worse fate with a decrease of 15 percent to revenue of €15.6 million. Declines in the forte of the elderly were put down to a “loss of market share” and “cannibalization in Italy” before Jim Ryan and Norbert Teufelberger, co-CEOs of the company, admitted: “Trading performance overall in the first quarter has been as expected.”
Good news on the horizon could come in the form of a licence in the German state of Schleswig-Holstein – something they expect to add to their repertoire “soon”. They’ve continued to state they consider the state treaty in breach of EU law and if nothing else this will legitimize a part of the business that German courts have repeatedly dubbed “illegal”.
Not content to have their fingers out of any of the gaming industry’s pie supply, they even saved a corner of their IMS for some social gaming chitchat. They confirmed there will be an “analyst meeting later this month” in which they will lay out their plans for this sector of the industry (no word yet if having Norb and Jim as Facebook friends is an advantage). It’s a side of the industry many are bigging up and if they get involved it could well push the share price up – something that will be an added bonus.
In terms of the U.S.A. there was nothing news and it’s no surprise given the fervent mood of excitement following the signing of a compact with the United Auburn tribe to launch in California. Until then there’s unlikely to be any noise so until next time be gone with you!