SBC News Voice of the Sports Betting Industry
European igaming operator bwin.party reported increased revenues of 2% for its Q3 2014 performance. During the period ending 30 September, bwin.party recorded increased total revenues of €148.7 million (£118.5 million) up from 2013: €145.7 million.
Sports betting proved to be bwin.party’s leading vertical generating an 11% increase in net revenues of €58.8 million (£46.7 million) up from 2013: €52.9 million. Improved sports betting performance was driven by an increase in active players during the period and an improved product margin which saw bwin.party maintain a 10.6 gross margin during Q3 2014.
bwin.party reported revenue decline in other verticals, Casino and Games revenue saw a decrease of 3% (2014: €48.5 million / 2013: €50.1 million). Poker saw a steep 25% decline in revenues (2014: €17.5 million / 2013: €23.3 million). Bingo performance remained relatively flat with a 1% decrease to €12.1 million (2013: €12.2 million)
Commenting on Q3 corporate performance bwin.party Chief Executive Norbert Teufelberger, said:
“Our overall revenue performance in the third quarter was in-line with our expectations whilst Clean EBITDA margins have benefited from our previously announced cost savings. We continue to make good progress on expanding our mobile footprint and our presence in nationally regulated and/or taxed markets and we remain confident about the full year outlook
The performance figures reported for Q3 2014, exclude Greek market losses, as the operator pulled all betting and gaming operations from the region.
The operator’s strategy to focus on regulated European markets has seen a 10% year-on-year increase in revenues from regulated market operations. bwin.party reported that regulated markets accounted for 56% of corporate revenues (2013: 53%)
bwin.party Q3 2014 Performance Overview
