SBC News Voice of the Sports Betting Industry
FTSE 250 listed betting operator bwin.party Entertainment ends a tough 2015 on a positive note, recording a 5% Q4 2015 revenue uplift.
Issuing a trading update, bwin.party detailed that its improved performance had been driven by its sports betting and casino divisions, which had been aided by mobile product enhancements introduced during the quarter.
bwin.party governance further detailed that the company had received a one-off circa €10 million payment as part of digital payments’ subsidiary Kalixa Group share considerations following the €21,2 billion acquisition of Visa Europe (earn-out €4.7 billion) by Visa INC.
In what will likely be bwin.party’s last trading update as a FTSE listed entity, the company will now prepare to merge with buyer GVC Holdings by 1 February.
The operator’s improved trading update will be boost for buyer GVC Holdings who will utilise bwin.party’s sports betting platformas the lead wagering technology for its new merged operations.
Following several months of reporting performance declines, bwin.party governance stated that it believed that the company had finally found its form.
With the forthcoming UEFA Euro 2016 championships in the summer and having undertaken much needed cost saving initiatives, bwin.party ended its Q4 2015 trading update stating that it expected a strong 2016 with GVC Holdings.
