Bookmakers and gaming giant Bwin.Party (BPTY.L) announced a slight rise of 2% in revenue for the third quarter, the company enjoyed a boost in sports betting over the world cup period.
Revenue for sports betting was up 11% over the period as punters placed more bets on the World Cup and despite a later start to the Euro football session and the loss of revenue due to Greece SP blocking. The rise did however offset a decline in poker (25%), bingo (1%) and casino (3%) revenue.
The company states that it is still confident it is on track to deliver of full year expectations and that Q4 should see the release of new products including the new mobile betting app with the addition of embedded casino games.
Norbert Teufelberger Chief Executive of Bwin.Party commenting said ”Our overall revenue performance in the third quarter was in-line with our expectations whilst clean earnings before interest, tax, depreciation and amortisation (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.”
Shares in Bwin.Party (BPTY.L) were trading up on the day around 86.50p (up 5%) near the close of play.
Bookmakers and gaming giant Bwin.Party (BPTY.L) announced a slight rise of 2% in revenue for the third quarter, the company enjoyed a boost in sports betting over the world cup period.
Revenue for sports betting was up 11% over the period as punters placed more bets on the World Cup and despite a later start to the Euro football session and the loss of revenue due to Greece SP blocking. The rise did however offset a decline in poker (25%), bingo (1%) and casino (3%) revenue.
The company states that it is still confident it is on track to deliver of full year expectations and that Q4 should see the release of new products including the new mobile betting app with the addition of embedded casino games.
Norbert Teufelberger Chief Executive of Bwin.Party commenting said ”Our overall revenue performance in the third quarter was in-line with our expectations whilst clean earnings before interest, tax, depreciation and amortisation (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.”
Shares in Bwin.Party (BPTY.L) were trading up on the day around 86.50p (up 5%) near the close of play.
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