by Renee Israel
Bwin.Party Digital Entertainment, the largest listed online gaming operator
in the world, has recently released interim financial results for Q3 of 2011.
The Gibraltar-based operator has reported a three percent increase to €
201.1 million in pro forma revenues year-on-year and an average daily net
increase in revenues of eight percent to €2.185 million compared to the
previous quarter.
Bwin.Party has announced that 430,400 new customers were signed up over the
last quarter across all product verticals, including a six percent increase from
the last quarter. The company reported that the average number of players per
day was down one percent since last quarter and down four percent year-on-year.
Casino and Other Games Boost the Business
Casino and other games were highly successful and contributed to the positive
Bwin.Party third quarter results. Net revenue in casino and other games was up
15 percent compared to the last quarter and up 25 percent year-on-year. Casino
client numbers were up 14 percent year-on-year and the average yield per active
player rose ten percent to €27.10.
Jim Ryan and Norbert Tuefelberger, co-CEOs for Bwin.Party released a
statement that read, "Trading remained solid in the third quarter thanks to the
launch of new games in Italy on July 18, 2011 as well as the interim closure of
FullTiltPoker.com, both of which have been positive for poker and casino
revenues in this period."
"During the first few weeks of the fourth quarter average daily revenues have
remained robust and in-line with our expectations."
"The regulatory landscape continues to evolve and we are on-track to launch
new regional labels in both Spain and Denmark on January 1, 2012. In Germany we
welcome the revised proposal from the Minister Presidents that seeks to open the
online sportsbetting market.
"Although the proposal falls short of the requirements prescribed by the
European Court of Justice, we remain optimistic that changes can and will be
made so that the regime becomes fully compliant and will foster a vibrant
regulated market. In the meantime, we are preparing to secure a license in
Schleswig-Holstein, the most northern state in Germany that has already enacted
legislation that has been cleared by the European Commission."
The statement continued that while "the effects of regulatory changes are
difficult to predict, we remain on-track to deliver our merger synergies" and
that they are confident about the prospects of the group for the coming year,
following the positive Bwin.Party third quarter results.
