Positive predictions from bwin.party - 10th January 2013

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Online gaming provider bwin.party digital entertainment has announced that trading since the end of September has been in-line with expectations due to its gross win sportsbetting margin returning to more normalised levels.

Gibraltar-based bwin.party additionally revealed that its clean earnings before interest, tax, depreciation and amortisation margin for the twelve months to December 31 is expected to be between 19.5 percent and 20.5 percent while it has completed the successful migration of bwin.com customers to its single technology platform and is line to deliver €65 million in synergies this year.

bwin.party declared that its gross win sportsbetting margins enjoyed a very strong run of results in October while stating that current levels are ‘well above’ those for the corresponding period in 2011 due to a shift towards longer odds and the partial recovery of the five percent turnover tax from German customers.

In poker, bwin.party said that new sign-ups and active player days may be reduced due to a greater focus on acquisition via direct channels rather than via affiliates, although this is not expected to materially affect revenues as it continues to ‘improve the poker ecology within our network’.

“We remain on course to launch an all-new version of PartyPoker.com during the first half of 2013,” read the update from bwin.party.

For casino, bwin.party announced that it successfully launched a range of slots for its Italian customers on December 3 and declared that early indications are that this has ‘been encouraging’ and ‘in-line with expectations’ while its bingo operations have remained ‘steady since September’.
“In respect of the merger integration, a key milestone was reached with the successful migration of the bwin.com customers onto our single technology platform on December 17,” read the update from bwin.party.

“The remaining French and Italian migrations remain on track to complete in the first half of 2013.”