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Revenue Warning by Bwin Party Digital

16.02.2015 | Antoan Tok

Party Poker is a famous online poker room, and behind it stands the Bwin Party Digital Company, which is based in Gibraltar. There are also other well-known brands that are connected to that company like Foxy Bingo for example.

When the stock market was closed on Tuesday, the company made an announcement in the end of the day. There were expectations that the revenue for the year would be about €618 to €630m, which was the City estimation, or to reach at least €608-612m.

The company says that due to the gross-win margin that there was in the past month in sports betting, their revenues have been hit.

The main part of the sports betting of the company is in Europe so the company’s revenue suffered due to the performance of several teams from the European league. They had quite a good period during last December.

It is commented in this circle that the company FTSE 250 is in negotiations with several unnamed groups. The firm includes famous brands like Foxy Bingo and Party Casino. The reason for doing this step is that the costs should be cut with about €30m.

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