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Growth returns at Bwin.Party

Despite a poor set of interim results, Bwin.Party Digital Entertainment (BPTY) has found renewed sales momentum.
October 17, 2014

After a dismal set of interim results, following which chief executive Norbert Teufelberger announced "fundamental changes" to the group's business model, Bwin.Party Digital Entertainment (BPTY) has reported 2 per cent sales growth during the third quarter.

IC TIP: Hold at 84p

That said, the poker market is still challenging, and revenues in that division fell 25 per cent over the summer. Casino net revenue also struggled, falling 3 per cent, but a surge in mobile revenues spurred an 11 per cent improvement in sports betting net revenue. As a percentage, mobile sales represented 23 per cent of gross gaming revenue, up from 13 per cent in 2013.