Join our community of smart investors

Bwin.Party shakes things up

RESULTS: Bwin.Party Digital Entertainment says it must make "fundamental changes" if it's to turn around its flagging operational performance
September 1, 2014

Chief executive Norbert Teufelberger says that Bwin.Party Digital Entertainment (BPTY) will be "the business it has always wanted to be" by 2015. That will involve "fundamental changes" to transform the online gaming company's operational performance.

IC TIP: Sell at 83p

This admission follows a poor first half. While the sports betting and casino divisions grew revenue by 14 and 7 per cent respectively in regulated markets, this wasn’t enough to offset a soft poker market and the loss of €11.9m revenue from Greece, which Bwin.Party pulled out of following a particularly fierce regulatory crackdown. Overall, adjusted cash profits fell to €46.4m (from €60.7m in 2013).

This is subscriber only content
Start your trial to keep reading
PRINT AND DIGITAL trial

Get 12 weeks for £12
  • Essential access to the website and app
  • Magazine delivered every week
  • Investment ideas, tools and analysis
Have an account? Sign in