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Good Third Quarter Earnings For Bwin.Party

Tuesday, November 8, 2011 : STRONG GROWTH IN ONLINE CASINO ENHANCES BWIN.PARTY THIRD QUARTER
 
Sell-off of Ongame should be completed by year-end
 
Bwin.party digital's Q3 2011 results have been released, showing strong growth in online casino, new games for Italy and improved performance from poker operations, thanks to less competition due to Full Tilt Poker's troubles.
 
The sale of the Ongame network - now superfluous following the merger - is expected to complete by year end to an as yet unknown buyer, management reports.
 
The company's interim management statement includes the following highlights for the period July q to November 7, 2011:
 
• Solid third quarter performance driven by strong growth in casino, new games in Italy and improved competitive position in dotcom poker
 
• Total pro forma revenue up 3 percent to Euro 201.1 million (2010: Euro 194.7 million); average daily revenue up 8 percent on the previous quarter
 
• Current trading remains robust, up 9 percent versus Q3 and in line with management’s expectations
 
• Ongame sale expected to complete by the end of the year
 
• Merger synergies and savings remain on course - Euro 40 million in 2012 and Euro 65 million in 2013
 
• Preparation for entry into Denmark and Spain on-track
 
• US strategy in place with MGM Resorts and Boyd Gaming
 
Commenting on today’s announcements, joint chief executives Jim Ryan and Norbert Teufelberger, said:
 
“Trading remained solid in the third quarter thanks to the launch of new games in Italy on 18 July 2011 as well as the interim closure of Full Tilt Poker, both of which have been positive for poker and casino revenues in the 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 1 January 2012.
 
"In Germany, we welcome the revised proposal from the Minister Presidents that seeks to open the online sports betting 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 licence in Schleswig-Holstein, the most northern state in Germany that has already enacted legislation that has been cleared by the European Commission.
 
“In the United States, momentum continues to build at both a federal and state level and as a result we recently announced our US strategy with MGM and Boyd, two of the pillars of the US land-based gaming industry and are preparing to enter into a preliminary suitability review with the Nevada Gaming Control Board.
 
“While the effects of regulatory changes are difficult to predict, we remain on-track to deliver our merger synergies as previously communicated, our planned sale of Ongame is on-track, we have a healthy balance sheet and remain confident about the Group’s full year prospects.”
 
Detailed numbers are here: http://www.bwinparty.com/Investors/FinancialNews/2011/111108%20IMS%20and%202011%20Q3%20KPIs.aspx



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NHL Odds: Forsberg Faces Elliott in Nashville - The last time the Nashville Predators played against the Calgary Flames, Calgary had a 4-1 lead five minutes into the second period. Nashville responded with four back-to-back goals, including a hat trick from centreman Filip Forsberg. Both teams went into overtime with five goals, and Calgary defenseman Mark Giordano (12 goals, 22 assists) scored the winning goal.

Sit & Go 2.0 launched online exclusively at Americas Cardroom - Get ready to cheer like a champion before the first flop is even dealt. The much-anticipated Sit & Go 2.0 is now launched online exclusively at Americas Cardroom and Sit & Go players are reaping the benefits of the next evolution of poker.

NBA Odds: Hawks, Wiz in Southeast Showdown - The Washington Wizards (42-27 SU, 36-32-1 ATS) can pretty much secure the Southeast Division title with a win Wednesday night over the Atlanta Hawks (37-32 SU, 31-38 ATS). Tip-off is at 8 PM ET on ESPN; the Wizards lead Atlanta by five games with less than a month remaining before the playoffs.

Mega Moolah progressive jackpot Hit Again - Microgaming’s Mega Moolah progressive jackpot slot has been hit yet again at just over €6.6 million!

NBA Odds: Clippers Try to Slow Down Bucks in LA - Milwaukee Bucks small forward Giannis Antetokounmpo and Los Angeles Clippers power forward Blake Griffin are two of the most talented and versatile forwards in the NBA. The two lead their teams into battle on Wednesday in Los Angeles.

NCAAB Odds: SMU Hosts Tulsa With AAC Title on the Line - There aren’t too many college basketball teams more profitable than the SMU Mustangs (25-4 SU, 18-5-1 ATS). They host the Tulsa Golden Hurricane (14-14 SU, 15-12 ATS) this Thursday night, tipping off at 8 PM ET on CBSSN.

NHL Odds: Canadiens Welcome Islanders Tonight - The Montreal Canadiens (32-20-8) welcome the New York Islanders (28-21-10) on Thursday (7:30 PM ET on SNE). After getting their first victory under new head coach Claude Julien, the Canadiens will look to build on that momentum against a red-hot Islanders team.

NHL Odds: Reeling Flyers Seek Relief in Pittsburgh - #nhl The Philadelphia Flyers have been a bit off since the holidays. They’ve won just eight games since the Christmas break, and now they’ve got a tough one coming up this Saturday night against the Pittsburgh Penguins.

Dollars to Donuts Slot Launch - Firstly, it's a classically styled, easy playing 3-reel with five pay lines featuring a traditional icon set of bars and sevens.

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