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Bwin Party Reports strong trading going in to fourth quarter

Wednesday October 28,2015 : BWIN.PARTY FEELS BRUNT OF EU VAT OBLIGATIONS

Reports strong trading going in to fourth quarter.

bwin.party digital entertainment released a third quarter 2015 trading update Wednesday showing an 8 percent decline in total revenue impacted, it says, by the absence of a major football tournament, the sale of non-core businesses and EU VAT obligations.

Key performance highlights for the nine month period ending September 30, 2015 include:

-    Clean EBITDA up 5 percent to Euro 79.8 million (9M/2014: Euro 76.1 million).

-    Total revenue down 8 percent to Euro 429.9 million (9M/2014: Euro 465.8 million).

bwin.party reported a rise in sports betting turnover compared to the same period last year, despite no World Cup, and a recovery in sports margins from the first half but which were still lower than last year.

The company’s administration expenses cost saving strategy has been successful on its original Euro 15 million target and current trading is strong, bwin.party reports, with average daily revenues of Euro 1.484 million, up 9 percent on last year.

Chief executive officer Norbert Teufelberger, commenting on the results, said:

“Whilst our year-on-year revenue performance has been held back by the impact of EU VAT and the absence of a major football tournament, we have a made a strong start in the fourth quarter, particularly in sports betting and casino.

"Despite the impact of the introduction of VAT in a number of EU markets, as well as the POCT that was introduced on 1 December 2014, our Clean EBITDA for the nine months ended 30 September is 5% ahead of the same period last year.  Excluding the impact of EU VAT and the POCT, Clean EBITDA would have been €96.1m, an increase of 26% on the same period last year.

"Current trading has been strong, despite the impact of EU VAT and further declines in poker.  With solid progress on expanding our mobile footprint and the full year benefit of the cost savings already made, we remain confident about the outlook.”

In related news, bwin.party expects its merger deal with GVC to be complete early 2016.

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Gambling News :

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.

Secret Symbol Slot - RTG will soon release 'Secret Symbol', a 5 Reel Video Slot on 3/15/2017.

Microgaming is set to release three exciting new games in March - Pollen Party will literally have players buzzing with excitement as the ground-breaking, 720 way variable reel online slot is brought to life in a unique honeycomb reel layout.

NBA Odds: Resurgent Clippers Face Warriors in Oakland - After a much-needed lineup shuffle, the Los Angeles Clippers (29-27 SU, 35-21 ATS) carry a four-game SU and ATS winning streak into Thursday’s game against the best team in the NBA, the Golden State Warriors (47-9 SU, 27-27-2 ATS). Tip-off is at 10:30 PM ET on TNT.

NBA Odds: New-Look Pelicans Host Rockets on Thursday - The New Orleans Pelicans just hosted the All-Star Game and saw their very own Anthony Davis win the MVP. But the celebration was brief because the next day, the Pelicans made a huge trade,

PokerStars.CZ has launched in the Czech Republic - PokerStars.CZ has launched in the Czech Republic, becoming the first licensed online casino and poker operator under the Czech Republic’s new gaming regulation. This follows on from the approval by the Czech State Supervision of Gambling and Lotteries Department.

Luckia Games in Partnership with NYX Gaming Group - NYX will provide Luckia with its open gaming system, NYX OGS, and open platform system, NYX OPS, to support the growth of its established Spanish operation.

Sunbets to Sponsor Sutton United - Online betting operator Sun Bets has inked a one-off sponsorship deal with English association football club Sutton United for its upcoming televised clash against Arsenal FC in the FA Cup fifth round tie.

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