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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.



Gambling News :

NHL Odds: Toronto Maple Leafs vs. Washington Capitals on Tuesday - Auston Matthews and the Toronto Maple Leafs touch down in DC this Tuesday (7 PM ET on TSN) as one of the hottest teams in the NHL. They've tallied a ridiculous 26 goals through only five games played; that's more than five goals scored per game on average. They'll be up against an equally potent Washington Capitals team.

Pro League Reveals Sportradar Contract Details - The partnership between the PLC and Sportradar aims to provide a high-quality level of service to all Arabian Gulf League stakeholders in addition to making verified official data about players performances available to coaching and scouting staff and supplying match information to media outlets.

NFL Odds: Steelers Visit Undefeated Chiefs #TNF - The Kansas City Chiefs (5-0 SU and ATS) have been flawless as an NFL pick thus far. Their chances of remaining undefeated in Week 6 look good; after opening at –4.5, Kansas City is a 5-point home chalk for Sunday’s game against the Pittsburgh Steelers (3-2 SU, 2-3 ATS), beginning at 4:25 PM ET on CBS.

Mega Moolah strikes again - The jackpot was hit on a mobile device on Sunday 1 October 2017 by a UK player on Betway, this time awarding a £1,448,116.31 pay day.

2 New Slots For Microgaming Casinos - David Reynolds, Games Publisher at Microgaming, comments: “On top of our branded title game Halloween, we’re delivering two more slots this October, each bringing exciting features and a different theme.

MLS Odds: Red Bulls vs. Whitecaps - The New York Red Bulls (12W, 12L, 7T) haven’t won a match since August 15, but they’re –165 favorites this Saturday against the visiting Vancouver Whitecaps (15W, 10L, 6T), beginning at 5 PM ET. Vancouver is a +475 underdog with the draw priced at +285.

Velka Pardubicka On RacingUK - Felix de Giles flies the British flag in Sunday’s Velka Pardubicka

Mega Moolah Jackpot Hits on 9/27/2017 - Another millionaire made on Microgaming’s Mega Moolah; 5th largest Microgaming payout

Simon Jones is crowned the Greatest Poker Player in the Universe - A €10,000 leaderboard tracked player progress throughout the series to determine who the Greatest Poker Player in the Universe was. Professional poker player/sports psychology lecturer, Simon Jones, took the crown with a €5,000 cash bonus and trophy to prove it.

MLB Odds: Yankees Favored in AL Wild Card Game - After a strong regular season, the New York Yankees (91-71, –1.00 betting units) opened as –235 home favourites for Tuesday’s AL Wild Card Game against the Minnesota Twins (85-77, +11.48 units). First pitch is at 8 PM ET on ESPN.

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