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Maiden Quarter for Party Bwin
Written On 5/6/11 By Recentpoker.com staff writer Lenny Wasman :
Relatively quiet start for a new online gambling giant
The recently merged Bwin.party Digital group issued an interim management report for the period January 1 to May 5 2011 as the week ended, laying out a relatively quiet set of key performance indicators.
The statement indicates that this is the first time that Bwin.party has produced combined KPIs for Q1 2011, Q4 2010 and Q1 2010, which are provided for illustrative purposes only, given that the merger did not become effective until 31 March 2011.
First quarter highlights included:
* Total net revenue up 2 percent to Euro 217.8 million (2010: Euro 213.9 million);
* Average daily revenue up 4 percent versus the previous quarter with growth in sports betting, casino and other games offset by weakness in poker
* Sports betting revenue up 11 percent to Euro 71.6 million (2010: Euro 64.6 million);
* Average daily sports betting revenue up 12 percent versus the previous quarter due to strong gross win margin
* Casino and other games revenue up 8 percent at Euro 64.8 million (2010: Euro 60.2 million);
* Average daily casino revenue up 3 percent versus the previous quarter due to increased player activity
* Poker revenue down 14 percent to Euro 54 million (2010: Euro 62.8 million);
* Average daily poker revenue down 4 percent versus the previous quarter due to competitive pressures
* Bingo revenue flat at Euro 18.3 million (2010: Euro 18.3 million);
* Average daily bingo revenue up 3 percent versus the previous quarter driven by both increased player numbers and yield
Current trading has seen a pick-up in poker player sign-ups following the DoJ’s action against certain US-facing sites but it is too early to fully assess likely impact, Management reported.
Co-chief executive officers Jim Ryan and Norbert Teufelberger commented: “We are pleased to announce our first results following the merger, with our announcement today showing what we would have achieved had the merger between PartyGaming and Bwin occurred on 1 January 2010.
"Overall pro forma revenue in Q1 was 2 percent ahead versus the prior year despite the closure of our casino business in France.
"In respect of current trading, average daily gross revenue is down 7 percent versus the average for the first quarter, reflecting the normal seasonal pattern seen in previous years.
“Following steps taken by the US government to enforce its laws, we have seen an uplift in new player sign-ups on our poker sites despite the impact of seasonality. In the period 15 April to 30 April 2011, we have experienced a 33 percent increase in average daily new player sign-ups for poker when compared with the previous two-week period. While this represents only a short trading period, it is nonetheless encouraging.
“We are continuing to lobby for changes to the proposals made by the Minister Presidents in Germany on 6 April that proposed an unviable form of regulation which we and others believe to be inconsistent with EU law, as well as monitor developments in Greece, Spain and the Netherlands.
"Outside Europe, the recent action taken by the regulatory authorities in the US may signal an appetite to regulate and there are bills currently being contemplated at both a State (California and Florida) as well as at Federal level. We are hopeful that the momentum we have seen in recent weeks may result in further positive developments both in Europe and the US. While it is difficult to predict the short-term impact of any of these regulatory changes, we remain on-track to deliver our merger synergies as previously communicated and remain confident about the Group’s prospects.”
Danske Spil Bingo Moves to Microgaming -
The national lottery of Denmark, Danske Spil, is live on the Microgaming Bingo Network. Danske Spil, the Danish national lottery, is live on the Microgaming Bingo Network following a change to its licence conditions.
Quickfire live on Strendus -
Quickfire powered by Microgaming is extending its reach in the LatAm region with the signing of Strendus. Strendus is the online division of Logrand Entertainment Group. The group comprises several companies that operate gaming and entertainment establishments in Mexico, running 14 land-based casinos in total.
Quickfire content live on BetatHome -
Online gaming and sports betting company bet-at-home was founded in 1999. Today the company has 4.8 million registered customers around the world, offering sports betting, casino, live casino, Vegas games, poker and virtual sports.
Microgaming has donated £30,000 between four charities -
Gift of Giving provides Microgamingís customers the opportunity to vote for one of several charities in their region. In lieu of Christmas gifts, £30,000 is split equally between four global regions: Isle of Man, UK and Europe, Africa, and Rest of the World.
Entertainment Betting Odds: 90th Academy Awards -
The Shape of Water leads Sundayís 90th Academy Awards (8 PM ET, ABC) with 13 Oscar nominations, but when it comes to Best Picture, this highly-acclaimed film is a +140 second-favorite behind Three Billboards Outside Ebbing, Missouri at Ė115.
Fair Play Bets and QuickFire in Deal -
Fair Play Bets enjoys an unrivalled reputation for an outstanding player experience, with secure deposits and withdrawals, surprising casino bonuses and committed customer support. Fair Play Bets is licensed in UK, Malta and Curacao.
Cavaliers Aim to Take Down Wizards on 2/22/18 -
The Cleveland Cavaliers have looked like a different team since making their moves at the trade deadline. The Washington Wizards are up next for the Cavaliers, who will be at home after the All-Star break.
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