Bwin.Party Report a Rise in Revenues

Bwin,party is going through some unclear shifts in revenues. On one hand the company reported an 8 per cent drop in total revenues for the first quarter of 2014; however the company announced that overall results have improved.

The company claims that drops in revenues across all its gaming verticals are due to two main reasons; firstly Greek internet service providers (ISP) have blocked all gambling sites so bwin.party, among other gaming site operators, took a hit as it closed the Greek market to them.

The other reason for the decline in revenues is that bwin.party went through a tactical shift in the focus of the company by moving from focusing on volumes of gamblers to focusing on attracting and retaining a better quality of gamblers.

This move seems to be working well for the company but it did take a toll on their short-term revenues as numbers of gamblers have declined. Bwin.party CEO has issued a statement saying “Whilst we are investing in growing our share in nationally regulated markets, the EUR20 million of additional cost savings should help to drive higher clean [earnings before interest, taxes, depreciation margins in 2014,"

The group now appointed Phillip Yea to take over from Chairman of the Board Simon Duffy in a move that they hope will bring greater stability in 2014.