Internet betting giant Bwin.Party Digital Entertainment has released its latest quarterly trading update, showcasing results that fall in line with what analysts projected.
Company highlights for the eleven week period beginning September 30th, 2013 were:
52% of average net daily revenue was derived from nationally and/or taxed markets
Gross win margins in sports betting have remained strong, with betting volumes slightly lower reflecting a reduced sporting calendar during the international series of football matches in November.
Mobile remains an important channel representing approximately 25% of sports average daily net revenue in the period. A new version of the company's sports mobile product went live in Spain this week and will be rolled out to our other markets during the first half of 2014.
Poker revenues have grown since the introduction of the bwin's new poker client which is currently available to approximately 65% of its customers, as well as from the launch into New Jersey where bwin's network is reportedly market leader based on the number of cash game players in data from PokerScout.
Commenting on the results, Bwin Non-Executive Chairman Simon Duffy said, “The Group has faced numerous challenges over the past three years, but most of them are now behind us and I am confident that, under the leadership of Norbert Teufelberger, bwin.party is well-placed to return to growth by capitalising on its strong market position, leading brands and proprietary technology.”