Bwin.Party Casino Apps Financials for Q3 2012
Bwin.Party has released its financial record for Q3 – 2012 last Friday. The results were not what the company was hoping for as the total revenue increased by 5% when compared to last year’s same period. It went down to 184.4 million Euros from 201.1 million Euros.
The daily revenue decreased by eight percent from Q3 – 2011. It also indicated that the revenue for the 9-month period that ended on the 30th of September reached 594.5 million Euros which is one percent less than the 599.1 million Euros of last year. The gaming apps and casino apps section’s revenue also suffered a decrease. The decrease was a 5% decrease from last year’s revenue as it reached 65.2 million Euros.
Gambling Apps Revenue and Sports Betting
The revenue for the third quarter was negatively affected by the sport wagering tax that was implemented in Germany and the decrease in the poker revenue. Sign-ups from real money players also decreased by 34% to 282,700 in Q3 as it reached 430,400 players in Q3 of 2011. The financial report also stated that the Ongame poker network was successfully sold to Amaya Gaming.
Norbert Teufelberger and Jim Ryan, the CO-CEOs of Bwin.Party stated that the 5% tax on the turnover from sport wagering in Germany and the decline in poker revenue were the two main reasons that caused the bad performance of the company in the 3rd quarter. Nonetheless, they have stated that they are encouraged by the great recovery in trading following the 30th of September.