bwin.party Poker Revenue Falls 37 Percent
Company Expects Poker Growth To Return When bwin Poker Players Join Party Poker Network
bwin.party poker revenue continues to decline experiencing a 37 percent drop in the third quarter of 2012 to €37 million compared to €52 million in the same period of 2011.
The company said in its interim financial report, “We believe that the integration of our dotcom poker networks later this quarter will be the first major catalyst to return our poker business to growth.
“This will soon be followed by the launch of PartyPoker on mobile and then a complete repositioning and relaunch of PartyPoker in the first half of 2013.”
The company completed the sale of bwin’s Ongame network to Amaya Gaming for €15 million earlier this week paving the way for bwin poker players to be subsumed into Party Poker. It also signed an agreement with Zynga to provide the online gaming platform with real money poker.
“We have completed the sale of Ongame and entered into an agreement with Zynga,” the company said, “that is a testament to the strength of our vision for the future of poker and casino, our ability to deliver turnkey solutions for strategic partners and our industry-leading position."
bwin.party also said the World Poker Tour saw strong growth in the third quarter but most key metrics for poker for the period showed signs of continuing decline including active player days (down 29 percent), average daily players (29 percent lower), real money sign ups (dropped 59 percent), unique active players (contracted 21 percent).
However in October things took a turn for the better with seasonality and an improved player mix helping poker expand nine percent to an average daily net revenue of €437,800.
Overall at the company, which also operates a sports book, casino and bingo, revenue was down eight percent year-on-year to €184.4 million in the third quarter of 2012.
|1||Damon Impersonates Malkovich From 'Rounders'|
|2||Jon Turner Wins CPPT Venetian Main Event|
|3||Damon Says 'Rounders 2' Would Be About I-Poker|
|4||Poker Strategy: Beware Of Unforced Bets|
|5||Jon Little: Top Poker Pro Becomes Top Instructor|
|6||Caesars In Talks To Sell CIE, But Would Keep WSOP|
|7||Trump Running Mate Has Anti-Online Poker History|
|8||POY: WSOP Main Event Champ To Earn 3,300 Points|
|9||Poker Strategy: Maximizing River Value in Position|
|10||Michigan Men Get Prison For Poker Home Game Robbery|
|1||Poker Pro Folds Quads To All-In Bet In Main Event|
|2||Final Nine Set For 2016 WSOP Main Event|
|3||Fedor Holz Wins 2016 WSOP $111,111 High Roller|
|4||Man Runs Up $10K Into One Drop Buy-In Playing BJ|
|5||Phil Ivey Enters First And Only WSOP Event In 2016|
|6||Raymer Not Impressed By Being Last Former Champ Left|
|7||Mercier Proposes To Girlfriend At Final Table|
|8||Man Pays $10K To Enter Ladies Event At 2016 WSOP|
|9||2016 WSOP Main Event: 80 Players Remain After Day 5|
|10||Money Bubble Bursts In 2016 WSOP Main Event|