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.
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