The first quarter of 2012 has come to an end with some interesting conclusions from Bwin Party, one of the world leaders in the poker and gambling industry.
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According to a recent revenue report published by the company, Bwin Party is gaining and profiting in its gambling and sports betting sectors but failing quite miserably when it comes to the poker industry.
The first quarter has seen a marginal 1% increase in revenue to €215.9 million ($275.8 million), compared to first quarter of 2011. Although in general, only a small percentage of increase is seen, revenue from sports betting wagers alone had risen to 11%, which is worth €1.083 billion, while casino and other games have increased 10% to €71 million. Having said this, Bwin Party notes that although revenue in the above two sectors have shown marked increase, games such as Poker and Bingo suffered a blow with Bingo noting a 15% decline (€15.6 million). This result has been attributed to increased competition in Italy and the closure of the Danish site due to local regulatory policies.
Poker games took a beating and revenues fell by 3% to €52.2 million. The number of players visiting the site per day had also fallen by 15% from last year. The company attributed the fall to last year’s marketing strategy.
The company’s move to adjust player activities in 2011, focusing mainly on low value affiliates rather than high volume; has resulted in a fall of 1% in comparison to last year’s average player numbers.
Inspite of the falling trend seen above, the company is optimistic about their future plans since their recent merger. One thing to be noted however is that, Bwin party shares are trading at 132.20p; lower than their 52 week high of 175.70p. However, the company’s current shares are valued better compared to its 52 week low of 98.50p. The company presents with an overall market capitalization of £1.11 billion.
Bwin Party emphasizes plans to further rope in players by obtaining a German online gambling license.
Further strengthening their statement, company spokesperson has added “With the imminent launch of our download casino product on the Bwin platform, the Euro 2012 football tournament starting next month and the integration of our poker liquidity in the second half, we remain confident about the group’s full year prospects.”
With that the company assures the gambling world that in spite of few negatives, they hope to see more revenue by the end of this year.

Tight Poker Staff

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Tight Poker Staff

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For nearly two decades, we’ve provided the best in class for poker site reviews, top online poker bonuses, strategy tips, poker news, and exclusive free poker content.  Consisting of a team of poker and gambling experts, we deliver the best online poker brand experience for players of all levels, from the fish to the sharks.