Bwin.party has released it Q3 results for 2011 which shows strong growth helped by the launch of new games in Italy and strong growth in its casino division. Performance in poker operations also improved as a result of lower as Full Tilt Poker faces problems.

Bwin.party which was formed after Bwin and PartyGaming merged earlier this year, is based in Gibraltar and operates a number of brands including bwin, PartyPoker.com, PartyCasino.com and Foxy Bingo. The company said that total revenues increased by 3 percent to 201.1 million Euros in the third quarter, with a boost by the launch of games such as roulette and blackjack in Italy after the government opened up the market.

The company's interim management statement includes the following highlights for the third quarter:

- Total revenue up 3% to Euro 201.1 million (2010: Euro 194.7 million); average daily revenue up 8% on the previous quarter

- Current trading remains robust, up 9% versus Q3 and in line with management's expectations

- Ongame sale expected to complete by the end of the year- the name of the buyer is yet to be confirmed

- Merger synergies and savings remain on course - Euro 40 million in 2012 and Euro 65 million in 2013

- Preparation for entry into Denmark and Spain on-track

- US strategy in place with MGM Resorts and Boyd Gaming

Jim Ryan and Norbert Teufelberger the joint chief executives commented:

“Trading remained solid in the third quarter thanks to the launch of new games in Italy on 18 July 2011 as well as the interim closure of Full Tilt Poker, both of which have been positive for poker and casino revenues in the period. During the first few weeks of the fourth quarter, average daily revenues have remained robust and in line with our expectations.

The regulatory landscape continues to evolve and we are on-track to launch new regional labels in both Spain and Denmark on 1 January 2012.

While the effects of regulatory changes are difficult to predict, we remain on-track to deliver our merger synergies as previously communicated, our planned sale of Ongame is on-track, we have a healthy balance sheet and remain confident about the Group's full year prospects.”

The company, which offers up to 30,000 bets daily across more than 90 sports, said it had also benefited from a bar on U.S. poker website Full Tilt Poker in April following charges of illegal gambling.

Chief Financial Officer Martin Weigold added: "We expected our business to be resilient but not immune to the recession, and I think that's where we are today,

"There are certain markets that have been particularly hit by the financial crisis ... for us Greece is the one that stands out. However, even Greece shows quarter-on-quarter growth, but if you looked at the year-on-year movement, we have seen a double-digit decline,"