| Bingo Revenues Flat at Newly Formed Bwin |
| Written by Mark Bennett |
| Tuesday, 10 May 2011 09:38 |
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Bwin.party digital entertainment, the outcome of the merger of Bwin and Partgygaming has said that online poker is still declining; sports betting is increasing and no change in the bingo numbers. Revenues for the company were up on a pro forma basis by 2% to €217.8m from €213.9m for the first quarter when compared to the same period last year and daily revenues in comparison to the fourth quarter of 2010 were up 4%. Bingo revenue was flat at €18.3m, however the average daily revenues showed a 3% increase in comparison to the last quarter with an increase in both players and yield. Sports betting was the biggest winner with revenues up 11% on the same period last year to €71.6m, and the average since the last quarter up 12%. Casino & Other Games revenue was up 8% at €64.8m and showed a modest increase on the last quarter Poker revenue declined 14% to €54.0m from €62.8m in the first quarter of 2010. Average daily revenues were down 4% in comparison to the last quarter. The group pointed out that trading in poker had seen a benefit in light of recent actions in the US. "Following steps taken by the US government to enforce its laws, we have seen an uplift in new player sign-ups on our poker sites despite the impact of seasonality. In the period 15 April to 30 April 2011, we have experienced a 33% increase in average daily new player sign-ups for poker when compared with the previous two-week period. While this represents only a short trading period, it is nonetheless encouraging,” suggested the co-chief executives Jim Ryan and Norbert Teufelberger.
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