The popular online gambling operator bwin.party revealed information about its financial performance during 2014. It was announced that the blocking of IPS in Greece has impacted the revenue in a negative manner. The numbers concerning the poker activities are not too optimistic as well.
Company representatives announced that the EBITDA as well as the net revenues marked a decline of 6% YOY as a result of the ISP blocking and problematic poker activities.
The 12-month period ended on December 31st, 2014 and the numbers show that the revenue of bwin.party dropped to €611.9 million. In comparison, in 2013, the revenue was €652.4 million. In other words a decline of €40.5 million was noticed. As for the clean EBITDA, it totaled €101.2 million or a drop of almost €7 million was marked.
As expected, the representatives of bwin.party attributed the sharp decline in total revenues and EBITDA to the continuous issues that have befallen the poker sector. As already reported, the ISP blocking in Greece also had a negative impact on last year’s financial performance.
The company commented on the imminent actions the company makes towards entering the regulated markets takes more time than expected. Yet, compared to the results from 2013, bwin.party reports a slight increase in revenues generated from activities on the regulated markets.
Speaking of the sportsbook, no significant increase has been noticed during the previous year. It kept the positions from 2013 and totaled €237.1 million due to the World Cup event. Bingo games revenue did not undergo an increase, either.
As already mentioned, the poker sector is experiencing serious issues and the revenue declined sharply to reach €81.7 million. In other words, the decline was estimated to 29% YOY.
The Chief Executive Officer of bwin.party, Norbert Teufelberger, was reached for a comment and said that bwin.party executives are pleased with the progress made towards increasing revenues generated on foreign markets and the widened variety of convenient mobile features bwin.party provides its users with.
Mr. Teufelberger could not deny the fact that the ISP blocking and the pessimistic situation in the poker segment had led to disappointments.
As far as the gaming business of bwin.party in the US is concerned, the operator can take pride in being among the well-recongized ones. Although it works in collaboration with prominent casinos in New Jersey, numbers show that there was a decline amounting to €9.8 million. However, the social games reported an increase of €6.7 million YOY.
