Online Gambling Bwin Party Gaming Post First Half Financial Results

Published Wednesday, August 31, 2011 - Online-Casinos.com

Bwin Party has been suggesting that it will try to negotiate deals with partners in the USA pending the possibility that regulated online gambling will be available there sometime in the future. The company is obviously in the game for the long haul looking at the stalemate situation regarding the laws on internet wagering  in America.
Co-Chief Executive Jim Ryan commented on the company plans recently, "We are in contract negotiations with a partner from New Jersey," adding that the group is in discussions with companies that have a country-wide reach and is also negotiating partnerships with companies that operate in states that are most likely to open up online gambling in the near future.

It has been said that the firm should be concentrating on orders of business that are more pressing and immediate.  Bwin.party has just released its latest financial figures revealing a 3% drop in revenue to €398 million (£352.2 million) for the first half of 2011 to June 30th.
With the recent merger the new operator became the world’s biggest online gambling firm, valued at over $2.1 billion with a full range of gambling products such as bwin, PartyPoker, PartyCasino and Foxy Bingo. The lack of enthusiasm after the huge merger resulting in the slumping financial results was blamed on the pulling out of the French market and closing of it’s online casinos there and the increased competition in the internet poker market.

Jim Ryan and Norbert Teufelberger, who are co-chief executives for Bwin Party Gaming commented on the first half financial picture, “The results for the first half reflect our transition to becoming a global leader in all four product verticals with strong market positions in all key regulated markets. The expansion of online gaming in newly regulating markets has delivered promising levels of revenue growth, albeit with additional costs in the form of gaming taxes and compliance costs.”

 

 

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