Shares in Bwin.Party jump 8pc after bullish growth forecast

BWIN.PARTY yesterday reported a positive outlook for 2014 with growth expected in the US.

The gambling company also said that trading in the 11 weeks since the end of September 2013 was in-line with its expectations. Its share price rose 8.4 per cent to 125.4p on the news.

In 2014 Bwin expects the FIFA World Cup will see increased betting volumes along with the company’s expansion in areas of the United States where gambling rules have been relaxed.

After becoming the online poker and casino market leader in New Jersey last month, Bwin said it is focused on producing a much improved mobile offering for 2014. Mobile currently accounts for 25 per cent of daily revenue.

It also announced its US marketing and launch-related costs were between €7m (£5.8m) and €10m from its online poker and casino applications.

Gross profit margins in 2013 for the group are set to be between 16 and 17 per cent.

Non-executive chairman, Simon Duffy, is to stand down in May’s annual meeting after three years in the post.