Bwin.party hit by predictable Euro 2012 results as tax rises

 
City A.M. Reporter
BWIN.PARTY Digital Entertainment, the world’s largest listed online gaming group, said yesterday that a run of predictable results in the Euro 2012 football championship marred a solid performance in its casino and bingo operations in the second quarter.

The company said that its trading performance since the beginning of April was broadly in line with expectations, with solid performances in bingo and casino being offset by continued pressures in poker.

“In sports betting, although the Euro 2012 championship delivered a meaningful uplift in betting activity and customer numbers, gross win margins were lower than expected due to the majority of results following the predicted path,” it said.

But on a more upbeat note, the company added: “While certain southern European markets remain challenging, the launch of the group’s sports, poker, casino and bingo products in Spain went live on 5 June, and the early performance has been encouraging.”