Bwin.party Digital Profits From Games Launched in Italy

Despite the economic worries faced by Europe, Bwin.party Digital, the largest online gaming company in the world, dismissed economic and financial worries and reported a rise in third quarter revenues. This is due, in part, to the launch of new online casino games for real money in Italy. The company has also experienced growth in its casino operations.

Revenue Trend

Bwin.party encompasses widely used brands such as PartyPoker, Foxy Bingo, Bwin and PartyCasino. The company recently announced that its net revenue has risen by 3%. In the third quarter, its net revenue was 201.1 million euros.

The company was formed through the merger of Bwin (Austria) and PartyGaming in early 2011. The company said that its revenue in the third quarter jumped after the launch of new games like real money blackjack and roulette in Italy.

The company continues to offer approximately 30,000 bets each day in more than 90 sports. Bwin.party said that it had benefited from the ban on the US site, Full Tilt Poker that was charged with illegal gambling by the US Department of Justice. The company said that trading was currently healthy and meeting the expectations of Bwin.party’s management.

The CFO of Bwin.party, Martin Weigold said that the company expected its business to be resilient to the recession. He said that there are some markets that have been thit badly by the economic crisis and Greece stands out among these. Weigold said that the company’s records show quarterly growth from the region but the annual figures show a large decline.

Greece Could Drop the Euro

Co-CEO of Bwin.party, Jim Ryan said that Greece potentially abandoning the use of the euro would have limited impact on the gambling business. He said that if they did drop the euro, they would still make use of Bwin.party’s services through another currency. The gambling industry has been a traditional standby for the entertainment industry, especially during times of financial and economic crisis.

Germany Bans Private Sector Gaming Operators

In September 2023, Germany’s highest civil court introduced a ban on private-sector online gambling operators. Germany is Bwin.Party’s biggest market, bringing in 22% of their revenues. The company stated that it was collaborating with German states regarding the regulatory framework and hope it would be eligible to receive a gaming license for the Schleswig-Holstein, a state in north Germany which allows gambling.

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