Bwin Results for 2012 Disappoint

The 2012 results for online gambling company Bwin.Party have been released and include some disappointing aspects as well as some good news.

Overall, the bad news relates to a reduction in the name of players and higher taxes paid out.  For the period ending at the end of December 2012 the firm’s total revenue was €801.6 million, compared to €691.1 million in the previous year. However, the total gross profit went down from €188 million in 2011 to €154.6 million in 2012.

As part of the revenue collected the Casino and Games part of the company raked in €268.8 million, while in 2011 it has taken in €237.5 million. Poker, meanwhile, brought €173.8 million in to the coffers compared to €184.6 million the previous year.

A Loss But Still Better Than Last Year

However, once tax is taken into account the final result is a loss of €64.7 million, which is better than the 2011 figure of a €431 million after tax.

Norbert Teufelberger is the CEO of Bwin and he said that their “strategy is unchanged” but that they are not just dependent upon innovation to get the business growing again. He said that they are speeding up their pace of change and doing it by moving towards “nationally regulated and to be regulated markets”. Part of this is the imminent launch in the US market, which he thinks could happen in the next year or so. He also pointed out their strategy of having less customers but making those customers more valuable to them.