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Bwin Party Digital recently released their third quarter revenues and the totals have increased significantly thanks to new games such as blackjack being launched in Italy. The company owns such brands as Bwin, Party Casino, Foxy Bingo and Party Poker, and announced that net revenues grew three percent in the third quarter. The company stated that the increase in revenues was due to the new games such as blackjack and roulette which were launched in Italy. Back in July, the Italian government opened up the market for such games and this helped the company increase their revenues in the third quarter.
Martin Weigold the Chief Financial Officer for the company commented on the increase in net revenues by stating: “We expected our business to be resilient but not immune to the recession, and I think that’s where we are today. There are certain markets that have been particularly hit by the financial…for us Greece is that one that stands out. However, even Greece shows quarter-on-quarter growth, but if you looked at the year-on-year movement, we have seen a double-digit decline.”
Bwin saw an increase in the average daily revenues by eight percent from the last quarter which is a significant increase. The company is now looking to move into the German states if they are able to secure a license. Laws were passed just a few months ago in Germany, which are gambler friendly, so the company is hoping to get the ball rolling and move into the market soon.
2011-11-12
