Greek woes hit bwin.party profits

November 14, 2013 by Stewart Darkin

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Revealing a 21 per cent drop in revenues in Q3, bwin.party said a block on access to its products in Greece was a factor and would continue to affect revenue and profit this year.
bwin.party

As revenues fell to €145.7m, bwin.party blamed action by the Greek authorities to block access to over 400 gaming sites including its own, adding that the move would have a modest net impact on revenue and EBITDA this year.

Norbert Teufelberger, bwin.party CEO, said: "As we expected, our underlying third-quarter performance appears to have represented the floor in what has been a transitional year for the group.”

He added that the effects of the Greek dispute would be offset by full-year 2013 cost savings of more than €70m.

Source: Reuters

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