Greek woes hit bwin.party profits
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.
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.
Total digital net revenue at Ladbrokes was up nearly 50 per cent during the three months to September 30.
Playtech saw revenue increase 28.6 per cent in the third quarter of this year.
EiG 2014 opened its doors in Berlin today as the online gaming industry descended on Arena Berlin in the city's Treptow district.
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