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.
Atari, the legendary maker of classic video games behind titles such as Asteroids and Pac-Man, is entering the world of real-money gaming via a partnership with Pariplay.
The New York-based activist investor Jason Ader (pictured) is taking on bwin.party by proposing four directors for the board of Bwin, the parent company of PartyPoker and others, through his company SpringOwl Asset Management.
Sports betting specialist Sportradar and SportAccord, the union of all Olympic and non-Olympic sports international federations, signed a memorandum of understanding during the 2014 SportAccord Convention to align their prevention and education approaches on sports betting integrity.
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