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.
Sports betting software provider OpenBet has been awarded a One Star accreditation in the 2015 Sunday Times Best Companies to Work For survey.
With a familiar glint in its eye, Paddy Power has reported record profits of €167m for the 12 months to December 31, 2014, despite the year, in the bookmaker’s words, having “more ups and downs than Taylor Swift's love life.”
Online gaming helped drive increased revenues at Gala Coral in Q1 with i-gaming EBITDA of £12.9m, up 19 per cent on the same period in 2014.
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