Bwin.party has posted total revenue of €317.1m for the six months to June 30, down 7.5 per cent on the same period in 2013.

bwin.party

The company said in a statement that the loss of €11.9m of revenue from Greece following the closure of that market had been partially mitigated by a positive FIFA World Cup. However, gross gaming revenue from mobile leapt by 125 per cent to €67.4m.

Clean EBITDA, which includes adjustments for exchange differences and other expenses, fell to €46.4m from €60.7m in 2013 due in part to €7.3m of operating losses in New Jersey, reduced domain sales and the loss of the company’s Greek market.

CEO Norbert Teufelberger said in a statement: "Trading during the first half of 2014 was mixed with a solid performance from sports betting more than offset by year-on-year declines in casino and poker, particularly in countries that were no longer a core area of focus.

“We are on track with our current cost-saving measures, however it is clear that a more fundamental approach is needed to turn around our commercial and operational performance.

“This requires a major change: we are simplifying our structure to accelerate the execution of our plans to drive revenue growth, increase our focus on customers in nationally regulated and/or taxed markets, and further reduce infrastructure costs.”