Revenues fell at bwin.party in 2014, with the online operator reporting total revenue of €611.9m for the 12 months to December 31 – a drop of 6.2 per cent on 2013.
In the same period, bwin.party made an operating loss of €94.3m against a €51.9m profit in 2013.
CEO Norbert Teufelberger said: “We have made solid progress this year in growing our share of revenues from nationally regulated and/or taxed markets, increasing our mobile footprint and reducing our cost base.
“However, the full year impact of ISP blocking in Greece coupled with the structural decline of regulated poker markets in continental Europe affected our overall financial performance for the year.”
Sports betting remains at the core of the bwin.party business, recording €237.1m revenues in 2014 – a one per cent year-on-year increase. Sports betting was the only segment to see an increase in revenues in the year, reflecting the positive impact on the business of the 2014 FIFA World Cup.
Total sports stakes were down three per cent to €2.7bn. Revenues for casino were down six per cent to €203.7m with total stakes sticking at €7bn.
Poker revenues fell 29 per cent to €81.7m – although poker earnings (clean EBITDA) still recorded a three per cent increase to €7.9m.
Bwin.party said today that it had received indicative offers from several groups interested in buying part or all of the company.
According to the Financial Times, Philip Yea, non-executive chairman of bwin.party, said the company was in “further discussions” with the potential buyers, but declined to say how many there were or when any conclusion might be reached.
