Bwin.party digital entertainment reported a solid third quarter performance helped by strong growth in casino and new games in Italy.
In its Q3 interim management statement for the period from July 1 until November 7, it reported an increase of three per cent to €201.1m compared with the same period last year in total pro forma revenue. Average daily revenue is up eight per cent on the previous quarter.
Among its third quarter highlights, the company stated that the Ongame sale is expected to be completed by the end of the year, its US strategy with MGM and Boyd is in place and preparation into Denmark and Spain is on track. The company remains on track to deliver its merger synergies despite the effects of regulatory changes.
Jim Ryan and Norbert Teufelberger, co-CEOs, commented: “Trading remained solid in the third quarter thanks to the launch of new games in Italy on July 18, 2011, as well as the interim closure of Full Tilt Poker, both of which have been positive for poker and casino revenues in the period. During the first few weeks of the fourth quarter, average daily revenues have remained robust and in line with our expectations."
