The online gaming group is blaming the fall on a new gaming tax in the German market and a drop in poker sales.
Net revenue in the three months to October 31 was down to €175.7m, 10 per cent lower than the same period in 2011.
In a statement, bwin.party said: "The introduction of a five per cent turnover tax on sports betting in Germany, revenue decline in poker and continued pressure on consumer spending, particularly in parts of southern Europe, held back our performance in the third quarter." The new tax rule in Germany, which came into effect on July 1, saw bwin.party remove short-odds bets.
Poker net revenue dropped 29 per cent year-on-year, to €37m. However, the group said the imminent integration of its online poker networks would provide a catalyst for growth.
Despite the fall in revenue, the third quarter also saw a late upturn in business. Thanks largely to a strong recovery in sports betting, bwin.party reported a 19 per cent rise in daily net revenue in October. The group said it was confident about the full-year results.
