bwin.party digital entertainment plans to launch into the social gaming sector this year.
Commenting on the company’s financial results for the full year 2011, co-CEOs Jim Ryan and Norbert Teufelberger said: “As integration projects are completed, we are channelling more resources into driving innovation across the business and through new channels including our proprietary mobile gaming platform. We are also extending our reach into new areas of digital entertainment such as social gaming, where we see significant potential.”
bwin.party reported a 0.2 per cent increase in total revenues to €816m for the year ended December 31, 2011, and it remains “on track to deliver approximately €40m of synergies this year and €65m in 2013." The growth in casino and games, as well as slight improvement in sports betting revenues, made up for a decline in its poker and bingo offering.
Looking ahead, Ryan and Teufelberger said they expect to gain competitive advantage this year from additional scale and improved flexibility, which will flow from the integration and migration of the company’s main products to a single technology platform. The company will also add more casino games and continue to improve its poker and bingo offerings.
They continued: “We have secured strong business partners in the US ahead of any regulation there and have also applied for a licence in Spain, which is expected to regulate in the second quarter of this year. In Germany, we have applied for a gaming licence in Schleswig-Holstein, the only EU-compliant licensing regime available.”
