Bwin.party saw its total revenues drop three per cent to €398.0m for the first half of 2011.
In its half year report for the six months ended June 30, 2011, co-CEOs Jim Ryan and Norbert Teufelberger said that the closure of its French casino and increased gaming taxes need to be taken into account when comparing its year-on-year performance.
"The expansion of online gaming in newly regulating markets has delivered promising levels of revenue growth, albeit with additional costs in the form of gaming taxes and compliance costs. However, we are encouraged by a number of recent developments where governments are recognising the need to create a commercially sustainable regulated market without which consumers will simply seek out more attractive offers on the ‘black market’. We expect that this will result in further favourable long-term changes to existing and future regulatory frameworks," said a statement from Ryan and Teufelberger.
The suspension of Full Tilt Poker’s gaming license at the end of June removed a major competitor in poker and bwin.party has consequently seen an improvement in player numbers and average daily revenues.
