Successful launch in New Jersey for bwin.party

Bwin.party registered total revenue of €652.4m for the financial year ended 31 December 2013 (€801.6m in 2012), reflecting shift from ‘volume to value’, ISP blocking in Greece, migration losses and the full year impact of gaming taxes in Germany.

“2013 was a challenging year for our business, but it also marked a turning point as we increased our focus on regulated and to-be-regulated markets, began to roll-out new and refreshed versions of our mobile and desktop products, and commenced the transformation of our technology infrastructure through the adoption of the Agile development methodology. Having streamlined the shape and size of our business we now have the foundations to return our business to sustainable growth”, said Norbert Teufelberger, Chief Executive Officer of bwin.party.

While New Jersey has yet to reach its full potential because of geolocation and payment processing issues that are continuing to impact all operators, the Group has made a solid start in this newly regulated market. Despite the headwinds of lost revenue from Greece and continued pressures in European poker, based on the Group’s performance to-date and the planned developments outlined below, the Group is confident that he can deliver year-on-year revenue and Clean EBITDA growth in 2014.