BwinParty Sees Growth From World Cup

Bwin Party one of the largest online gambling companies in the world has said this years World Cup would help it return to growth after all the problems it had in Greece and its move away from riskier markets. They have been concentrating on more defined markets and is expanding into the US as they relax some of their gambling rules.

One of their biggest Rivals Betfair has also decided to pursue a similar strategy. Online gambling companies are thinking that this years World Cup will increase revenues that are reflective of the growing Soccer betting market.

Bwin Party earnings before interest, tax, depreciation and amortization fell to 108 million Euros down from 165 million Euros in 2012. This was caused by falling revenues and increased gambling taxes in Germany as well as the start up costs of their New Jersey venture.

The management of BwinParty face a ton of pressure to deliver on their promises after investment vehicle Spring Owl run by a New York hedge fund agreed last month to buy a 6.1 % stake from the two founding owners.

March 13, 2014: posted in Gambling News No Comments

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