Tuesday, July 3, 2012
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PartyCasino.com new players get up to $3000 sign up bonus
Tuesday, May 22, 2012
PartyCasino New Players Get Up To $3000 Sign Up Bonus
PartyCasino.com new players get up to $3000 sign up bonus
Tuesday, April 3, 2012
bwin.party reports annual rise in net revenues; PartyPoker Premier League V Just Days Away
Profiles
Bwin.Party Digital Entertainment PartyCasino.com PartyPoker.com Casinos Gaming
The world’s largest listed online gambling operator, bwin.party Digital Entertainment, has released its financial results for 2011 showing an over 93 percent year-on-year increase in net revenues to €674.5 million.
Total revenues for the twelve-month period grew similarly to €691.1 million when compared with 2010 despite the closure of its French casino and the 2010 FIFA World Cup ‘primarily due’ to its merger.
2011 pro forma earnings before interest, tax, depreciation and amortisation rose by three percent year-on-year to €199.3 million due to synergies ‘coming through more quickly than expected’ and ‘offsetting increased gaming duties from regulated markets’ while actual clean earnings from continuing operations improved by 79 percent when compared to 2010 to €168.3 million.
The firm declared that it had realised synergies of €23.3 million in 2011 including five million Euros related to discontinued operations and was ‘ahead of target’ with plans to deliver €40 million in savings this year and €65 million by 2013.
All of this saw bwin.party report an actual loss after tax from continuing operations of €414.7 million and a total deficit post tariff of €431 million although it described current trading as ‘robust’ with average gross daily revenues up two percent quarter-on-quarter to €2.93 million.
“We made excellent progress in 2011,” read a statement from Jim Ryan and Norbert Teufelberger, Co-Chief Executive Officers for Bwin.Party.
“The swift execution of a number of integration plans for our technology, people, products and brands has been rewarded with financial synergies coming through more quickly than expected, offsetting increased gaming duties payable as markets regulate. We remain on-track to deliver approximately €40 million of synergies this year and €65 million in 2013.
“We expect to gain competitive advantage this year from additional scale and improved flexibility that will flow from the integration and migration of our main products to a single technology platform. 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.
“The proposed regulatory changes in Europe, particularly those in Germany, which were announced shortly after completion of the merger last year and that had a significant adverse impact on our share price one week later, have resulted in an impairment of some of the goodwill acquired as part of the merger. Had the merger completed one week later, no such impairment would have been required. This is a non-cash charge and the business has continued to deliver an impressive operational and financial performance, generating strong cashflow.”
PartyPoker Premier League V Just Days Away...
The full line-up is in and the groups have been set for this year’s edition of the PartyPoker.com Premier League V and with the Montesino in Vienna playing host this Wednesday, it’s going to be a busy week for poker in Austria.
The Premier League V – which will run alongside the World Poker Tour Vienna festivities this week – features a grand total of 14 professional poker players and two amateur qualifiers, all of whom will post the $125,000 to compete for a huge prize pool.
The field has now been split into two groups, with Group A featuring Tony G, Andrew Frankenberger, Erik Seidel, Luke Schwartz, Phil Laak, Eugene Katchalov and the first online qualifier, while Group B consists of Sam Trickett, Dan “Jungleman” Cates, Patrik Antonius, Vanessa Selbst, Yevgeniy Timoshenko, Bertrand Grospellier, Scott Seiver and the second qualifier.
As you can see, there are no soft spots in the competition but only the top three points-earners from each eight-player group will advance automatically, with the remaining two seats in the final being settled by a heads-up play-off by the fourth and fifth place finishers in both groups.
A winner will then be crowned in a straight-up shoot-out at the Premier League’s eight-handed final table, with a huge 1st place payout, the PartyPoker Premier League title and bragging rights across the poker world awaiting the winner as well as a seat in this year’s WPT World Championship.
Table Games Club...
Win incredible prizes just for playing your favourite games!
Starts: 00:00 ET, 9th April, 2012
Ends: 20:00 ET, 20th April, 2012
Calling all lovers of the casino classics. If you’re fanatical about roulette, mad about blackjack or simply can’t get enough of craps, baccarat or video poker, Table Games Club is the place for you.
This club is dedicated to rewarding players like you, running special invite-only promotions to give our most loyal players even more reason to enjoy their favourite game!
Table Games Club’s offers change every month so have a look below for what’s up for grabs right now. Remember, though, these promotions are invite-only:
Roulette Club: 9th-15th April
Win an amazing prize when you play your favourite table game! Collect as many points as you can and a top prize will fly into your account. Regular players can win up to $1,000 cash while VIPs can walk away with as much as $5,000 cash! For full details about the prizes you can win log in to your account and check the Table Games Club promotional page.
Blackjack Club: 16th-20th April
Play your favourite table game as usual and watch double points pile into your account. It’s that simple! You can spend your points on iPad 2s, luxury holidays and more in the Points Store.
IMPORTANT: This promotion is invite-only. To see if you can take part, check your account.
Take Centre Stage for dramatically huge prizes
PartyCasino.com
Starts: 00:00 ET, 31st March 2012
Ends: 20:00 ET, 6th April 2012
Collect your share of $55,000 in prizes if you’re a VIP or $25,000 in prizes if you’re a regular.
Just earn points and rank on the leaderboard by playing our new game: Going Nuts.
Become the star of the show and experience all the thrills of a new game – register now.
Bwin.party earnings up, ready for regulatory changes...
LONDON, March 29 - Bwin.party Digital (BPTY.L), the world's largest listed online gaming company, reported a rise in earnings in its maiden set of results and said it was well-placed to take advantage of regulatory and technological shifts in the gaming industry.
The company, which was formed by the merger of Austria's Bwin and PartyGaming last year, reported a 3 percent rise in clean EBITDA (earnings before interest, tax, depreciation and amortization) to 199.3 million euros ($264.8 million) in 2011.
The Gibraltar-based firm said synergies coming through faster than expected had offset increased gaming duties in regulated markets, pushing earnings up to just shy of consensus analyst estimates of 202 million euros provided by Bwin.party.
"We expect to gain competitive advantage this year from additional scale and improved flexibility that will flow from the integration and migration of our main products to a single technology platform," co-chief executives Jim Ryan and Norbert Teufelberger said in a statement.
Bwin.party said pro forma total revenue inched up to 816 million euros, compared to 814 million euros in 2010, despite the closures of its French casino and the World Cup football tournament in 2010.
The firm said current trading was robust with average gross average daily revenue 2 percent higher than in the fourth quarter of 2011 at 2.93 million euros.
"We have secured strong business partners in the United States ahead of any regulation there and have also applied for a license in Spain which is expected to regulate in the second quarter of this year," Ryan and Teufelberger said.
The company has also applied for a license in the Schleswig-Holstein region of Germany.
The firm said it will add more casino games, improve poker and bingo offerings, and prepare for the UEFA Euro 2012 soccer competition and the London 2012 Olympics.
Bwin.party will pay a final dividend of 1.56 pence per share, making a total of 3.12 pence per share for the year.
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Bwin.Party Digital Entertainment PartyCasino.com PartyPoker.com Casinos Gaming
The world’s largest listed online gambling operator, bwin.party Digital Entertainment, has released its financial results for 2011 showing an over 93 percent year-on-year increase in net revenues to €674.5 million.
Total revenues for the twelve-month period grew similarly to €691.1 million when compared with 2010 despite the closure of its French casino and the 2010 FIFA World Cup ‘primarily due’ to its merger.
2011 pro forma earnings before interest, tax, depreciation and amortisation rose by three percent year-on-year to €199.3 million due to synergies ‘coming through more quickly than expected’ and ‘offsetting increased gaming duties from regulated markets’ while actual clean earnings from continuing operations improved by 79 percent when compared to 2010 to €168.3 million.
The firm declared that it had realised synergies of €23.3 million in 2011 including five million Euros related to discontinued operations and was ‘ahead of target’ with plans to deliver €40 million in savings this year and €65 million by 2013.
All of this saw bwin.party report an actual loss after tax from continuing operations of €414.7 million and a total deficit post tariff of €431 million although it described current trading as ‘robust’ with average gross daily revenues up two percent quarter-on-quarter to €2.93 million.
“We made excellent progress in 2011,” read a statement from Jim Ryan and Norbert Teufelberger, Co-Chief Executive Officers for Bwin.Party.
“The swift execution of a number of integration plans for our technology, people, products and brands has been rewarded with financial synergies coming through more quickly than expected, offsetting increased gaming duties payable as markets regulate. We remain on-track to deliver approximately €40 million of synergies this year and €65 million in 2013.
“We expect to gain competitive advantage this year from additional scale and improved flexibility that will flow from the integration and migration of our main products to a single technology platform. 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.
“The proposed regulatory changes in Europe, particularly those in Germany, which were announced shortly after completion of the merger last year and that had a significant adverse impact on our share price one week later, have resulted in an impairment of some of the goodwill acquired as part of the merger. Had the merger completed one week later, no such impairment would have been required. This is a non-cash charge and the business has continued to deliver an impressive operational and financial performance, generating strong cashflow.”
PartyPoker Premier League V Just Days Away...
The full line-up is in and the groups have been set for this year’s edition of the PartyPoker.com Premier League V and with the Montesino in Vienna playing host this Wednesday, it’s going to be a busy week for poker in Austria.
The Premier League V – which will run alongside the World Poker Tour Vienna festivities this week – features a grand total of 14 professional poker players and two amateur qualifiers, all of whom will post the $125,000 to compete for a huge prize pool.
The field has now been split into two groups, with Group A featuring Tony G, Andrew Frankenberger, Erik Seidel, Luke Schwartz, Phil Laak, Eugene Katchalov and the first online qualifier, while Group B consists of Sam Trickett, Dan “Jungleman” Cates, Patrik Antonius, Vanessa Selbst, Yevgeniy Timoshenko, Bertrand Grospellier, Scott Seiver and the second qualifier.
As you can see, there are no soft spots in the competition but only the top three points-earners from each eight-player group will advance automatically, with the remaining two seats in the final being settled by a heads-up play-off by the fourth and fifth place finishers in both groups.
A winner will then be crowned in a straight-up shoot-out at the Premier League’s eight-handed final table, with a huge 1st place payout, the PartyPoker Premier League title and bragging rights across the poker world awaiting the winner as well as a seat in this year’s WPT World Championship.
Table Games Club...
Win incredible prizes just for playing your favourite games!
Starts: 00:00 ET, 9th April, 2012
Ends: 20:00 ET, 20th April, 2012
Calling all lovers of the casino classics. If you’re fanatical about roulette, mad about blackjack or simply can’t get enough of craps, baccarat or video poker, Table Games Club is the place for you.
This club is dedicated to rewarding players like you, running special invite-only promotions to give our most loyal players even more reason to enjoy their favourite game!
Table Games Club’s offers change every month so have a look below for what’s up for grabs right now. Remember, though, these promotions are invite-only:
Roulette Club: 9th-15th April
Win an amazing prize when you play your favourite table game! Collect as many points as you can and a top prize will fly into your account. Regular players can win up to $1,000 cash while VIPs can walk away with as much as $5,000 cash! For full details about the prizes you can win log in to your account and check the Table Games Club promotional page.
Blackjack Club: 16th-20th April
Play your favourite table game as usual and watch double points pile into your account. It’s that simple! You can spend your points on iPad 2s, luxury holidays and more in the Points Store.
IMPORTANT: This promotion is invite-only. To see if you can take part, check your account.
Take Centre Stage for dramatically huge prizes
PartyCasino.com
Starts: 00:00 ET, 31st March 2012
Ends: 20:00 ET, 6th April 2012
Collect your share of $55,000 in prizes if you’re a VIP or $25,000 in prizes if you’re a regular.
Just earn points and rank on the leaderboard by playing our new game: Going Nuts.
Become the star of the show and experience all the thrills of a new game – register now.
Bwin.party earnings up, ready for regulatory changes...
LONDON, March 29 - Bwin.party Digital (BPTY.L), the world's largest listed online gaming company, reported a rise in earnings in its maiden set of results and said it was well-placed to take advantage of regulatory and technological shifts in the gaming industry.
The company, which was formed by the merger of Austria's Bwin and PartyGaming last year, reported a 3 percent rise in clean EBITDA (earnings before interest, tax, depreciation and amortization) to 199.3 million euros ($264.8 million) in 2011.
The Gibraltar-based firm said synergies coming through faster than expected had offset increased gaming duties in regulated markets, pushing earnings up to just shy of consensus analyst estimates of 202 million euros provided by Bwin.party.
"We expect to gain competitive advantage this year from additional scale and improved flexibility that will flow from the integration and migration of our main products to a single technology platform," co-chief executives Jim Ryan and Norbert Teufelberger said in a statement.
Bwin.party said pro forma total revenue inched up to 816 million euros, compared to 814 million euros in 2010, despite the closures of its French casino and the World Cup football tournament in 2010.
The firm said current trading was robust with average gross average daily revenue 2 percent higher than in the fourth quarter of 2011 at 2.93 million euros.
"We have secured strong business partners in the United States ahead of any regulation there and have also applied for a license in Spain which is expected to regulate in the second quarter of this year," Ryan and Teufelberger said.
The company has also applied for a license in the Schleswig-Holstein region of Germany.
The firm said it will add more casino games, improve poker and bingo offerings, and prepare for the UEFA Euro 2012 soccer competition and the London 2012 Olympics.
Bwin.party will pay a final dividend of 1.56 pence per share, making a total of 3.12 pence per share for the year.
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Sunday, February 26, 2012
Monday, January 30, 2012
Bwin.Party Digital Entertainment CEO Sees Legal Online Gaming In US Soon
Profiles
Bwin.Party Digital Entertainment PartyCasino.com PartyPoker.com Gaming Poker iGaming
Legalized online gambling in the U.S. is now a case of 'when', not 'if', Bwin.Party Digital Entertainment PLC (BPTY.LN) Co-CEO Jim Ryan said Wednesday, adding that he expects the foundations to be laid this year.
But speaking at the ICE online gambling conference in London, the co-chief executive advised that establishing it up will take time.
The process of passing legislation, drawing up regulation, vetting and licensing operators will likely last through 2012, he said, and he speculates that actual operations likely won't happen before next year.
Partygaming, which last year merged with Austrian peer Bwin to form Bwin.Party Digital Entertainment, along with other European operators withdrew from the U.S. market in 2006 shortly after then-President George W. Bush signed a bill designed to prohibit U.S. banks and credit card companies from processing payments to gambling websites.
Partygaming paid a $105 million fine as part of a non-prosecution deal with the DOJ (Department Of Justice) in 2009, for admitting indirect contravention of US law, but in anticipation of a relaxation of the rules, Bwin.Party last year inked a joint venture with U.S. casino operators MGM and Boyd to operate online gaming if and when it became legal in the U.S.
Ryan's confidence comes after a recent ruling by the U.S. Department of Justice, which clarifies the scope of the Wire Act, a law that in the past has been used stop online gambling sites. The ruling essentially gives U.S. states the green light to allow gambling within their borders, according to online gambling experts.
Still, Ryan said this doesn't mean the company is in line to recoup any of the $105 million fine.
Bwin.Party and its joint venture partners have already applied for a preliminary suitability review in Nevada which will lay the groundwork for gaining a license there once regulation is agreed.
Ryan also told the press the sale process for its Ongame poker network is very advanced and he expects to be able to announce further news in the not too distant future.
He confirmed recent reports that the company is looking for an executive to head up its payments processing division CQR with a view to ultimately taking it public, but said this was several years away.
He said the company wants to expand its online payments operations outside of the gambling sector to build an online merchant market place, increasing the value of this asset and ultimately realising shareholder value by listing it on the stock market.
Promotion
Weekend Warrior
Grab a Guaranteed Prize with Weekend Warrior
Week 1: 00:00 ET Sat 4th - 23:59 ET Sun 5th Feb
Week 2: 00:00 ET Sat 11th - 23:59 ET Sun 12th Feb
Week 3: 00:00 ET Sat 18th - 23:59 ET Sun 19th Feb
Week 4: 00:00 ET Sat 25th - 23:59 ET Sun 26th Feb
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Earn points playing on Saturday - but don’t stop there! Make sure you come back and play on Sunday to guarantee yourself the biggest reward. We’ll pump up your prize to colossal proportions when you earn points on both days.
Remember - your prize will explode in size when you earn points on both Saturday and Sunday. So play your heart out on both days for the biggest Weekend Warrior rewards.
PartyCasino.com is the place to be at the weekend!
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Bwin.Party Digital Entertainment PartyCasino.com PartyPoker.com Gaming Poker iGaming
Legalized online gambling in the U.S. is now a case of 'when', not 'if', Bwin.Party Digital Entertainment PLC (BPTY.LN) Co-CEO Jim Ryan said Wednesday, adding that he expects the foundations to be laid this year.
But speaking at the ICE online gambling conference in London, the co-chief executive advised that establishing it up will take time.
The process of passing legislation, drawing up regulation, vetting and licensing operators will likely last through 2012, he said, and he speculates that actual operations likely won't happen before next year.
Partygaming, which last year merged with Austrian peer Bwin to form Bwin.Party Digital Entertainment, along with other European operators withdrew from the U.S. market in 2006 shortly after then-President George W. Bush signed a bill designed to prohibit U.S. banks and credit card companies from processing payments to gambling websites.
Partygaming paid a $105 million fine as part of a non-prosecution deal with the DOJ (Department Of Justice) in 2009, for admitting indirect contravention of US law, but in anticipation of a relaxation of the rules, Bwin.Party last year inked a joint venture with U.S. casino operators MGM and Boyd to operate online gaming if and when it became legal in the U.S.
Ryan's confidence comes after a recent ruling by the U.S. Department of Justice, which clarifies the scope of the Wire Act, a law that in the past has been used stop online gambling sites. The ruling essentially gives U.S. states the green light to allow gambling within their borders, according to online gambling experts.
Still, Ryan said this doesn't mean the company is in line to recoup any of the $105 million fine.
Bwin.Party and its joint venture partners have already applied for a preliminary suitability review in Nevada which will lay the groundwork for gaining a license there once regulation is agreed.
Ryan also told the press the sale process for its Ongame poker network is very advanced and he expects to be able to announce further news in the not too distant future.
He confirmed recent reports that the company is looking for an executive to head up its payments processing division CQR with a view to ultimately taking it public, but said this was several years away.
He said the company wants to expand its online payments operations outside of the gambling sector to build an online merchant market place, increasing the value of this asset and ultimately realising shareholder value by listing it on the stock market.
Promotion
Weekend Warrior
Grab a Guaranteed Prize with Weekend Warrior
Week 1: 00:00 ET Sat 4th - 23:59 ET Sun 5th Feb
Week 2: 00:00 ET Sat 11th - 23:59 ET Sun 12th Feb
Week 3: 00:00 ET Sat 18th - 23:59 ET Sun 19th Feb
Week 4: 00:00 ET Sat 25th - 23:59 ET Sun 26th Feb
Power up your weekend with Weekend Warrior!
Earn points playing on Saturday - but don’t stop there! Make sure you come back and play on Sunday to guarantee yourself the biggest reward. We’ll pump up your prize to colossal proportions when you earn points on both days.
Remember - your prize will explode in size when you earn points on both Saturday and Sunday. So play your heart out on both days for the biggest Weekend Warrior rewards.
PartyCasino.com is the place to be at the weekend!
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Monday, December 19, 2011
bwin.party Awarded Danish Online Gaming Licences
PartyCasino.com website
PartyPoker.com
Profiles
Bwin.Party Digital Entertainment PartyPoker.com PartyCasino.com Bwin.Party Digital Entertainment iGaming
16 December 2011
bwin.party, the world’s leading listed online gaming company, is pleased to announce that it is in the first rank of operators to be awarded online gaming licences by the Danish Gambling Authority.
Having successfully passed all financial, legal and technical tests, the Group has been awarded two separate licences, allowing it to offer online sports betting, poker and casino in Denmark from 1 January 2012. The licenced brands include bwin, PartyPoker, PartyCasino, PartyBets and World Poker Tour.
The successful licence applications and early market entry is in line with Group’s strategy to be a leading operator in all regulated online gaming markets.
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PartyPoker.com
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16 December 2011
bwin.party, the world’s leading listed online gaming company, is pleased to announce that it is in the first rank of operators to be awarded online gaming licences by the Danish Gambling Authority.
Having successfully passed all financial, legal and technical tests, the Group has been awarded two separate licences, allowing it to offer online sports betting, poker and casino in Denmark from 1 January 2012. The licenced brands include bwin, PartyPoker, PartyCasino, PartyBets and World Poker Tour.
The successful licence applications and early market entry is in line with Group’s strategy to be a leading operator in all regulated online gaming markets.
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PartyCasino.com Marvel Slots
PartyPoker.com
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Global Gaming Directory
Thursday, December 15, 2011
Bwin.Party anticipates Spain and Denmark licences - 14th December 2011
PartyCasino.com website
Profiles
Bwin.Party Digital Entertainment PartyPoker.com PartyCasino.com Bwin.Party Digital Entertainment iGaming
The world’s largest listed online gambling operator, Bwin.Party Digital Entertainment, has released a pre-close trading update stating that its performance since the end of September has been ‘solid’ and ‘in-line with management’s expectations’.
Gibraltar-based Bwin.Party was born in late-March following the union of online betting and gaming provider Bwin Interactive Entertainment with PartyGaming and the operator revealed that it expects continuing clean earnings before interest, tax, depreciation and amortisation for the full year to be between 22 percent and 24 percent.
In addition, Bwin.Party declared that its integration ‘remains on-track’ and is expected to deliver around €40 million in annualised synergies next year before producing approximately €65 million in 2013 with the company already repurchasing 14 million shares at an average price of £1.26 each.
Bwin.Party also announced that the sale of its OnGame Network Limited business-to-business subsidiary is at an ‘advanced stage’ but is unlikely to be completed before the end of the year.
However, possibly the most interesting news from Bwin.Party was the revelation that it is anticipating approvals for its Spanish online sports, casino, poker and bingo products to be issued by authorities in the country as part of the ‘first wave of licences’ ahead of the market opening next year.
“The group’s licence applications for Spain were submitted on November 25 and it is expected that approvals for our sports, casino, poker and bingo products will be issued in the first wave of licences to be issued ahead of the market opening in 2012,” read a statement from Bwin.Party.
In Denmark, the firm revealed that it lodged licence applications on October 17 and also expects to be among the first group of operators to become authorised to offer online poker, casino and sports from the beginning of January.
“In Germany, the next meeting of the Minister Presidents is due to take place on December 15,” read the statement from Bwin.Party.
“Schleswig-Holstein, Germany’s most northern land, has stated its intention to press ahead with its law to regulate and license all forms of online gaming with a 20 percent tax on gross gaming revenue. Schleswig Holstein’s law has already been approved by the European Commission.
“While we hope that the other 15 Lander will revise their proposal, they may choose to press ahead with it in its current form, one that we believe fails to comply with European Union law or meet the requirements set out by the Court of Justice of the European Union. While we welcome the move to regulate the online gaming market in Germany, this must be in a consistent and coherent manner in line with European Union law that also enables licensed operators to compete effectively with black market operators. Any other approach, if sustained, will create a commercially unviable market and result in consumers being driven outside the regulated framework.
“In the United States, there remain a number of initiatives seeking to regulate Internet poker at both a Federal and a state level. Which route will reach the statute book first and when remains unclear but we remain optimistic that regulation will take a step forward in 2012. Either way, through our agreements with MGM and Boyd, the group is well-positioned to take advantage of any such opportunity.”
Bwin.Party gets ready for new markets - 14th December 2011...
Bwin.Party Digital Entertainment expects to be in the mix of the first group of firms who are issued with a licence for the Spanish market ahead of it opening next year.
In its pre-close trading update yesterday, the group stated that its licence applications for Spain were submitted on November 25 and it is expected that approvals for its sports, casino, poker and bingo products will be issued ahead of the market opening in 2012.
Bwin.Party also expects to be among the first group of operators to become licensed to offer online poker, casino and sports in Denmark at the beginning of January after its licence applications were lodged on October 17.
In Germany, the next meeting of the Minister Presidents is due to take place tomorrow and Bwin.Party hopes that the other 15 German states will revise their proposal in a consistent and coherent manner in line with European Union law, which also enables licensed operators to compete effectively with black market operators.
The group remains optimistic that US regulation will take a step forward in 2012. Via its agreements with MGM and Boyd, Bwin.Party believes it is well positioned to pounce on any such opportunity that may present.
The sale process of Ongame's B2B business is at an advanced stage, but although it has attracted a number of interested parties, the sale is unlikely to be finalised before the end of the year.
Bwin.Party is likely to retain its world leading position for the foreseeable future.
Websites
PartyCasino.com
PartyCasino.com Marvel Slots
PartyPoker.com
Website Network
Media Man Int
Media Man
Media Man News
Casino News Media
Global Gaming Directory
Profiles
Bwin.Party Digital Entertainment PartyPoker.com PartyCasino.com Bwin.Party Digital Entertainment iGaming
The world’s largest listed online gambling operator, Bwin.Party Digital Entertainment, has released a pre-close trading update stating that its performance since the end of September has been ‘solid’ and ‘in-line with management’s expectations’.
Gibraltar-based Bwin.Party was born in late-March following the union of online betting and gaming provider Bwin Interactive Entertainment with PartyGaming and the operator revealed that it expects continuing clean earnings before interest, tax, depreciation and amortisation for the full year to be between 22 percent and 24 percent.
In addition, Bwin.Party declared that its integration ‘remains on-track’ and is expected to deliver around €40 million in annualised synergies next year before producing approximately €65 million in 2013 with the company already repurchasing 14 million shares at an average price of £1.26 each.
Bwin.Party also announced that the sale of its OnGame Network Limited business-to-business subsidiary is at an ‘advanced stage’ but is unlikely to be completed before the end of the year.
However, possibly the most interesting news from Bwin.Party was the revelation that it is anticipating approvals for its Spanish online sports, casino, poker and bingo products to be issued by authorities in the country as part of the ‘first wave of licences’ ahead of the market opening next year.
“The group’s licence applications for Spain were submitted on November 25 and it is expected that approvals for our sports, casino, poker and bingo products will be issued in the first wave of licences to be issued ahead of the market opening in 2012,” read a statement from Bwin.Party.
In Denmark, the firm revealed that it lodged licence applications on October 17 and also expects to be among the first group of operators to become authorised to offer online poker, casino and sports from the beginning of January.
“In Germany, the next meeting of the Minister Presidents is due to take place on December 15,” read the statement from Bwin.Party.
“Schleswig-Holstein, Germany’s most northern land, has stated its intention to press ahead with its law to regulate and license all forms of online gaming with a 20 percent tax on gross gaming revenue. Schleswig Holstein’s law has already been approved by the European Commission.
“While we hope that the other 15 Lander will revise their proposal, they may choose to press ahead with it in its current form, one that we believe fails to comply with European Union law or meet the requirements set out by the Court of Justice of the European Union. While we welcome the move to regulate the online gaming market in Germany, this must be in a consistent and coherent manner in line with European Union law that also enables licensed operators to compete effectively with black market operators. Any other approach, if sustained, will create a commercially unviable market and result in consumers being driven outside the regulated framework.
“In the United States, there remain a number of initiatives seeking to regulate Internet poker at both a Federal and a state level. Which route will reach the statute book first and when remains unclear but we remain optimistic that regulation will take a step forward in 2012. Either way, through our agreements with MGM and Boyd, the group is well-positioned to take advantage of any such opportunity.”
Bwin.Party gets ready for new markets - 14th December 2011...
Bwin.Party Digital Entertainment expects to be in the mix of the first group of firms who are issued with a licence for the Spanish market ahead of it opening next year.
In its pre-close trading update yesterday, the group stated that its licence applications for Spain were submitted on November 25 and it is expected that approvals for its sports, casino, poker and bingo products will be issued ahead of the market opening in 2012.
Bwin.Party also expects to be among the first group of operators to become licensed to offer online poker, casino and sports in Denmark at the beginning of January after its licence applications were lodged on October 17.
In Germany, the next meeting of the Minister Presidents is due to take place tomorrow and Bwin.Party hopes that the other 15 German states will revise their proposal in a consistent and coherent manner in line with European Union law, which also enables licensed operators to compete effectively with black market operators.
The group remains optimistic that US regulation will take a step forward in 2012. Via its agreements with MGM and Boyd, Bwin.Party believes it is well positioned to pounce on any such opportunity that may present.
The sale process of Ongame's B2B business is at an advanced stage, but although it has attracted a number of interested parties, the sale is unlikely to be finalised before the end of the year.
Bwin.Party is likely to retain its world leading position for the foreseeable future.
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