Bwin.party announced the appointment of Philip Yea, former CEO of private equity and debt management financiers – 3i Group plc. Yea is set to replace Simon Duffy, who the operator had announced had stepped down from the position in a December trading update. Yes appointment as Chairman of the operator has been met with positive reaction. The Ft.com labelled the …
Read More »
Williams Interactive LLC, a wholly owned subsidiary of Scientific Games Corporation, is to provide its vast library of authentic Las Vegas-style slot games to many of the gaming sites run by Bwin.party digital entertainment. Williams Interactive will integrate its Remote Game Server into the Bwin.party platform, providing players on sites run on the Bwin.party gaming platform with access to slot …
Read More »
Industry analysts have warned that Bwin.party will really need to show some signs of momentum this year if it is to withstand any pressure to break the company up into its constituent parts. The arrival of activist investor Spring Owl into Bwin’s shareholders last month saw speculation arise that the group would be better served by being split up and …
Read More »
Bwin.party Chief Executive Officer Norbert Teufelberger believes that the group has reached a ‘turning point’ after suffering a ‘challenging year’. Total revenue for 2013 dropped by 19% from €801.6m (£671.5m) to €652.4m (£546.5m) which the company said reflected its shift in policy from ‘volume to value’, ISP blocking in Greece, migration losses and the full year impact of gaming taxes …
Read More »
Bwin.Party has received a consensus rating of “Hold” from the fourteen ratings firms that are currently covering the stock, although there is some variation in how the analysts are viewing the company’s prospects. According to American Banking and Market News, three investment analysts have rated the stock with a sell rating, two have given a hold rating and nine have …
Read More »
Activist investors SpringOwl Gibraltar Partners B have agreed in principle to acquire 6.1 per cent of Bwin.party’s share capital, fuelling rumours that the company is on the verge of being broken up to realise value for shareholders. SpringOwl is buying the shares from Emerald Bay Limited and Stinson Ridge Limited, companies connected with Bwin.party founders Ruth Parasol DeLeon and Russell …
Read More »
The bwin.party board have warned that 2013 year revenue would fall by up to 17 percent as senior management look to shrink its operations and concentrate on fewer markets and optimize it’s revenue streams. The igaming operator will now look to focus its operations in regulated markets and potential US regional markets, as the country looks to open legislation on …
Read More »
SBC News Voice of the Sports Betting Industry