SBC News Voice of the Sports Betting Industry
London based city rumors that igaming operator bwin.party are planning to ‘spin-off’ its unregulated operations into a separate company have helped the FTSE 250-listed igaming operator climb to a two-month high. Share price in the Gibraltar based igaming operator jumped 11% as rumours hit London tradings floors.
The separation of the operators unregulated operations from its licensed markets, would make bwin.party more attractive to a broader potential investor base. A ‘Spin-Off’ in its operational set up would also make it easier for bwin.party to partner with offline gaming ventures that operate in unlicensed markets such as the USA. bwin.party has formed joint ventures with casino giants MGM Resorts International and Boyd Gaming in preparation for New Jersey allowing internet gaming this year.
bwin.party sports betting brand BWin sports has change operational and marketing focus, this was outlined by CEO Norbert Teufelberger in the operators annual board and general strategy meeting. bwin.party brands will now pay more attention to maintaining cost control on marketing spend and customer acquisition. The Bwin sports betting brand has switched strategy to focus on 10 countries and stopped taking sign-ups from most of its unregulated markets, which cut sales an estimated 10 per cent.
The operators 2nd quarter revenues have been softer than expected, with revenues lowering on its casino and bingo verticals.According to the Merger Market newsource a potential ‘Spin-off’ of its unregulated markets would make the operator attractive to for casino operators keen to take advantage of US legislation.
