{"id":19542,"date":"2014-03-17T17:30:54","date_gmt":"2014-03-17T17:30:54","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=19542"},"modified":"2014-04-07T16:18:19","modified_gmt":"2014-04-07T16:18:19","slug":"bwin-looks-to-us-as-online-poker-falters-in-europe","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/bwin-looks-to-us-as-online-poker-falters-in-europe\/","title":{"rendered":"Bwin Looks to US as Online Poker Falters in Europe"},"content":{"rendered":"
\"Bwin<\/a>
Bwin had a rocky year in Europe in 2013, but its US Internet sites are doing well.<\/figcaption><\/figure>\n

Bwin – the world’s largest online publicly traded betting site – says it expects to return to a period of sustainable growth following a difficult year, which saw revenue across all gambling operations tumble 19 percent to \u20ac652.4m ($908,623,000). The company blamed several factors for the slump, such as ISP blocking in Greece, the decline of the poker market in France and Italy, and the migration of players to its new technology platform in December 2012.<\/p>\n

Loss of Greece Hits Hard<\/h2>\n

Poker, in fact, was a significant disappointment. Despite the launch of its new poker site with Atlantic City land-based casino Borgata and their subsequent market-leading operation in New Jersey, revenue from poker fell 35 percent to \u20ac114.6m ($159,605,000), and now accounts for less than 18 percent of the company\u2019s total revenue. Daily average players dropped 39 percent to 47,400 during the year, while new player sign-ups dropped 55 percent to 177,300. The loss of the Greek market in 2012 resulted in 3,326 fewer players per day.<\/p>\n

The company said it was happy with the response to their new poker product, however, adding that it has yet to launch in some of the largest European markets, such as Spain, France, Italy, Belgium and Denmark. It also called its launch in New Jersey \u201ca major milestone,\u201d and, while it\u2019s still early, said it was pleased with the network’s performance in the Garden State so far.<\/p><\/blockquote>\n

Looking ahead, the US market remains a strong priority for Bwin. In the next 12 months, it will look to consolidate its leading position in New Jersey and move into other states that legalize online gambling within their borders \u2013 described as a “significant business opportunity.”<\/p>\n

Pennsylvania \u00a0as Potential Market<\/h2>\n

Bwin CEO Norbert Teufelberger highlighted Pennsylvania<\/a> as a potential key market should Internet gaming legislation pass there, and suggested the company was close to forming an agreement with a land-based operator there; however, he indicated that the company might not forge ahead with this unless Pennsylvania entered into a liquidity sharing agreement with New Jersey.<\/p>\n

Teufelberger admitted that Bwin had fallen behind some of its competitors in the mobile gaming arena, but was confident it could regain lost ground. The company has spent significantly on the integration of its multiple technology platforms, and Teufelberger believes that this will create a \u201cmarked improvement\u201d in productivity. Bwin\u2019s new HTML5 sports betting app is due to be launched later in the year.<\/p>\n

Sportsbetting was described as showing \u201cgood progress\u201d, and Teufelberger suggested that Bwin’s sponsorship of six leading \u00a0European football<\/a> clubs meant that it was closing the \u201cbrand awareness\u201d gap with Paddy Power. This summer\u2019s World Cup in Brazil, he said, should be a strong driver of revenue growth, predicting that it will be the biggest-ever for the bookies, but that Bwin would be careful not to overspend on marketing budget.<\/p>\n

\u201c2013 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,\u201d \u00a0Teufelberger\u00a0said. \u201cHaving streamlined the shape and size of our business we now have the foundations to return our business to sustainable growth.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

Bwin – the world’s largest online publicly traded betting site – says it expects to return to a period of sustainable growth following a difficult year, which saw revenue across all gambling operations tumble 19 percent to \u20ac652.4m ($908,623,000). The company blamed several factors for the slump, such as ISP blocking in Greece, the decline […]<\/p>\n","protected":false},"author":42,"featured_media":19555,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[10,19],"tags":[],"acf":[],"yoast_head":"\nBwin Looks to US as Online Poker Falters in Europe<\/title>\n<meta name=\"description\" content=\"After a somewhat rocky 2013 that included loss of European poker market shares, Bwin is now looking to the US burgeoning online market as part of its future\" \/>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bwin Looks to US as Online Poker Falters in Europe\" \/>\n<meta property=\"og:description\" content=\"After a somewhat rocky 2013 that included loss of European poker market shares, 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