Bwin.Party quarterly revenues have fallen to their lowest in three years.
Chief executive Norbert Teufelberger said revenues were unlikely to start improving until the second half of the year, but was confident the group would hit targets outlined in March.
“We guided the market that we expected revenues will decline this year by up to 10 per cent versus 2012,” he said. “Despite the first quarter revenue performance, we remain comfortable with our guidance,” he added.
Bwin.Party is one of the companies hoping to gain a foothold in the regulated US market. A federal bill to legalize online poker is likely to be introduced in the coming weeks. To date, only three states have legalized the activity, providing real money gambling to those living within their respective borders. There are 47 other states, one of which (Utah) has already passed a measure opting out of any federal law.
- Aaron Goldstein, Gambling911.com