bwin.party revenues growth

Prior to its merger with GVC, set for February 1st, the company informed that in the fourth quarter, revenues were up 5 percent year on year.

Austria.- The digital entertainment company bwin.party has revealed that it had achieved a 5 percent growth on its revenues, compared to the corresponding period last year.

“Net revenue in Q4 grew by 5 percent versus the same period in 2014, driven by sports betting and casino that enjoyed strong performances, particularly through mobile channels.  Excluding the impact of EU VAT that was introduced in certain markets on January 1st 2015, the increase in net revenue would have been 8 percent. Additionally, significant progress continued to be made on achieving further cost savings”, the company stated in a pre-close trading update.”

The firm’s report concluded: “Based upon recent trading performance, the forthcoming Euro 2016 [football championship] and the full-year benefit of cost savings already achieved in 2015, the board believes that the group’s prospects are strong, and these will be enhanced yet further by the proposed combination with GVC Holdings.”

Meanwhile, the operator also announced that it expects to complete its proposed merger with GVC on February 1st, subject to the prior approval of the Court of Gibraltar. The takeover of the online operator was informed last September and was voted by bwin.party shareholders on December.