Bwin.Party Sees Its Poker Revenue Drop
Bwin.Party, the joint venture between Bwin and Party Gaming, recently announced their earnings report for the year 2011. Surprisingly, the poker sector of the Bwin.Party enterprise gave out a varied result and showed that while its gross earnings chalked up a 10% drop. Unfortunately for the company, its poker profits feel from 294.1 million Euros that it had earned in 2010 to about 263.8 million Euros. What’s more, its net income also fell by 7%.
On the other hand, the Bwin.Party company noted that its earnings before any tax and deductions were made actually showed a hike of 8% profit going up a total of 1.7 million Euros from its 2010 earnings to 29.4 million Euros. However, it showed that the online poker sector of the company revealed a fall from 27.8% to 25.7% for the total revenue taken in over the course of the year.
Bwin.Party addressed most poker-related concerns in its annual report. According to the company, “The indictment of the founders of PokerStars, Full Tilt Poker and Absolute Poker/Ultimate Bet on 15 April 2011 represented the start of what we believe will prove to be a fundamental shift in the shape and structure of the global online poker market.”
Only PokerStars is currently operating, while all the other online poker rooms have shut down. This has allowed it to grab a major of Full Tilt’s non-US players, strengthening its status as market leader in most sectors.
Bwin believes that regaining its standing in the poker sector will be quite a challenge for the company, but is confident that they still are capable of becoming one of the biggest poker networks in the market. Likewise, Bwin believes that they can still further strengthen their position once they have pooled their poker liquidity across their different enterprises among the dotcom sectors in addition to the Italian and French markets in the latter period of 2012.
“Separately, the past 18 months have seen the emergence of a new gaming phenomenon on the internet: social gaming. Zynga, Playdom, Playfish and other social gaming platforms have all experienced spectacular growth with their virtual currency and virtual goods-driven business models that have attracted millions of customers across the globe,” the company stated.
According to Mark Pincus, the Chief Executive Officer for Zynga, virtual goods and social games makes a good match with online gambling. He believes that gambling with real money and social gaming will join together to become a reality in the very near future. This is a large and lucrative venture possibility for Bwin. Party and several initiatives are in place that are likely to generate significance income for the company shareholders in the future that will work out as along term or even medium term benefit.
At present, Bwin.Party is working on Aces Hangout and is in the stages of establishing this new social group and network of poker players on the Google+ enterprise. The company also handles other gaming sectors like online casinos and bingo sites; Bwin. Party also has a sportsbook.
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