The leading online gambling group in the industry, Bwin.party, declared a sharp increase in its revenue in the last quarter. The launch of new games in the Italian gambling market is a key reason for the increase in sales of the company. It has been reported that the net revenue of the Gibraltar based firm rose by 3% in the last quarter.

Launch of New Games Leads to Bwin.party's Revenue Increase

Formed by the merging of two companies, PartyGaming and Bwin last year, Bwin.party experienced a boost in its shares due to the Italian government opening the market for online casino games. Games like online roulette and blackjack were launched in Italy this year. Bwin.party presently offers close to 30,000 bets on a daily basis.

Ban on Top Gambling Sites Boosts Bwin.party's Sales

Bwin.party has been able to live up to the expectations of its management in terms of trading. The company stated that the suspension of top US websites like Full Tilt Poker, played a significant role in the rise of its revenue. Full Tilt, along with a few other gambling sites, was pushed out of the US market earlier this year.

Greek Market Hit Badly Due to Recession

Bwin.party's chief financial officer, Martin Weigold, stated that he expects the company to recover from recession effects soon. Certain markets have been hit badly due to the financial crisis. Greece is one of the worst-hit. Although a slight increase in growth has been seen in the last quarter, the scenario for the entire year has not been encouraging for Greece.

Growth Scenario of Some Gambling Websites during Recession

Rival 888, which experienced a huge growth in its Q3 sales, expects the results to be even more encouraging by the year's end. The company saw a 42% rise in its revenue in the third quarter and expects the sales to increase further. UK customers may start using entertainment options like online gambling when they have to sit at home owing to the economic slowdown.

Bwin.party's shares fell after the merger. Share value increased by 1 percent, as per the results of the last quarter. James Hollins, an analyst of Evolution Securities stated that progress has been good for the company.

Players' Numbers Decline at Bwin.party

Although the average daily revenue of Bwin.party rose in the last quarter, there has been a fall in the average number of its daily gamblers. There is a 4% drop in the average number of players gambling with Bwin.party daily this quarter, compared to last year. A key reason for this is that, players' numbers increased significantly last year due to the soccer World Cup.

German Legislation – a Key Factor in Bwin.party's Growth

The largest market of Bwin.party digital is Germany, said an analyst. The highest civil court of Germany passed a bill last year which restricted the operation of online gambling sites by private sector companies. In this regard, Bwin.party stated that its operations with German states were based on a regulatory framework. The company also hopes to obtain a license in Schleswig-Holstein, where laws favoring online gambling were passed recently.