Bwin.Party is one of the largest online poker providers in the world. A recent report from the company states that revenues declined nearly last year. Bwin.Party said that problems in the European market are threatening growth. It intends to offset these losses by pursuing opportunities in the newly regulated U.S. gaming market.
Bwin.Party has faced a number of challenges in Europe. The Greek government has blocked hundreds of online gambling sites. Bwin.Party stated that the new ISP censorship policies violate EU treaties, but the European Commission hasn’t intervened. These blocks significantly reduced Bwin.Party’s revenues in 2013. Revenues were also adversely affected by slowdowns in the French and Italian online gaming markets.
Bwin.Party is optimistic that revenues from the U.S. gaming market will offset these losses. The company is currently dominating the market in New Jersey and intends to operate in Pennsylvania if online gambling is legalized. Bwin.Party stated that it will be seeking online gaming licenses in other states over the next year.
CEO Norbert Teufelberger said that pursuing a license in Pennsylvania will probably be one of its top priorities. Teufelberger said that Bwin.Party is currently discussing a partnership with one of the state’s leading casinos. The casino has indicated that it is interested in working with Bwin.Party, but may may only offer online gambling if Pennsylvania decides to form a compact with another state. Teufelberger may need to consider other gaming partnerships if that proposal falls through.
While Bwin.Party faces many opportunities in the U.S. gaming market, it doesn’t want to rely on it too heavily. The company has recently created a new poker platform, which it has introduced in a couple of countries. Customers were very satisfied with the new product. Bwin.Party said that it intends to launch it in the larger European markets in the near future, which should significantly increase revenues.