The online gambling company bwin.party, which is behind several popular and famous online gambling brands such as the Party Casino and poker suites, has recently said that the outlook for 2014 is largely positive thanks to the fact that they see growth prospects in the United States as well as the increased levels of betting which are sure to surround the football World Cup. It is thought that more people will be interested in sports betting with the big event looming, as they will place bets on the outcome of the tournament as a whole as well as each individual match which takes place within it, particularly so long as the teams for the countries in which the brand has a strong presence remain in the tournament.
The company said that the final part of 2013 has gone exactly as expected for them, and they are now going to focus on fewer and better regulated markets as they begin to expand in the United States. With gambling rules being relaxed in states such as New Jersey, they are now looking to push into those markets in order to try and make sure that they can be one of the first to claim a larger number of customers from the newly opening markets. When they reopened markets in New Jersey last month, they had marketing launch costs of between seven and €10 million to set up a new online poker and casino games there, which is exactly as expected from them. It does mean that they have paid out a large amount of cash, but they expect to see revenue returns from Matt to more than outweigh their expenses. One of the issues which is currently facing them is the fact that many operators in Greece has been blocked, which will hit their revenue and profit this year.
They have also seen some decline because of their new strategy to only focus on fewer markets in order to hit them in a more effective way, which may be effective over time – we will simply have to wait in order to find out. Another recent announcement that the company has made is that Simon Duffy, their current non-executive chairman, will be standing down at the next annual meeting in May, though whether this will affect their profits negatively or positively still remains to be seen. They also announced that they have secured a £50 million credit facility from the Royal Bank of Scotland, in order to help them with their future development and to ensure that they managed to cover the expenses of setting up their new online ventures. It seems that they are very much determined to go ahead with a new plan, which will see them trying to become dominant forces in the markets which they are currently part of rather than trying to get a presence in every single market out there as some online brands have chosen to use as their online strategy.
Published by John Sullivan of Online Casino Club.