Bwin.Party has taken a loss of revenue for the first half of this year. This information came to light to us earlier on in the week when Bwin.Party revealed their 2014 First Half Financial Results, the results noted that there was a loss in revenue and a net loss as well. This came as a shock as their fourth quarter financials in 2013 showed an increase in popularity for the website, analysts predicted that they’d earn more in revenue in the upcoming year.
Still Bwin.Party was able to earn 317.2 Million Euro’s in revenue within a six month period of time. This time last year though they earned 342.5 Million Euro’s, a loss a revenue in the millions. Regardless Casino.bwin.com is still a force to be reckoned with and earns more revenue than the majority of online casinos.
The media instantly asked how Norbert Tuefelberger, the CEO of Bwin.Party felt about his company’s performance this year. Mr. Tuefelberger said, “We are on-track with our current cost saving measures, however it is clear that a more fundamental approach is needed to turnaround our commercial and operational performance. This requires a major change: we are simplifying our structure to accelerate the execution of our plans to drive revenue growth, increase our focus on customers in nationally regulated and/or taxed markets, and further reduce infrastructure costs.
This new approach will also allow us to consider alternative financing and corporate structures in order to create additional value.”