UK-listed online gambling operator Bwin.party digital entertainment says revenue fell 6% in Q1 as poker revenue tumbled nearly one-third.
Revenue in the three months ending March 31 was €155.3m, but Bwin.party CEO Norbert Teufelberger (pictured) chose to look on the bright side, saying this was an improvement of 6% from Q4 2014 and thus proof that their efforts to right the sinking ship are paying off. In particular, Bwin.party pointed to its oft-derided mobile channel, which saw its share of overall revenue rise to 30% from just 17% in the same period last year.
Sports betting handle rose 9% but those infamous punter-friendly results ate into margins, leaving sports revenue down 10% to €58m. Mobile wagering accounted for 41% of sports revenue, up from 28% last year. However, daily average player ranks fell 14% and real-money signups fell 10%.
Casino and other games handle rose 1% but lower VIP activity and new value added taxes pushed revenue down 11% to €46.8m. Mobile’s share of the casino pie improved 12 points to 21% but daily average players were flat and real-money signups fell 29%.