Online gambling operator Bwin.party digital entertainment saw revenue fall 10% in Q3 2015, with bingo the lone vertical to post year-on-year improvement.
The UK-listed firm said overall revenue dipped to €133.4m in the three months ending Sept. 30 while clean earnings hit €32.5m. Through the first nine months of 2015, revenue is off 8% while earnings are up 5% and the company says earnings would have risen 26% were it not for the UK’s new online point of consumption tax and new value added taxes in continental Europe, where Bwin.party earns most of its bones.
Bingo revenue rose 5% to €12.7m in Q3, largely due to a major marketing push behind the Foxy Bingo and Cheeky Bingo brands. The rest of the verticals enjoyed no such promotional backing and suffered accordingly.
The beleaguered PartyPoker product reported the greatest decline, falling 24% year-on-year to €13.3m. The company is getting better at squeezing blood from a stone, as yield per unique active player was up 11% despite unique active player ranks falling nearly one-third to 163k and daily average players down 27% to 20,700.