Bwin.party backing product launches to boost growth
Improvements to all verticals scheduled over the course of 2014 with sportsbook leading the way as the firm looks to build on sequential growth
Bwin.party CEO Norbert Teufelberger said new several new sportsbook product launches and improvements to its mobile casino would help reposition the business for the long term following its second quarter of sequential growth.
The operator revealed today that while all verticals had grown sequentially, although revenues were down 8% year-on-year as its shift from “volume to value” continued to impact the business.
Product enhancements and launches have been planned across all four of the operator’s verticals and Teufelberger said the developments were in a “good place”.
Sports betting, the operator’s largest vertical in terms of revenue, is set to receive a significant product revamp in advance of the World Cup kicking off in mid-June, Teufelberger revealed during a call with analysts this morning.
“With the World Cup just two months away we are focusing on delivering several new sports betting products and special promotions to help drive additional revenues during what is normally a seasonally quiet time for football betting in our main European markets,” Teufelberger said.
The launch of native mobile sportsbook apps in both Belgium and Spain have contributed to the “good progress” in expanding its mobile business, as has the company’s recent casino content deal with William Interactive.
Prior to the deal, Teufelberger revealed that just six casino games were present on its mobile casino app, but this is now set to rise to 40 and said planned new casino launches would “vastly matter” to the business moving forward.
Italy, one of the operator’s regulated markets, was down year-on-year in revenue terms and bwin.party said a move away from its dual platforms in the country following the integration of its operations there should provide a material benefit.
“That will boost the margin very nicely once we do it towards the end of the year,” Teufelberger said.
Enhancements to the firm’s poker offering in the New Jersey, France and dot.com markets as well as new mobile poker products in Belgium, Denmark and Spain are also due to be rolled out by the end of the year.