Online gambling giant Bwin.Party, owner of the Party Poker and Bwin betting sites, today warned that trading had been hit by a run of sports results that were good for punters, bad for shareholders.
Shares in the group fell more than 5% as it added that tough competition in the online bingo markets was also having an impact on trading. Bwin is retreating from smaller markets in Europe as it hunts for higher-margin business.
However, the big prize is the US, where the Obama administration is reining back on the draconian clampdown under George Bush seven years ago. Seven years on, Nevada has reopened for business and New Jersey is to allow poker and casino betting online from November. Bwin.Party said its New Jersey licence applications were at an advanced stage.
