Bwin.Party anticipates Spain and Denmark licences

In Denmark, Bwin.Party expects to be among the first group of operators to become authorised to offer online poker, casino and sports from the beginning of January.

The world’s largest listed online gambling operator has also released a pre-close trading update stating that its performance since the end of September has been ‘solid’ and ‘in-line with management’s expectations’.

Gibraltar-based Bwin.Party was born in late-March following the union of online betting and gaming provider Bwin Interactive Entertainment with PartyGaming and the operator revealed that it expects continuing clean earnings before interest, tax, depreciation and amortisation for the full year to be between 22 percent and 24 percent.

In addition, Bwin.Party declared that its integration ‘remains on-track’ and is expected to deliver around 40 million Euro in annualised synergies next year before producing approximately 65 million Euro in 2013 with the company already repurchasing 14 million shares at an average price of £1.26 each.

It also announced that the sale of its OnGame Network Limited business-to-business subsidiary is at an ‘advanced stage’ but is unlikely to be completed before the end of the year.

However, possibly the most interesting news from Bwin.Party was the revelation that it is anticipating approvals for its Spanish online sports, casino, poker and bingo products to be issued by authorities in the country as part of the ‘first wave of licences’ ahead of the market opening next year.

“The group’s licence applications for Spain were submitted on November 25 and it is expected that approvals for our sports, casino, poker and bingo products will be issued in the first wave of licences to be issued ahead of the market opening in 2012,” read a statement from Bwin.Party.

In Denmark, the firm revealed that it lodged licence applications on October 17 and also expects to be among the first group of operators to become authorised to offer online poker, casino and sports from the beginning of January. “In Germany, the next meeting of the Minister Presidents is due to take place on December 15,” read the statement from Bwin.Party.

Then it added: “Schleswig-Holstein, Germany’s most northern land, has stated its intention to press ahead with its law to regulate and license all forms of online gaming with a 20 percent tax on gross gaming revenue. Schleswig Holstein’s law has already been approved by the European Commission.

“While we hope that the other 15 Lander will revise their proposal, they may choose to press ahead with it in its current form, one that we believe fails to comply with European Union law or meet the requirements set out by the Court of Justice of the European Union. While we welcome the move to regulate the online gaming market in Germany, this must be in a consistent and coherent manner in line with European Union law that also enables licensed operators to compete effectively with black market operators. Any other approach, if sustained, will create a commercially unviable market and result in consumers being driven outside the regulated framework”, read the statement.

“In the United States, there remain a number of initiatives seeking to regulate Internet poker at both a Federal and a state level. Which route will reach the statute book first and when remains unclear but we remain optimistic that regulation will take a step forward in 2012. Either way, through our agreements with MGM and Boyd, the group is well-positioned to take advantage of any such opportunity”, the statement concluded.