The Greek dispute would be offset by full-year 2013 cost savings
Greek woes hit bwin.party profits
(Greece).- Revealing a 21 per cent drop in revenues in the third quarter, bwin.party said a block on access to its products in Greece was a factor and would continue to affect revenue and profit this year.
2013-11-14
Reading time 30 seg
(Greece).- Revealing a 21 per cent drop in revenues in the third quarter, bwin.party said a block on access to its products in Greece was a factor and would continue to affect revenue and profit this year.
As revenues fell to 145.7 million euros, bwin.party blamed action by the Greek authorities to block access to over 400 gaming sites including its own, adding that the move would have a modest net impact on revenue and EBITDA this year.
Norbert Teufelberger, bwin.party CEO, said: "As we expected, our underlying third-quarter performance appears to have represented the floor in what has been a transitional year for the group.” He added that the effects of the Greek dispute would be offset by full-year 2013 cost savings of more than 70 million euros.
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