3.4% drop
Bwin.party shares down
(UK).- Shares in the online casino and bookmaker bwin.party fell by 3.4 per cent following comments from broker Morgan Stanley that “The company does not have a steady base of high-quality income from any product or region.”
2014-01-09
Reading time 20 seg
(UK).- Shares in the online casino and bookmaker bwin.party fell by 3.4 per cent following comments from broker Morgan Stanley that “The company does not have a steady base of high-quality income from any product or region.”
Morgan Stanley downgraded the gaming company to “underweight” amid suggestions bwin.party’s poker relaunch had failed.
“We see a risk that lower marketing spend drives lower active customers, generating less revenue, with fewer funds available to invest in product development and marketing, and that this, in turn, leads to lower customer numbers.”
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