Sorin888 
Joined: Apr '11
Location: Romania
Age: 58 (M)
Posts: 2432
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Bwin.party released a pre-close trading update stating that they remained on track to save 70m euros in costs across 2013.
Revenue, however, continues to drop, a descent driven by a number of factors, including “tactical shift from ‘volume to value’” and ”the introduction of the turnover tax on sports betting in Germany in July 2012.”
The RMG giant has suffered from increasing competition in the bingo markets of the UK and Italy, as well as a lower than anticipated win margin in sports betting during April and June.
CEO Norbert Teufelberger made reference to a “challenging competitive and market backdrop” as he discussed Bwin.party’s continuing efforts over “returning our business to growth”
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