Bwin.Party announced its annual results for 2014 showing a decline of 29% in its online poker business which was instrumental in the online gambling company showing a loss for the year.
The struggling online firm which is in talks with at least one investor over a takeover showed a pre-tax loss of €97.7 million compared to a profit of €44.9 million in 2013. Revenues sank to €611.9 million for 2014 compared to €652.4 million the year earlier.
So far this year the company said its betting volumes are ahead of last year, but adverse results were not increasing profit margins making a 12% drop on profits already for the year.
Stay with Casino Life & Business Magazine for the latest news from the gambling industry.
Source: gaming-awards.com
