BWIN.PARTY DGTL (BPTY.L) Tuesday, in an interim management statement said clean EBITDA in the first quarter was in line with the company's expectations due to cost savings generated on the back of its 'volume' to 'value' approach despite total revenue down 17 percent to 180.2 million euros compared with 215.9 million euros last year.
The company said revenue performance reflects the introduction of a 5 percent turnover tax on sports betting in Germany, a significant reduction in acquisition marketing in several dotcom countries and lower than expected player activity on poker and casino following the dotcom migration.
Commenting on the development, Norbert Teufelberger, CEO said, "As previously announced, our shift in tactics will see us optimise the shape and size of our business, a process that is expected to reduce total revenue in 2013 by up to 10 percent compared with 2012. However, our programme to reduce costs is on-track and we remain comfortable with our previous guidance on Clean EBITDA margins, having identified total savings of approximately 70 million euros per annum to be delivered in 2013 with more to come in 2014 and 2015."
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.