Bwin.Party, the online gaming company that runs numerous top brands in the world of online gambling such as Party Poker and Party Casino has issues a trading update that stated that its revenue since April was not up to par with their expectations. The gambling company has blamed the poor performance on sports betting during the months of June and April and the rough competition that they have suffered in the online bingo section, especially in the markets of Italy and the United Kingdom. On the other hand, the firm has added that the cost reduction initiatives succeeded to be on track with the goal they had in mind, which was equal 71 million Euros (91 million dollars) of savings.

The CEO of the company, Norbert Teufelberger stated that the trading reports show that the shift from sheer volume to high value and the introduction of the turnover tax in the German market in 2012 as well as the issues that the company encountered during the migration of the customers  of bwin.com were all against the market backdrop. He also added that the process that the company is currently going through in order to optimize the size as well as the shape of the business as they focus more on the soon to be regulated and regulated markets is on track and that he has faith that the business will return to growth soon. Bwin.Party is also expecting to launch a new social gaming product as well as a real money product in the 2^nd half of this year.