Bwin.party saw total revenues fall to €317.1 million, down from €342.5 million last year for the first six months of 2014.
The company called its performance “mixed” as sports betting revenues increased by 7 percent to 127.4 million pounds, but seeing declines in most other areas.
Online poker was down 31 percent to 44.1 million pounds and its online casino and games division decline by 8 percent to €103.3 million.
The company pointed to its withdrawal from markets such as Greece as part of the reason for the declines. The company also lost 7.3 million pounds through its New Jersey online operations.
“Trading during the first half of 2014 was mixed with a solid performance from sports betting more than offset by year-on-year declines in casino and poker, particularly in countries that were no longer a core area of focus,” said Norbert Teufelberger, Chief executive of bwin.party. “We are on-track with our current cost saving measures, however it is clear that a more fundamental approach is needed to turnaround our commercial and operational performance.
“This requires a major change: we are simplifying our structure to accelerate the execution of our plans to drive revenue growth, increase our focus on customers in nationally regulated and/or taxed markets, and further reduce infrastructure costs,” he said. “This new approach will also allow us to consider alternative financing and corporate structures in order to create additional value. We are confident that the steps we are taking will underpin our financial performance and remain confident about the full year outlook.”
