1 Jun 2012 11:08
1 June 2012
bwin.party digital entertainment plc('bwin.party', the 'Group')
Spanish operating licences awarded
bwin.party, the world's leading listed online gaming company, is pleased to announce that its applications for licences to operate online sports betting, poker, bingo, blackjack and roulette in Spain have been successful. The licences to offer all five products have been granted today ahead of the formal opening of the Spanish market on 5 June.
The products will be offered through three online sites as follows:
Sports Betting | Poker | Bingo | Roulette | Blackjack | |
bwin.es | x | x | x | x | x |
PartyPoker.es | x | x | x | x | |
binguez.es | x | x | x |
Commenting on today's announcement, Jim Ryan and Norbert Teufelberger, Co-CEOs of bwin.party, said:
"Our aim is to secure market-leading positions in all five products through leveraging the inherent strength of our two prime brands, PartyPoker and bwin, which has attained high consumer awareness through its sponsorship of Real Madrid, and also through a new, localised brand called Binguez. Our launch in Spain will also be a key merger integration milestone for bwin.party as all of the three sites' products will be hosted on a new, technologically advanced and fully integrated gaming platform that will enhance the consumer's gaming experience."
Approximately 4% of the Group's revenues in 2011 were generated in Spain. Revenues generated under the licences will be taxed at the rate of 25% of gross gaming revenue. In accordance with the regulations, the Group has been paying taxes on all revenue generated by Spanish customers since 29 May 2011.
Contacts:
Investors
Peter Reynolds +44 (0) 20 7337 0177
Media
John Shepherd +44 (0) 20 7337 0141
About bwin.party
bwin.party digital entertainment plc (LSE: BPTY) is the world's largest listed online gaming company. The Company was formed from the merger of bwin Interactive Entertainment AG and PartyGaming Plc on 31 March 2011. Incorporated, licensed and regulated in Gibraltar, the Group also has licences in France, Italy, Denmark, Spain and Schleswig-Holstein in Germany. With offices in Europe, India, Israel and the US, the Group generated total pro forma revenue of €816.0m and pro forma Clean EBITDA of €199.3m in 2011. bwin.party commands leading market positions in each of its four key product verticals: online sports betting, poker, casino and bingo with some of the world's biggest online gaming brands including bwin, PartyPoker, PartyCasino and Foxy Bingo. The Group's scale, technology and strong portfolio of games collectively differentiate its customer offer from those of its competitors. bwin.party is a constituent member of the FTSE 250 Index and the FTSE4Good Index Series, which identifies companies that meet globally recognised corporate responsibility standards. For more information about bwin.party, visit www.bwinparty.com.