Bwin.party targets cost savings, eyes U.S. market
LONDON May 21 (Reuters) - Online gambling company bwin.party said it aimed to deliver savings of 70 million euros ($90 million) this year as it shifts to operating in fewer but better regulated markets.
First quarter revenues fell 17 percent to 180.2 million euros, the company said, reflecting what it called a shift in strategy to seeking greater value from customers, rather than chasing volume.
Bwin.party and other gambling groups are also looking to expand in the United States where Nevada and New Jersey have led the way in lifting some of the curbs on operators.
"Given the planned launch of a number of new products, the progress already made on reducing costs and the opening of the US online gaming market, the board remains confident about the group's prospects," the company said in a statement.
Bwin.party offers online sports betting, and games such as poker, casino and bingo.