Party plans French marketing spend and launches in Sweden
PartyGaming discussed its plans for marketing investment in France and its merger partner Bwin released its Q3 results today.
PartyGaming expects only to be “marginally” profitable in France in 2011 because of a planned increase in marketing spend there, its executives said today.
Despite strong Q3 figures, PartyGaming’s French poker business is yet to be profitable and cost per acquisition (CPA) is currently more than 200 but decreasing, Martin Weigold, its finance director said.
French pari-mutuel betting operator PMU has recently launched a poker arm and is ramping up its marketing spend, which will also benefit PartyGaming in France due to the existing deal between the two operators, Weigold added.
Although bingo has been down quarter-on-quarter this year, PartyGaming said it remains confident of future growth. It launched bingo in Sweden two weeks ago on the Dragonfish platform and is planning to launch a bingo site in Italy in 2011.
Party’s merger partner Bwin also released its third quarter results today, with gross revenues up 21.9% to 123.1m from 101m in Q3 2009. The Austria-based operator saw growth in all verticals except casino, with poker revenues up 43.5% to 33.2m from 23.1m due to acquisition of Gioco Digitale, the addition of Betfair to the Ongame poker network, a Bwin subsidiary, and its launch into France.