Bwin.party CEO: Pennsylvania regulating this year is a âcoin tossâ
Norbert Teufelberger says itâs a case of âwait and seeâ whether progress will be made in the Keystone State
The chance of Pennsylvania passing online gaming this year is a âcoin tossâ, according to bwin.party chief executive Norbert Teufelberger. [private]
Speaking to eGR North America after his firm reported a 2% increase in H1 profits this morning, Teufelberger said it was a case of âwait and seeâ whether progress could be made in the Keystone state.
Back in March, bwin.party confirmed it has an as yet unnamed land-based partner already confirmed for if and when the state passes egaming legislation.
Teufelberger confirmed that bwin.party had scaled back spend in New Jersey because it âis a smaller market than we expectedâ but was happy with his firmâs market-leading position alongside land-based partner Borgata.
âOur partner Borgata is still the market leader, and we believe Borgata is the only profitable online operator in the market at this point,â he told eGR NA.
âIn terms of market share we are still fine, both in terms of B2B and B2C. But in the US is all depends on what is going to happen in new territories and whether new states regulate or not,â he added.
Bwin.party reported a 6.5% decrease in total revenues to US$332.9m in the six month period ended 30 June, with clean EBITDA up 2% to $53.1m.