Casino Party games
Bwin.Party Digital Entertainment, one of the big online gambling operators in Europe, said it is close to selling its money-losing social gaming business, Bloomberg reported.
That says a lot about the cyclical nature of the social-casino games boom. The rise of social gaming was strong in 2011, leading to the creation of more than 100 startups focused on these games. Companies viewed this as a way to draw customers into the more lucrative online gambling sites or actual casinos.
Now we’re seeing something of a shakeout.
“We are in active discussions regarding the sale of Win, the group’s social gaming business and expect to make a further announcement shortly, ” the Gibraltar-based company said today in a statement to Bloomberg. “The group is continuing its discussions with several parties regarding a variety of potential business combinations with a view to creating additional value for Bwin.Party.”
Online gambling on websites and mobile devices is legal in a few U.S. states, but the revenues haven’t been huge, with no indication that the rest of the states will legalize digital online gambling soon. That has taken some of the air out of the plans for gambling companies to assemble physical locations, online gambling, and social casino game properties into a single business.
Bwin.Party has a big business in sports betting, and it also owns an online payment service. It expanded into social gaming in May 2012 with the announcement of a $50 million investment. The company is also losing money on its online gambling business in New Jersey.
We are bwin.party digital entertainment plc, the world’s largest listed online gaming business created by the merger of bwin and PartyGaming in March 2011. We have market leading positions in each of our four product verticals: sport... read more »
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