Bwin.party Sees Future in U.S.

09/08/2011
By Pamela PattersonGoogle

 

Jim Ryan, the CEO of bwin.party, is optimistic about the future of online gambling in the U.S.  Despite the recent shutdowns of online poker sites by the United States Department of Justice, Ryan believes that the legalization and regulation of online gambling in the U.S. is just around the corner.  While revealing bwin.party’s strategic outlook, Ryan said that the company is already in the process of developing U.S. partnerships.

 

To be specific, bwin.party is already in the process of final status agreements with various bodies in New Jersey and California.  The company is heavily involved with legislators and lobbying groups both on the federal and state levels.  Thus far, the identities of the parties involved with bwin’s attempts at U.S. domination remain anonymous. 

 

Bwin.party’s brands, Poker Room, WPT, and PartyPoker, stand to achieve significant gains in light of the fact that their biggest U.S. competitors were shut down by the USDOJ in the spring.  Ryan is more than glad to enter into the void that these companies left behind and take advantage of the situation to whatever extent possible.  That said, Ryan clarified that neither he nor his company have any intention of purchasing the struggling Full Tilt Poker.

 

Due to increasing taxation coupled with the regulatory costs incurred alongside the company’s recent expansion efforts, the company registered approximately 22 million Euros less in earnings (BITDA) compared to last year.

 

Online Casino was bwin.party’s only product that actually grew in earnings over the past year.  Even their popular sports betting devalued over the year by about two percent.  However, Ryan remains optimistic that despite these specific points of loss, the outlook for bwin.party in the coming years is great.

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