Most online gambling companies are doing the best they can to improve their operations from top to bottom. However, there are times that they are having difficulties coming up with major decisions that could possibly affect customers and players.
This is exactly what is going on in the headlines recently with Bwin.Party. There have been rumors circulating that the company is facing some financial instability with their shares significantly dropping since last year. Nevertheless, the company has covered it up with the statement saying that the World Cup has saved their sports betting operations and sales. On the other hand, its poker and casino departments remain the same.
Bwin.Party is now being criticized by its shareholders and board members, saying that the company has been mismanaged since its merger deal in 2010 with Bwin Interactive Entertainment and PartyGaming plc. It so happens that Spring Owl Firm, owned by Jason Ader who is an ex-analyst for Wall Street Journal, an investor and activist, has a five percent share in the company and sits as one of the board members, and now leads the critical attack against them.
The casino online and sports betting company is now under pressure as Ader demands them to improve its performance. Ader pointed out that a $13.6 million dollars or 10 million Euro of cuts could effectively help the company keep up with their projected target this 2014. It could be remembered that reports came out saying Bwin’s shares had dropped by 30 percent with speculations that company is on the verge of breaking down.
But according to Norbert Teufelberger, bwin.party’s chief executive, the company is continuously doing its best to boost its performance with cost cuts. He reiterated that the company remains very confident that it will be able to meet its projected target for the year. They are taking steps to reduce all complications, expenses and simplify decision-making. The company is also set to continue its goal to get into the regulated casino online industry in the US with major sponsorship deals in place. Also included in the deal are the ads for Philadelphia 76ers and New Jersey Devils plus the establishment of the online poker tournament series, the Dream Seat Series.