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Online gambling company Bwin plans further cost cuts

15
Jul
2014

Online gambling company Bwin.Party, under pressure from an activist shareholder to boost its performance, said an additional 10 million euros ($13.6 million) of cost cuts would help it to meet its targets for the year. Bwin said last month it was looking at ways of boosting shareholder value but denied a report it was considering a break-up or sale of its business. In a trading statement on Tuesday, bwin said sports betting had benefited from the soccer World Cup but described the performance of its poker and casino business as “soft”. “We are taking steps to improve operating performance, simplify decision-making, reduce complexity and costs and, as a result, remain confident about the full-year outlook,” said Chief Executive Norbert Teufelberger.

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