Bwin.party warns overhaul to cut full-year revenue

By Rhys Jones LONDON (Reuters) - Online gambling company bwin.party warned that full-year revenue would fall by up to 17 percent as it shrinks the business to focus on fewer markets where it can make higher returns. The company, formed by the 2011 merger of PartyGaming and Bwin Interactive Entertainment, is focusing on regulated markets and is also preparing to expand in the United States as markets open up there. The strategy, which sacrifices short-term revenue in an attempt to produce a more stable business model, is similar to one being followed by betting exchange operator Betfair. Bwin. ...



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