Bwin.party Shares Continue To Tumble

Share price has declined 26 percent this year

The UK newspaper The Independent highlighted the continuing plight of online gambling group Bwin.Party Digital Entertainment this week, pointing out that the company's share price has declined 26 percent this year amid falling profits.

On Monday the share price fell another 10.2p to 89.65p after a brief rally earlier this year on news that the company was cutting costs.

The latest fall has been attributed to fears that new European Union tax measures may have an adverse impact.

"New VAT rules for digital businesses, which take effect from January 1, mean the tax will be charged based on where the customer is, rather than the company's registration," the newspaper reported.

"Deutsche Bank thinks Bwin.Party will be the worst hit. It is registered in Gibraltar, where there is no VAT, and 26 percent of its first half revenues came from Germany, where the rate is 19 percent."

Online Casino News Courtesy of Infopowa

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The man with the plan here at Casinomeister. Bryan Bailey has been running Casinomeister since its launch in June of 1998. He has watched the industry grow from its primeval stage to what it is now. The Meister has attended nearly 100 conferences in the past 20 years and has either been a speaker or a panel moderator for at least 60 events. He has always been an advocate of fairness and reason and is known to like German beer, a good Scotch, and astrophography.
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