Bwin Party Digital, the Gibraltar-based company behind online poker room PartyPoker, has warned revenues have been hit by a weak gross-win margin in sports betting in the past month.
In a late announcement after the stock market closed on Tuesday nightit said total revenue for the year was expected to be between €608m and €612m, down from City estimates of €618m-€630m.
The company, whose sports betting arm is focused on Europe, said it had suffered from several European league teams enjoying a strong run in December.
The FTSE 250 firm, whose brands also include PartyCasino and Foxy Bingo, is in merger talks with several unnamed groups. It remains on track to cut costs by €30m.