Gambling Company Banking on World Cup Soccer to Boost Profits

Gambling Company Banking on World Cup Soccer to Boost Profits

LONDON (Reuters) – Online gambling company Bwin.Party said on Wednesday the outlook for next year was positive thanks to betting on the soccer World Cup and growth prospects in the United States.

Trading in 11 weeks since the end of September 2013 has been in line with its expectations, the company said.

Bwin is focusing on fewer, better-regulated markets and is expanding in the United States, as gambling rules are relaxed in places like New Jersey.

It said it had marketing and launch costs of between 7 and 10 million euros after setting up online poker and casino games when New Jersey reopened its markets last month, one of a number of states to relax a federal ban imposed in 2006.

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