Bwin.party CEO and chairman show support after losses widen
Bwin.party Digital Entertainment
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Purchases were made by both the chief executive officer and chairman of Bwin.party on Friday after the online gaming group posted wider first half losses.
Chief executive Norbert Teufelberger acquired ÂŁ206,203-worth of shares, paying 82.48p for each of the 250,000 shares.
Chairman Philip Yea bought 178,477 shares at the higher price of 84.03p each, spending a total of ÂŁ149,972.
Although the results were unimpressive, the company reported progress with its cost-cutting measures and outlined plans for a "major change" to improve its performance going forward.
The group reported a pre-tax loss of €94m, up from €11.6 the previous year, reflecting a fall in casino and poker revenues.
Revenue declined to €317.1m from €342.5m as a solid performance from sports betting was offset by year-on-year declines in casino and poker.
Teufelberger said the company is on track with planned €30m in cost reduction measures, with €13.8m achieved in the first half, but confessed that a "more fundamental" approach is needed to turnaround the business.
Top Director Buys
Bwin.party Digital Entertainment (BPTY)
Director name: Mr Norbert Teufelberger
Amount purchased: 250,000 @ 8,248.10p
Value: ÂŁ20,620,250
AFH Financial Group (AFHP)
Director name: Mr Toby Denne
Amount purchased: 166,666 @ 150.00p
Value: ÂŁ249,999
Bwin.party Digital Entertainment (BPTY)
Director name: Mr Philip Yea
Amount purchased: 178,477 @ 84.03p
Value: ÂŁ149,974
easyJet (EZJ)
Director name: Mr Keith Hamill
Amount purchased: 2,600 @ 1,358.96p
Value: ÂŁ35,333
UK Commercial Property Trust (UKCM)
Director name: Mr Ken McCullagh
Amount purchased: 40,000 @ 80.50p
Value: ÂŁ32,200
Greencore Group (GNC)
Director name: Mr John Herlihy
Amount purchased: 10,000 @ 266.00p
Value: ÂŁ26,600
TT Electronics (TTG)
Director name: Mr Michael Baunton CBE
Amount purchased: 8,837 @ 169.80p
Value: ÂŁ15,005
Top Director Sells
AFH Financial Group (AFHP)
Director name: Mr Alan Hudson
Amount sold: 206,666 @ 150.00p
Value: ÂŁ309,999
Playtech (PTEC)
Director name: Mr Ron Hoffman
Amount sold: 32,500 @ 715.00p
Value: ÂŁ232,375
Playtech (PTEC)
Director name: Mr Ron Hoffman
Amount sold: 25,000 @ 704.10p
Value: ÂŁ176,025
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