bwin Developing New Social Gaming Division, Had Doubts Prior

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It’s always a good thing to admit when you’re wrong and the win situation for bwin is that co-CEO, Norbert Teufelberger, admits to “underestimating” the sector, as bwin begins working on developing a new social gaming division.

Norbert Teufelberger admitting on the same call that he “Never believed “social” was something that’s going to materialize and I underestimated how powerful it would be.”

The first social gaming product to launch will be a poker-based product followed by a casino and sportsbook application by the end of 2012, the company said. In mobile, bwin.party will launch a new PartyPoker mobile app and also plans to launch HTML5 mobile versions of its key gaming sites.

“We expect to gain competitive advantage this year from additional scale and improved flexibility that will flow from the integration and migration of our main products to a single technology platform,” said bwin.party co-CEOs Jim Ryan and Norbert Teufelberger, Co-CEOs. “As integration projects are completed, we are channeling more resources into driving innovation across the business and through new channels including our proprietary mobile gaming platform. We are also extending our reach into new areas of digital entertainment such as social gaming where we see significant potential.”

“Valuations were not what we wanted to pay, so we are now in the process of building a team and we are going to launch a dedicated business unit distinct from our real-money operations”.

He described Double Down Interactive, as “An inferior product and software” to what bwin.party is capable of, explaining that “We are going to use our own content which is hard to replicate for people in the social space”.

One social launch which has already materialized for the operator is Aces Hangout, a social poker game which began a test phase in December last year and launched last night on Google +.

Another of the company’s existing social ventures, the WPT Facebook app developed by Hands-On Entertainment, currently boasts 230,000 monthly active users.

Reported by Maggie B.

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