29th Aug 2014 14:25
LONDON (Alliance News) - bwin.party digital entertainment PLC Friday said Chief Executive Officer Norbert Teufelberger bought 250,000 shares at a price of 82.481 pence per share.
Following this transaction, Teufelberger now holds 13 million shares, which represents a 1.58% stake in the firm.
The company also said Chairman Philip Yea bought 178,477 shares at 84.029 pence each and now holds 261,857 shares.
The online gaming company announced it will simplify its structure to cut even more costs out of the business and drive revenue growth. It said the new approach would also allow it to consider alternative financing and corporate structures, which would create additional value. The company reported a pretax loss of EUR100.5 million for the six months to end-June, significantly wider than the EUR9.1 million loss it posted a year earlier, as revenue fell to EUR317.1 million, from EUR342.5 million, and it booked a EUR94.7 million impairment, mainly against its poker assets.
The stock was up 11.8% at 89.60 pence Friday.
By Arvind Bhunjun; [email protected]; @ArvindBhunjun
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