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Bwin Turns A Profit

Following losses for 2006, Austrian gaming operator reports earnings of over $100 million for last year.

Tuesday 22nd April 2008

Vienna-based online gaming operator Bwin has announced after tax profits for the year of $79.78 million, up from last year’s loss of $858.68 million.

The Austrian firm also stated that it had earnings before interest, tax, depreciation and amortisation of $100.09 for the year versus a loss of $8.59 for 2006. In addition, gross gaming revenues came in at $557.45 million in 2007, up 21.4 percent from the previous period’s $459.21.

'After having mastered the challenges of 2006 such as the closure of the US market, the group concentrated in 2007 on its core products and markets,' read a statement from the firm.

Bwin stated that the 2007 figures included its Turkish business while the 2006 sums had been calculated taking into account both its US and Turkish operations. It also announced that it has been actively scouting for business opportunities in Asia and South America.

'However, it is impossible to say when the high market potential of these regions will be realised,' read the statement from Bwin.

It also added that it was hoping to work with top-level European soccer clubs and was open to additional sports sponsoring partnerships if legally possible.

 


Source: OnlineCasinoNews