home casinos play poker play bingo play instant win games gambling news archive forums
- -
Bookmark current page
→ casino
→ online casino
→ online poker
→ poker
  Recommended Sites
  Featured Partner
Gambling Articles
Gambling Experts
News Archive
Contact Us
Bingo Aff Program Gambling News Archive

Bwin on the up despite drop in revenues

Austrian online betting and gaming provider expects to earn €110 million for 2009 and at least €150 million next year.

Friday 27th November 2009

Leading online betting and gaming provider Bwin Interactive Entertainment AG has announced its financial results for the third quarter of 2009 showing a 0.4 percent year-on-year drop in net gaming revenues to €83.3 million. Although this figure was virtually unchanged compared to last year’s €83.7 million, Bwin stated that the decrease was mainly down to customer acquisition and reactivation measures particularly in connection with its new poker platform. It revealed that it was also hurt by an increase in betting duties caused by the rise in the volume of online gaming in Italy. The Vienna-based firm reported a 75.3 percent increase in earnings before interest, tax, depreciation and amortisation to €16.8 million coupled a result after tax of €7.9 million, which is significantly better than last year’s deficit of seven million Euro. Looking to the future, Bwin stated that it expects gross gaming revenues for the current financial year of between €435 million to €450 million with earnings before interest, tax, depreciation and amortisation of €110 million. “Management is optimistic about the coming year and the period thereafter due to the positioning of the company as a market leader in the booming Italian online gaming market and new product launches in Italy as well as the regulated opening up of the French gaming market in the foreseeable future,” read a statement from Bwin. “Based on the gross gaming revenues of over €570 million forecast for 2010, management anticipates an adjusted earnings before interest, tax, depreciation and amortisation of more than €150 million.”

Source: OnlineCasinoNews

  • Back to archive index
  • Submit a press release

    Discuss this story in the Gambling Forum. Last 5 Posts:
    Sunday 26th February, 2017:   Horse Race betting
    Friday 24th February, 2017:   Poker Websites
    Thursday 23rd February, 2017:   UEFA Europa League
    Wednesday 22nd February, 2017:   UEFA Champione Leugue
    Wednesday 22nd February, 2017:   Hi - How to make good money online!