Secure adnxs

Good news for Bwin


EBITDA rises 40 percent for half year, but sportsbetters did well out of the company

The Vienna-listed online gambling giant Bwin had some generally good news for investors as it released its second quarter and half year results this week, reporting a rise in EBITDA of 40 percent.

Over the first six months of 2009 the Internet gambling group recorded EBITDA of Euro 51 million, 42 percent better than H1 2008 when Euro 36.5 million was achieved. Second quarter 09 EBITDA was similarly encouraging, rising 42 percent over Q2 2008 to Euro 15 million (Q2 2008: Euro 10.6 million).

H1 gross gaming revenue rose marginally to Euro 212.7 million (H1 2008: Euro 207 million) but for the quarter dropped 7.3 percent to Euro 95 million (Q2 2008: Euro 102.6 million).

Betting turnover was 6 percent up at Euro 1.6 billion in the first six months, and second quarter betting turnover was 2.2 percent up to Euro 810.9 million.

Sportsbetters did well against the company, resulting in weak margins around 5.9 percent for the quarter, down from 7.9 percent in Q2 2008. Gross quarterly revenues from sports declined by 25 percent to Euro 44.8 million (Q2 2008: Euro 59.3 million) with net gaming revenue slipping 26 percent to Euro 37.4 million (Q2 2008: Euro 50.4 million).

Poker lessened the impact of the sportsbetting declines, contributing net gaming revenue of Euro 20.2 million - a 12.8 percent rise from 2008's Euro 17.9 million, but over the group there was a 12 percent fall in overall NGR to Euro 77.8 million.

Games NGR achieved 23.1 percent growth to Euro 5.7 million over the second quarter, compared to Euro 4.6 million in Q2 2008, probably due to the launch of a new backgammon platform.

Online casino NGR showed a small decline from Euro 15.1 million in 2008 to Euro 14.6 million this time, attributed to stagnant marketing due to internal responsible gaming considerations.

Active customer numbers reached 1 057 000, slightly down on last year's 1 095 000, with the number of new active customers declining by 15.1 percent to 251 000.

Management reported on the first few weeks of quarter 3 2009, commenting that thus far gross gaming revenues were 2 percent higher than Q3 2008 at this time, with sportsbetting marhgins returning to more acceptable margins between 7 and 9 percent. Management anticipates that its target of Euro 110 EBITDA for the full year 2009 will be achieved.

General Gambling News

Login to post a comment:


 
 

Click Here to register a new account

What's going on right now!

1mins ago someone from us flag United States played White King

Casino Community

Share this page on:
Follow LCB on:
Follow LCB

In the last 24h

Totals

  • New Members
    30
  • Members Online
    485
  • Guests
    1,728
Highest Community Rated Online Casinos
Guts Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (362 Ratings)
Bet365 Games
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (323 Ratings)
Unibet Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (291 Ratings)
NextCasino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (338 Ratings)
Casino Adrenaline
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (258 Ratings)
Vera John Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (314 Ratings)
Betsson Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (398 Ratings)
CasinoLuck
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (418 Ratings)
Redbet Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (311 Ratings)
SlotsMillion
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (213 Ratings)
32 Red Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (665 Ratings)
Bet365 Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (589 Ratings)
Lucky Red Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (391 Ratings)
BETAT Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (365 Ratings)
Rizk Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (100 Ratings)
ComeOn Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (448 Ratings)
Winner Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (442 Ratings)
Betsafe Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (384 Ratings)
William Hill Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (213 Ratings)
Win A Day Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (640 Ratings)
Ignition Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (46 Ratings)
Club USA Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (501 Ratings)
Mr Green Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (469 Ratings)
Betfair Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (402 Ratings)
Red Stag Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (210 Ratings)
Ladbrokes Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (234 Ratings)
Slotland
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (578 Ratings)
Sportingbet Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (182 Ratings)
Buzzluck Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (335 Ratings)
GoWild Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (403 Ratings)


Follow LCB on Facebook Follow LCB on Twitter Follow LCB on Pinterest Follow LCB on Google plus