18th of May 2009 Author: Glo Wood
One of Europe's biggest online gambling groups, Bwin, has posted another positive quarterly report, revealing that net gaming revenues in the first quarter 2009 were up 11 percent on Q1 2008, and reached Euro 102.1 million.
Other highlights included:
* EBITDA up 39.2 percent to Euro 36 million
* EBITDA margin on net gaming revenues reached 35 percent, up from 28 percent previously. The performance has prompted Bwin to lift its prediction on fully 2009 EBITDA to over Euro 110 million.
* Gross gaming revenues rose 12.5 percent to Euro 117.6 million, and the company has raised its predicted gross gaming revenues from Euro 435 million to Euro 450 million.
* The company has Euro 70.8 million in cash, up from Euro 53.2 million at the same time last year.
Management reported that the increase in net revenue came mainly from growth in online poker and games, and the sale of Bwin's rights to German football leagues.
On an annual basis, online poker grew 37 percent to Euro 27.8 million, whilst games rose 27.6 percent to Euro 5.6 million. Additional revenue streams included the sale of rights to the first and second German Football Leagues in the amount of Euro 7.1 million and totalled Euro 17.3 million, up from Euro 10.6 million in 2008. Sports betting was quiet with growth of only 3 percent to Euro 53.8 million, and online casino operations declined slightly from Euro 15 million to Euro 14.9 million.
General Gambling News
29th of November 2008
20th of May 2009
23rd of July 2016
25th of May 2016
27th of May 2016
26th of May 2016
28th of June 2016
Disclaimer Contact Us Privacy Gambling Help About Us Site Map
LatestCasinoBonuses.com © 2006-2016
Join now for full access to our online casino forum/chat plus receive our newsletter with news & exclusive bonuses every month.
PLUS join now and get...
100% up to $1000 PLUS 25 free spins! Sponsored by ClubUSA Casino, US OK.
View more information here