Good results for Bwin


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

Login to post a comment:


 
 

Click Here to register a new account

What's going on right now!

2mins ago someone from United States read DaVinci's Gold Casino review

Casino Community

Share this page on:
Follow LCB on:
Follow LCB

Casino Of The Month

Casino of the Month

In the last 24h

Totals

  • New Members
    25
  • Members Online
    404
  • Guests
    2,371
Highest Community Rated Online Casinos
NextCasino
  (110 Ratings)
Bet365 Games
  (128 Ratings)
CasinoLuck
  (173 Ratings)
Betsson Casino
  (162 Ratings)
Guts Casino
  (127 Ratings)
Slotty Vegas
  (71 Ratings)
Unibet Casino
  (99 Ratings)
BitCasino.io
  (116 Ratings)
Redbet Casino
  (102 Ratings)
Betsafe Casino
  (134 Ratings)
Spin Palace Casino
  (90 Ratings)
Liberty Slots Casino
  (126 Ratings)
Intertops Casino Classic
  (77 Ratings)
ComeOn Casino
  (187 Ratings)
Mr Green Casino
  (236 Ratings)
Thrills Casino
  (98 Ratings)
Winner Casino
  (297 Ratings)
Vera John Casino
  (142 Ratings)
Casumo
  (89 Ratings)
3Dice Casino
  (190 Ratings)
Jetbull Casino
  (72 Ratings)
River Nile Casino
  (79 Ratings)
Uptown Aces
  (84 Ratings)
32 Red Casino
  (228 Ratings)
Intertops Red Casino
  (82 Ratings)
Whitebet Casino
  (66 Ratings)
BETAT Casino
  (144 Ratings)
Ruby Fortune Casino
  (113 Ratings)
Sin City Casino
  (69 Ratings)
Crazy Vegas
  (127 Ratings)


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