Latest results for Bwin released

EBITDA for FY 2009 will be slightly down

The giant Austrian online gambling group Bwin released its latest results this week, posting a small increase in net gaming revenues of 2.3 percent year-on-year to Euro 373 million (US$ 503.7 million) in 2009.

Preliminary results delivered gross gaming revenues up 6.1 percent to Euro 446.6 million. Excluding the takeover of Italian gambling group Gioco Digitale the number stands at Euro 432.7 million.

Bwin's sports betting gross gaming revenues decreased 3.8 percent to Euro 226.3 million. The company noted that the previous year's result was boosted by the UEFA 2008 football championship action.

Online poker performed well, with gross gaming revenues soaring 26.1 percent to Euro 118.8 million, while revenues in the Internet casino field rose 5.4 percent to Euro 73.7 million. Gross gaming revenues for games increased 30.7 percent to Euro 27.8 million.

Group betting turnover increased 5.1 percent to Euro 3.27 billion.

Management said that EDITDA for 2009 should come in at between Euro 100 million and Euro 105 million, somewhat lower than the Euro 110 million the company had anticipated earlier.

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