Bwin financial year performance to come in lower than expected

The giant Austrian online gambling group Bwin released its latest results this week, posting a small increase in net gaming revenues of 2.3% year-on-year to €373 million (US$ 503.7 million) in 2009. Preliminary results delivered gross gaming revenues up 6.1% to €446.6 million. Excluding the takeover of Italian gambling group Gioco Digitale the number stands at €432.7 million.

Bwin's sports betting gross gaming revenues decreased 3.8% to €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% to €118.8 million, while revenues in the Internet casino field rose 5.4% to €73.7 million. Gross gaming revenues for games increased 30.7% to €27.8 million.

Group betting turnover increased 5.1% to €3.27 billion.

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

Source: InfoPowa News

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